Sunoco closes Mobil Pipe Line acquisition

Published Thursday, September 01, 2005

Sunoco Logistics Partners LP has completed the previously announced acquisition of a crude oil pipeline system and storage facilities, located in Texas, from Mobil Pipe Line Co. The purchase was financed with cash and amounts drawn under the partnership's credit facility. The partnership expects to issue more equity in the future to repay a substantial portion of the additional indebtedness, incurred under the credit facility, consistent with conservative capital structure. The system consists primarily of a 187-mile, 16-inch pipeline, with an operating capacity of 125 mbpd, originating at the Corsicana TX terminal and terminating at Wichita Falls TX.

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