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HollyFrontier Corporation Announces Plans to Enter the Mid-Continent Asphalt Market

Wsj.com

HollyFrontier Corporation (NYSE: HFC) announced plans to enter into the mid-continent asphalt business.

A subsidiary of HFC currently manufactures and markets a diverse portfolio of high quality asphalt products, including polymer modified asphalts and emulsions, directly to paving contractors and highway markets, from terminals located in New Mexico and Arizona. HFC plans to expand its Southwest asphalt production and marketing business into the mid-continent asphalt paving markets. A subsidiary of HFC has concurrently entered into a long term lease with NuStar Logistics, L.P. for NuStar’s Port of Catoosa asphalt terminal enabling HFC to begin supplying polymer modified and PG asphalts to the mid-continent market from the Catoosa, Oklahoma facility in addition to HFC’s Tulsa, Oklahoma facilities.

Mike Jennings, HFC’s Chairman, President and CEO, commented, “We look forward to leveraging the historical success we have had in the Southwest market by expanding our marketing effort to the mid-continent region of the United States. This expansion will also increase our crude-slate flexibility at HFC’s mid-continent refineries.”

About HollyFrontier Corporation

HollyFrontier Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high-value light products such as gasoline, diesel fuel, jet fuel and other specialty products. HollyFrontier operates through its subsidiaries a 135,000 barrels per stream day (“bpsd”) refinery located in El Dorado, Kansas, two refinery facilities with a combined capacity of 125,000 bpsd located in Tulsa, Oklahoma, a 100,000 bpsd refinery located in Artesia, New Mexico, a 52,000 bpsd refinery located in Cheyenne, Wyoming and a 31,000 bpsd refinery in Woods Cross, Utah. HollyFrontier markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. A subsidiary of HollyFrontier also owns a 39% interest (including the general partner interest) in Holly Energy Partners, L.P. Information about HollyFrontier may be found on its website at http://www.hollyfrontier.com.

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein relating to matters that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. These statements are based on our beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we believe that such expectations reflected in such forward-looking statements are reasonable, we cannot give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:
— risks and uncertainties with respect to the actions of actual or
potential competitive suppliers of refined petroleum products in
HollyFrontier’s markets;

— the demand for and supply of crude oil and refined products;

— the spread between market prices for refined products and market prices
for crude oil;

— the possibility of constraints on the transportation of refined products;

— the possibility of inefficiencies, curtailments or shutdowns in refinery
operations or pipelines;

— effects of governmental and environmental regulations and policies;

— the availability and cost of financing to HollyFrontier;

— the effectiveness of HollyFrontier’s capital investments and marketing
strategies;

— HollyFrontier’s efficiency in carrying out construction projects;

— the ability of HollyFrontier to acquire refined product operations or
pipeline and terminal operations on acceptable terms and to integrate any
future acquired operations;

— the possibility of terrorist attacks and the consequences of any such
attacks;

— general economic conditions; and

— other financial, operational and legal risks and uncertainties detailed
from time to time in HollyFrontier’s Securities and Exchange Commission
filings.

The forward-looking statements speak only as of the date made and, other than as required by law, HollyFrontier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: HollyFrontier Corporation
Julia Heidenreich, 214-954-6510

VP, Investor Relations

or

Blake Barfield, 214-954-6510

Investor Relations

SOURCE: HollyFrontier Corporation
Copyright Business Wire 2014

Access Investor Kit for HollyFrontier Corp.

Visit http://www.companyspotlight.com/partner?cp_code=A591&isin=US4361061082

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Letter to the Editor: Bad old days

By: Mike Eslick – Tulsaworld.com

Sen. Jim Inhofe’s recent comments at the Port of Catoosa don’t provide much insight into where he has been for the last several years, but I don’t think it has been on this planet.

He and his party have thwarted, obstructed and maligned this president since he took office. Inhofe seems to think all the money has gone to “this far-left environmental stuff.”

