Our History

Sunoco Logistics is a Master Limited Partnership formed by Sunoco, Inc., to acquire, own, and operate a geographically diverse group of crude oil and refined product pipelines, terminalling, and storage facilities. As a part of Sunoco, Inc., we have over 115 years experience in transportation, terminalling, and the storage services. Our business is made up of three segments: the Eastern Pipeline System, Terminal Facilities, and the Western Pipeline System. You can learn more about them in our Business Lines section of this website.

On February 8, 2002, we completed our initial public offering of 5.75 million common units at a price of $20.25 per unit. The units are traded on the New York Stock Exchange under the symbol "SXL". Look at our press releases section for ongoing updates, or review our financial information for more details.

On November 15, 2002, we acquired equity interest in three product pipelines from Unocal for $54 million; a 31.5 percent interest in the Wolverine Pipeline; a 9.2 percent interest in the West Shore Pipeline and a 14 percent interest in the Yellowstone Pipeline. On September 30, 2003, we acquired an additional 3.1 percent interest in West Shore for $3.7 million. On November 15, 2002, we also acquired a 43.8 percent interest in the West Texaco Gulf crude oil pipeline from Sunoco, Inc. for $10.6 million.

On March 30, 2004, we acquired the Eagle Point Terminal complex from Sunoco, Inc. for $20 million, consisting of ship and barge docks which receive crude oil, and ship out refined and intermediate products through truck racks with ten loading positions that transport refined product and a 4.5-mile refined product common carrier pipeline that extends from the Eagle Point refinery to the Harbor pipeline near Woodbury, New Jersey.

On April 7, 2004 we sold 3.4 million common units in a public offering for total gross proceeds of $135 million. Net proceeds of the sale were used to redeem 2.2 million common units from Sunoco for $83 million, to replenish cash used to acquire the Eagle Point logistics assets, to finance the purchase of the ConocoPhillips terminals, to finance the anticipated purchase of a 33.3 percent interest in the Harbor pipeline, and for general purposes.

On April 28, 2004 two refined product terminals located in Baltimore, Maryland and Manassas, Virginia were acquired from ConocoPhillips for $12 million.

In June 2004, the Partnership acquired an aditional one-third interest in the Harbor pipeline for $7.3 million increasing its ownership to 66.7%.

In November 2004, the Partnership announce that it had acquired a product terminal located in Columbus, Ohio, with 160,000 barrels of shell capacity, for approximately $8 million.

In May and June 2005, the Partnership sold 2.775 million common units for net proceeds of approximately $99.2 million. Net proceeds were used to redeem 2.775 million common units from Sunoco, Inc.

On August 1, 2005, the Partnership completed the acquisition of a crude oil pipeline system and storage facilities, located in Texas for $100 million. The system consists primarily of a 187-mile, 16-inch pipeline, with an operating capacity of 125 mbpd, originating at the Corsicana, Texas terminal and terminating at Wichita Falls, Texas. The Corsicana Texas terminal consists of 2.9 million shell barrels of crude oil storage, while the Ringgold, Texas terminal consists of 0.5 million shell barrels of crude oil capacity. Associated with this transaction is the construction of a new $17 million, 20-mile pipeline connecting the West Texas Gulf Pipe Line at Wortham, Texas to Corsicana, and is expected to be completed in the fourth quarter of 2005.

On August 4, 2005, the Partnership sold 1.5 million common units for net proceeds of approximately $56.7 million. Net proceeds were used to pay a portion of the indebtedness incurred under our revolving credit facility to finance a portion of the purchase price for the crude oil pipeline system and related storage facilities, located in Texas.

In December 2005, the Partnership purchased a 37.0% undivided interest in the Mesa Pipe Line System for approximately $6.6 million from affiliates of Sunoco and Chevron. The Mesa Pipe Line System consists of an 80-mile, 24-inch crude oil pipeline from Midland, Texas to Colorado City, Texas, with an operating capacity of 316,000 bpd, and approximately 800,000 barrels of tankage at Midland. The Mesa Pipe Line System connects to the West texas Gulf Pipeline, of which we own a 43.8% interest, which supplies crude oil to the Mid-Valley pipeline.

On March 1, 2006, the Partnership purchased a crude oil pipeline system from affilates of Black Hills Energy, Inc. for $41.4 million. The system consists of 390 miles of crude oil pipelines with an operating capacity of 100,000 bpd and 340,000 shell barrels of active storage capacity.

On March 1, 2006, the Partnership acquired a crude oil pipeline system located in Texas from affilates of Alon USA Energy, Inc. for $68.0 million. The system consists of 528 miles of crude oil pipelines with an operating capacity of 67,000 bpd. Alon has also agreed to ship a minimum of 15,000 bpd on these pipelines under a 10-year throughput and deficiency agreement. These pipelines are currently idled and are scheduled to be returned to service on June 1, 2006.

On April 17, 2006, the Partnership signed a definitive agreement to purchase 50% interest in a refined products terminal located in Syracuse, New York from Mobil Pipe Line Company, an affiliate of Exxon Mobil Corporation. The storage capacity of this terminal is approximately 550,000 barrels. The transaction is subject to purchase rights held by an existing owner and normal conditions to closing for assets of this nature.

On May 2, 2006, the Partnership sold 2.4 million common units and $175 million of 10-year bonds maturing in 2016. Use of proceeds were to repay in full the $216.1 million of indebtedness outstanding under the credit facility, to fund $38.0 million of the Partnership's 2006 organic growth program, and for general partnership purpose including to finance pending and futrue acquisitions.