Husky Energy has entered into definitive agreements to acquire the Superior Refinery, a 50,000 barrel per day permitted capacity facility located in Superior, Wisconsin from Calumet Specialty Products Partners, L.P. for USD 435M in cash.
Acquiring the Superior Refinery will increase Husky’s downstream crude processing capacity. The transaction accelerates Husky’s strategy, outlined at its 2017 Investor Day, to capture full value from the Company’s heavy oil production from Western Canada.
Husky plans to retain the approximately 180 workers at the refinery.
With the addition of the Superior refinery, Husky’s total downstream capacity will increase to approximately 395,000 barrels per day (bbls/day).
The refinery allows direct connectivity to the Company’s pipeline terminal in Hardisty, Alberta via the Enbridge Mainline.
