Last week, Newtown Square’s Sunoco Logistics Partners, merged with parent company Energy Transfer Partners, writes Andrew Maykuth for the Philadelphia Inquirer.
According to filings submitted to the Securities and Exchange Commission, Sunoco will continue to run operations from its Newtown Square headquarters. Meanwhile, Dallas-based ETP has said it expects to achieve synergy and close to $200 million a year in cost savings by 2019 as a result of the merger.
Sunoco Logistics operates a pipeline and terminal network that transports petroleum products, while ETP primarily operates natural-gas pipelines. Combined, the merged companies will have a network of nearly 71,000 miles of pipelines.
Michael J. Hennigan, President and CEO of Sunoco Logistics, will have a similar role following the merger as president of crude, natural gas liquids, and refined products.
Sunoco Logistics’ Pennsylvania operations are currently focused on its Mariner East project. This will transport natural gas liquids like propane and ethane from shale fields to the company’s Marcus Hook Industrial Complex on the Delaware River.
Sunoco also runs a large terminal in Texas, which is supplied by an extensive network of crude-oil pipelines that fan out into neighboring oilfields.
Read more about the merger in the Philadelphia Inquirer by clicking here.