If Inhofe wants to come back to reality, he ought to talk about all the money that has gone into two wars that we have fought over the last 10 years —— money that could have been used to build up the infrastructure in this country,

Additionally, Inhofe ought to realize not all Iranians “want to die,” and not all North Koreans are “crazy.” This is characteristic of the inane bigotry of many Americans, many in Oklahoma that Inhofe is trying to cater to in his bid for re-election.

It is reminiscent of the days when so many thought all African-Americans were lazy and all Native Americans were savages. And it is why Oklahoma’s senior senator is not held in very high regard by most thinking people.

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Jett makes 2nd bid for Congress

By: James Coburn – Edmondsun.com

TECUMSEH — EDITOR’S NOTE: This is one of a series of profiles on candidates for the 5th Congressional District seat.
Some of the problems facing Oklahoma need to be fixed on the federal level, said state Rep. Shane Jett, R-Tecumseh. As a Republican candidate for the 5th Congressional District, Jett is continuing his goals to bring more and better jobs to Oklahoma and attract the best and brightest young people to stay in Oklahoma, he said.

General infrastructure development is one of the challenges Jett plans to champion if voters elect him to Congress, he said. A lot of former Oklahomans living in other states would return home with their businesses intact if they could have the bandwidth necessary to access faster Internet throughout the state, Jett said.

The Port of Catoosa is a major asset to Oklahoma, but is not being utilized for its full potential, he said.

“We’re using a lot of barges to bring in rolled steel,” Jett said. “We’re sending out a lot of fertilizer aggregate — wheat. It really was designed to bring manufactured goods in and heavy equipment and send out food to populated areas on the coast.”

Jett said there are opportunities to receive imported goods through the Port of Catoosa instead of being backed up at Long Beach, Calif. They could come up the Panama Canal, through the Gulf of Mexico to the Port of New Orleans.

Oklahoma is at the center of the United States with 360-degree distribution potential to enhance transportation efficiency, he said.

“The truth is we don’t know what all could be done with it, because the ingenuity of the American people, with the opportunity created by it, is what really matters,” Jett said.

What does this have to do with the 5th District? “Everything,” Jett said. “Because if you have job opportunities throughout Oklahoma, it creates spin-off job opportunities for the rest of Oklahoma.”

Jett also would like to see more beef processing opportunities in Oklahoma. This would produce a higher return for farmers and ranchers who are raising cattle, he said.

“The purpose of the federal government is to create an infrastructure that liberates the economic potential of a region,” Jett said. “My focus would be infrastructure development and getting the government to focus on things that really open up opportunities and creates an open gate for creativity.”

The Republican field of candidates include Corporation Commissioner Patrice Douglas, state Sen. Clark Jolley, both from Edmond; state Rep. Mike Turner and former state Sen. Steve Russell, both from Oklahoma City; and Harvey Sparks, a former staffer of U.S. Rep. Jim Bridenstine.

Democrats who have announced their candidacy include retired University of Central Oklahoma professor Tom Guild of Edmond; state Sen. Al McCaffrey and retired federal contractor Keith Davenport, both from Oklahoma City; and former state employee Marilyn Rainwater, of Seminole.

Jett was a 5th District candidate in 2010 when Congressman James Lankford won the Republican primary and was later elected to the post.

During his six years in the Legislature, he served as chairman of the International Relations and Tourism Committee and chairman of the Joint Committee on International Trade. Jett was a member of Energy and Utility Regulations Committee, Appropriations and Budget on General Government and Transportation.

Jett earned a degree in International Business from Oklahoma Baptist University. Legislative Leadership from the Kennedy School of Government at Harvard. This spring he enrolled in Oklahoma Baptist University’s MBA program.

In 2008, he was commissioned as an officer in the U.S. Navy Reserve. He is currently a full lieutenant in the U.S. Navy.

He and his wife, Ana, have two daughters, Raquel, age 9 and Esther, age 4.

Candidate filing for 2014 statewide elections is set for 8 a.m. to 5 p.m. April 9-11 at the state Capitol. Voters will nominate their party’s candidates on June 24 for the statewide primary election.

A runoff primary election is set for Aug. 26. The general election is scheduled for Nov. 4.

