PBF Logistics LP said Sept. 12 that Deutsche Bank Securities, the underwriter of its public offering of 4 million common units representing limited partner interests, exercised its option to purchase an additional 375,000 common units.
Total gross proceeds before the underwriter's discounts and commissions for the full 4,375,000 common units will be about $88 million.
PBF used a portion of the proceeds to fund part of the purchase price for its recently completed acquisition of a 50% interest in Torrance Valley Pipeline Co. LLC from an affiliate of PBF Energy Inc. The remaining proceeds will support general partnership purposes.
PBF Logistics LP is based in Parsippany, N.J.
Recommended Reading
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.