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The operation was acquired from affiliates of Gary-Williams Energy Corp.
Excel Pipeline LLC is the owner of the 52-mile crude oil Excel pipeline. The Excel Pipeline system originates in Duncan, Oklahoma, and delivers crude oil to Gary-Williams' Wynnewood, Oklahoma, refinery.
In conjunction with the transaction, Gary-Williams has signed a Throughput and Deficiency Agreement for a term of 20 years. The transaction is expected to be immediately accretive.
Financial terms of the agreement were not disclosed.
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