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March 26, 2019
HollyFrontier Corporation Provides Update on First Quarter Refinery Maintenance

DALLAS--(BUSINESS WIRE)--Mar. 26, 2019-- HollyFrontier Corporation (NYSE: HFC) today announced that unplanned first quarter maintenance at its El Dorado refinery has been completed. The crude unit is back online and the refinery is in the process of restarting all downstream units. As a result of planned and unplanned maintenance in the period, HollyFrontier expects crude oil throughput for the first quarter 2019 to average between 395,000 and 405,000 barrels per day.

About HollyFrontier Corporation:

HollyFrontier Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel, jet fuel and other specialty products. HollyFrontier owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming and Utah and markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. In addition, HollyFrontier produces base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and exports products to more than 80 countries. HollyFrontier also owns a 57% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier.

HFC Forward Looking Statement:

The statements contained herein relating to matters that are not historical facts are "forward-looking statements" within the meaning of the federal securities laws. These statements are based on our beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we believe that such expectations reflected in such forward-looking statements are reasonable, we cannot give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:

  • risks and uncertainties with respect to the actions of actual or potential competitive suppliers of refined petroleum products in HollyFrontier's markets;
  • the demand for and supply of crude oil and refined products;
  • the spread between market prices for refined products and market prices for crude oil;
  • the possibility of constraints on the transportation of refined products;
  • the possibility of inefficiencies, curtailments or shutdowns in refinery operations or pipelines;
  • effects of governmental and environmental regulations and policies;
  • the availability and cost of financing to HollyFrontier;
  • the effectiveness of HollyFrontier's capital investments and marketing strategies;
  • HollyFrontier's efficiency in carrying out construction projects;
  • the ability of HollyFrontier to acquire refined product operations or pipeline and terminal operations on acceptable terms and to integrate any future acquired operations;
  • the possibility of terrorist attacks and the consequences of any such attacks;
  • general economic conditions; and
  • other financial, operational and legal risks and uncertainties detailed from time to time in HollyFrontier'sSecurities and Exchange Commission filings.

The forward-looking statements speak only as of the date made and, other than as required by law, HollyFrontier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: HollyFrontier Corporation

HollyFrontier Corporation
Craig Biery, 214-954-6510
Director, Investor Relations
or
Jared Harding, 214-954-6510
Manager, Investor Relations