TO LEARN MORE about state Rep. Shane Jett, go to http://jettforcongress.com.

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Tulsa’s Arkansas River challenge

By: David Arnett – Tulsatoday.com

The Arkansas is the sixth longest river in America and the second longest tributary to the Mississippi River. Over the course of time in Tulsa it has been polluted then protected both ignored and studied in exhaustive detail. Often slandered, the Arkansas River in Tulsa County now stands as the local challenge of our generation.

The Arkansas is a prairie river that, in major part, supports navigation providing substance for the most inland port in America – The Tulsa Port of Catoosa – after it joins as one of three rivers near Muskogee, south of Tulsa. To the northwest of the metropolitan area the Keystone Dam ends Arkansas River’s “wild prairie” phase as the dam controls water releases to prevent flooding and provide hydroelectric power.

A wild prairie river is a mix of sand and water that braids in ever changing “runs and riffles.” The Keystone Dam prevents downstream migration of sand thus what water flows is now scouring down to bedrock throughout Tulsa County. When rains to the north are frequent, the Arkansas fills from bank to bank, but most often area residents can walk and hop across the river on bedrock without getting their shoes damp. That is not a healthy state for a river.

Beyond any one public vote, the Arkansas River Corridor Master Plan has been under development for over a decade. The effort has always included close cooperation and communication between Tulsa County, the U.S. Corps of Engineers, the Oklahoma Department of Environmental Quality and other stakeholders.

Cynthia Kitchens, Project Manager, US Corps of Engineers Tulsa Regional Office said, “The Arkansas River in Tulsa County is very important to us.”

Gene Lilly, Water Resource Planner for the Corps said, “There is progress. The Master Plan was developed following Vision 2025 and funded in part by that initiative and by the Corps of Engineers. In 2005 the Master Plan was completed and laid out a connectional plan for the Arkansas River [addressing] flood risk reduction and eco restoration.

“Congress has authorized the Corps to study the Arkansas River in Tulsa County by a specific SMART (Specific, Measurable, Attainable, Risk Informed, Timely) Planning Process, Lilly said adding, “Depending on future funding, we can determine Federal interest in cost sharing of projects.

Lilly said, “The Corps supports the Master Plan’s comprehensive collaborative approach to development. The Master Plan is not our plan, but the community’s plan. We provided some funding, but many ideas came from the public, stakeholders, and community leaders. We will be a part of certain aspects of the Master Plan and an example of that is the current effort on Crow Creek.”

That Crow Creek effort is publicly known as “The Gathering Place” currently underway as a private/public development effort led by the George Kaiser Family Foundation and other corporate and individual donors on the east side of the Arkansas River in midtown Tulsa. Lilly said, “The Gathering Place is an example of taking our concepts to the next level.”

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Inhofe Could Chair Environment Committee

By: Ed Brayton – Freethoughtblogs.com

Sen. James Inhofe, a startlingly ignorant man, will once again become the chairman of the Senate Environment and Public Works Committee if the Republicans retake control of the Senate in the upcoming midterm elections.

Let that thought sink in without shuddering.

“U.S. Sen. Jim Inhofe said Tuesday he will again head the Senate committee overseeing transportation and environmental regulation if Republicans win control of the upper chamber in November.
Speaking to about 50 plant managers and others associated with Tulsa Port of Catoosa tenants, Inhofe said a Republican victory would make him chairman of the Senate Environment and Public Works Committee…
Under the Senate Republicans’ somewhat complicated rules, Arizona’s John McCain would become Armed Services chairman in the event of a GOP majority, and Inhofe would resume his top position on EPW.”
Bear in mind that this is the kind of “thought” that rattles around in his head:

“Inhofe: Well actually the Genesis 8:22 that I use in there is that ‘as long as the earth remains there will be seed time and harvest, cold and heat, winter and summer, day and night,’ my point is, God’s still up there. The arrogance of people to think that we, human beings, would be able to change what He is doing in the climate is to me outrageous.”
That man shouldn’t be running the night shift at a Taco Bell, much less a Senate committee.

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