Thursday, Sunoco Logistics Partners L.P. (SXL) said it completed the acquisition of Excel Pipeline LLC, the owner of the 52-mile crude oil Excel pipeline, from affiliates of Gary-Williams Energy Corp.
In connection with the transaction, Gary-Williams entered into a 20-year Throughput and Deficiency Agreement and it is expected to be immediately accretive, the company stated.
The Excel Pipeline system originates in Duncan, OK and delivers crude oil to Gary-Williams' Wynnewood, OK refinery. The Partnership has operated the pipeline for Gary-Williams since 2007, Sunoco Logistics noted.
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