Delek Logistics Partners LP and Delek US Holdings Inc. will provide additional midstream growth and improved crude oil flexibility. An indirect, wholly owned subsidiary of Delek Logistics purchased a 33-percent ownership interest for approximately $128 million in Red River Pipeline Co. LLC from an affiliate of Plains All American Pipeline LP to form a new joint venture that owns capacity on the Red River pipeline. Red River intends to proceed with an expansion project to increase the capacity of the pipeline from 150,000 bpd to 235,000 bpd. Also, Delek US will increase its direct access to crude oil originating in Cushing, Oklahoma, from 35,000 bpd to 100,000 bpd, utilizing a portion of the new capacity through a throughput and deficiency agreement with the Red River joint venture.
For more information, visit www.delekus.com or call (615) 771-6701.