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Sunoco Logistics Buys Excel Pipeline

mergers_acquisitions_225px-w_bwSeptember 11, 2009 (FinancialWire) — Sunoco Logistics Partners L.P. (NYSE: SXL) has completed the acquisition of Excel Pipeline LLC, the owner of the 52-mile crude oil Excel pipeline, from affiliates of Gary-Williams Energy Corp.

The Excel Pipeline system originates in Duncan, Oklahoma and delivers crude oil to Gary-Williams’ Wynnewood, Oklahoma refinery. Sunoco Logistics has operated the pipeline for Gary-Williams since 2007.

In connection with the transaction, Gary-Williams has entered into a 20-year throughput and deficiency agreement. Sunoco Logistics said is expects that the transaction will be immediately accretive.

Philadelphia-based Sunoco Logistics Partners was formed to acquire, own and operate refined product and crude oil pipelines and terminal facilities.

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