August 9, 2018
Dallas’ Sunoco LP says its completed it’s buy of the equity interests of Sandford Energy LLC along with Sandford Transporation and their subsidiaries, headquartered in Decatur, Texas.
Cost is about $66 million plus working capital adjustments, Sunoco said.
The Sandford wholesale fuels business distributes about 115 million gallons of fuel each year to exploration, drilling and oil field services customers, primarily in basins in Central and West Texas and Oklahoma.
Sandford also operates a fleet of eight tractors and trailers, according to filings with the U.S. Department of Transportation.
Sunoco is owned by Dallas-based Energy Transfer Equity, a master limited partnership.
The transaction was funded using cash on hand and amounts available under Sunoco’s revolving credit facility, the company said.
In April, Sunoco’s bought wholesale fuel distribution and terminal assets from Superior Plus Corp.