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Article: HOWELL TO ACQUIRE CRUDE OIL PIPELINES FROM EXXON.
- Article from:
- Business Wire
- Article date:
- February 23, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON--(BUSINESS WIRE)--Feb. 23, 1995--HOWELL CORPORATION (HWL:NYSE; HWLLP:NASDAQ) today announced the signing of a Purchase and Sale Agreement with Exxon Pipeline Company (a subsidiary of Exxon Corporation - XON:NYSE) regarding the purchase by Howell of three crude oil pipeline systems. The Purchase and Sale Agreement is subject to customary due diligence and to regulatory review. The closing of this transaction is currently contemplated to take place by March 31, 1995. When consummated, the acquisition of these pipeline assets will account for over one-quarter of Howell s total assets.
The three systems are located in Texas, Louisiana, Mississippi, Alabama and ...