DALLAS — HollyFrontier Corp. and Holly Energy Partners LP have created HF Sinclair Corp., a new parent holding company, as part of the completion of their respective acquisitions of Sinclair Oil Corp. and Sinclair Transportation Co. from The Sinclair Cos. Beginning on March 15, 2022, HF Sinclair will replace HollyFrontier as the public company trading on the New York Stock Exchange, and it will trade under the ticker symbol “DINO,” reflecting Sinclair’s iconic dinosaur logo.
HF Sinclair will be the parent company of an integrated downstream petroleum and renewable fuels company with enhanced scale and a strong marketing presence featuring:
- An expanded refining business that includes seven refineries in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products in 19 states—principally in the Southwest, the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states—that convert discounted, heavy and sour crude oil into gasoline, diesel and other refined products.
- A renewables business with three production facilities that the company expects to produce approximately 380 million gallons of renewable diesel annually.
- A multi-national lubricants business that produces specialty products and base oils, marketed under the Petro-Canada Lubricants, Sonneborn, Red Giant Oil and HollyFrontier Specialty Products brands.
- A major marketing business with more than 1,300 independent wholesale Sinclair-branded gas-station and convenience-store sites in 30 states and that licenses the use of the Sinclair brand at more than 300 additional locations throughout the country.
- A logistics business under Holly Energy Partners with an integrated logistics network connecting key crude and product regions and interests in strategic joint ventures that provide access to finished product pipelines and storage.
“The completion of our transactions and the launch of HF Sinclair marks the start of the next phase of our company’s history,” said Mike Jennings, CEO of HF Sinclair and Holly Energy Partners. “We are moving forward as a more diverse, downward integrated business with scale that is positioned to drive growth and capital returns to our shareholders.”
HollyFrontier’s senior management team will continue to operate HF Sinclair, with headquarters in Dallas, with combined business offices in Salt Lake City, Utah. Ross Matthews and Norman Szydlowski have joined the HF Sinclair board of directors effective March 15. Collectively, the appointees have more than 60 years of energy industry experience.
Matthews served as chairman and CEO of Sinclair Oil from October 2009 until the closing of the transaction. Szydlowski previously served as CEO of SemGroup Corp., Rose Rock Midstream and Colonial Pipeline Co. and as director of Sinclair Oil.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.