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Pbf Energy Completes Acquisition Of The Chalmette Refinery And Related Logistics Assets

The following excerpt is from the company's SEC filing.

189,000 barrel per day high-complexity, coking refinery in PADD 3

Attractive MLP assets including ownership interests in three pipelines, crude and products storage facilities, a marine terminal and a clean products truck rack

PBF Energy on track to become North America’s fourth largest independent refiner

PARSIPPANY, NJ– November 2, 2015 – PBF Energy Inc. (NYSE: PBF) announced today that its subsidiary has successfully completed its acquisition of Chalmette Refining, LLC, consisting of the 189,000 barrel per day Chalmette Refinery and related logistics assets, from ExxonMobil and PDV Chalmett e, LLC. The purchase price for Chalmette Refining, LLC, was $322 million, plus working capital. With the acquisition, PBF Energy has increased its total throughput capacity to over 725,000 barrels per day. Including PBF’s pending acquisition of the Torrance refinery, PBF Energy will increase its total throughput capacity to approximately 900,000 barrels per day, making it the fourth largest independent refiner in North America.

“The acquisition of the Chalmette Refinery, and its associated logistics assets, represents a significant step in the strategic growth of PBF Energy and PBF Logistics. Coupled with the previously announced Torrance acquisition, we will have increased our refining capacity by over 60 percent and added meaningful Gulf and West Coast assets to our refining system,” said Tom Nimbley, PBF Energy’s Chief Executive Officer. “We are committed to the continued safe and environmentally responsible operations of the facility and welcome Chalmette’s well-trained and professional workforce to the PBF family.”

For the period of PBF’s ownership of the Chalmette refinery in the fourth quarter of 2015, the company expects to operate the refinery between 170,000 and 190,000 barrels per day of total throughput...


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