The divested assets include: TPSL Terminaling Services Agreement with TransMontaigne Partners LP, including the exclusive rights to utilize 18 terminals; Line space along Colonial and Plantation Pipelines; 2 wholly-owned refined products terminals in Georgia and multiple third-party throughput agreements
and All associated customer contracts, inventory and other working capital associated with the assets.
"These options include further throughput agreements
with third party gas suppliers, bolt-on acquisitions in existing and adjacent fields, farming down stakes in some assets to expedite their development, and a corporate transaction."
It is looking at throughput agreements
with other gas suppliers, acquisitions close to its current fields, and selling parts of its share in some fields to speed up development.
In connection with the acquisition, Phillips 66 will enter into 10-year terminaling and throughput agreements
that will include minimum volume commitments covering approximately 85 percent of forecasted volumes.
Explorer is willing to construct this pipeline extension if, in this binding phase of the open season process, it receives sufficient support from shippers willing to sign long-term pipeline Throughput Agreements
In conjunction with the proposed transaction, the two companies expect to enter into 15-year throughput agreements
containing minimum annual revenue commitments from HollyFrontier.
RPTL is expected to generate superior cash flows on the back of high utilisation of its facilities under throughput agreements
with RIL, coupled with its strong operating efficiency and proximity to RIL's refineries in Jamnagar.