With ExxonMobil announcing a sale of their Billings Refinery today, is this prime time to sell Alliance? This is the first refinery sold in the last few years and it is selling for $300 million. It is a 1/4 the size of Alliance. I would guess that Alliance would fetch its highest price over the next few months. Even in the shape it is in, it could probably fetch $500 - $600 million.
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another refinery!?! how DARE you!
That was an absolute steal for EM Billings. Crack in Billings is like 60 bucks right now, and the sale included the Silver Tip pipeline and their share of Yellowstone pipeline. They'll make their money on that in no time.
Alliance is a damaged asset that never really had a lot of flexibility or upgrading capacity...
Hearing Marathon !
If the November 8th election goes the way most anticipate, I think we’ll see a lot of movement in refining over the next few months (sales, reopenings, capacity expansions, etc)
With how difficult it would be to get permitted to build a new refinery, the right to operate a refinery the size of Alliance is easily worth that.