Monday, February 9, 2009

Flying J puts Longhorn Pipeline up for sale

OGDEN, Utah - Longhorn Pipeline Holdings LLC, a subsidiary of Ogden-based Flying J, is for sale .
Flying J decided to offer the 700-mile pipeline for sale after determining it was no longer "core to its business," said spokesman Peter Hill in New York. The pipeline carries 72,000 gallons of gasoline a day from the Gulf area near Houston to a Flying J storage facility in El Paso, Texas.
"From Flying J's standpoint, it is seeking to maximize value for its creditors and the Longhorn pipeline is a valuable asset," Hill said.
Flying J, its Longhorn pipeline and Big West Refining subsidiaries filed for bankruptcy on Dec. 22 to fix a liquidity crisis brought on by the steep drop of oil prices and trouble getting credit.

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