Williams completes sale of Alaska holdings

Petroleum News

Tulsa, Okla.-based Williams said April 1 that it completed the sale of its Alaska business interests March 31 for about $290 million, subject to closing adjustments for items such as the value of petroleum inventories.

Subsidiaries of Wichita, Kan.-based Flint Hills Resources LLC purchased the refinery at North Pole, near Fairbanks, two petroleum terminals — in Anchorage and Fairbanks — and crude oil and refined products inventories. Flint Hills is a wholly owned subsidiary of Koch Industries Inc.

Koch Alaska Pipeline Co., a subsidiary of Koch Pipeline Co., purchased Williams’ entire 3.0845 percent interest in the trans-Alaska pipeline system.

Holiday Stationstores of Minneapolis, Minn., purchased 26 convenience stores.

The March 31 closing followed Flint Hills Resources’ successful completion earlier in March of a crude oil supply contract with the state of Alaska, providing Flint Hills with up to 77,000 barrels per day of crude oil for 10 years.