PSXP’s capital expenditures
Phillips 66 Partners (PSXP) spent $97.0 million on growth projects in 3Q17. The company spent $225.0 million on growth projects in the first nine months of 2017.
In October 2017, Phillips 66 Partners acquired from its sponsor, Phillips 66 (PSX), a 25.0% interest in the Bakken Pipeline system and a 100.0% interest in the coke processing units at PSX’s Sweeny Refinery. The total value of the transaction was $2.4 billion.
HEP’s capital expenditures
Holly Energy Partners’ capital expenditures for the third quarter of 2017 was ~$10.0 million. The company expects to spend $40.0 million–$50.0 million of capital on growth projects in 2017.
ANDX‘s capital expenditures
During 3Q17, Andeavor Logistics’ capital expenditures totaled $51.0 million. For 2017, the company expects its capex to be ~$200.0 million. In October 2017, Andeavor Logistics completed the $1.7 billion acquisition of Western Refining Logistics.
Andeavor Logistics expects to invest nearly $1.0 billion annually in growth investments from 2018 to 2020. This is expected to include at least $500.0 million–$600.0 million in organic growth and acquisitions and $400.0 million–$500.0 million in dropdowns from its parent, Andeavor (ANDV).
PBFX’s capital expenditures
PBF Logistics’ capital expenditures stood at $15.1 million in 3Q17. PBFX completed the Paulsboro natural gas pipeline in August 2017 and the Chalmette storage tank project in October. Both projects are expected to increase PBFX’s EBITDA by ~$12.0 million in 4Q17.
According to data released on January 10, 2018, short interest as a percentage of float in Holly Energy Partners (HEP) was ~23.4% on December 29, 2017.
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