Who Owns Delek Logistics?

Delek Logistics Partners went public in November 2012, one year after Delek US began assembling the midstream footprint that would anchor it. The IPO followed the industry pattern set by larger refiners, which spun pipelines and terminals into MLPs to capture the richer valuations public markets assigned to fee-based infrastructure.

The early asset base was built around the parent's refineries: crude gathering and trucking in Arkansas and Texas, product terminals, and storage serving Tyler and El Dorado. Growth came through a combination of organic projects, dropdown acquisitions from the parent, and joint ventures. A 2019 purchase of a 33% membership interest in the Red River Pipeline joint venture, acquired from Plains Pipeline for $124.7 million, gave the partnership a position in a long-haul crude corridor.

Over the following years the partnership expanded its third-party business in the Permian Basin, adding crude gathering and gas processing exposure that reduced dependence on the sponsor's refineries. Management now describes a three-stream service model: gathering and processing, pipeline transportation, and storage and terminalling, with third-party cash flow growing faster than sponsor-related revenue.

By Q3 2026 the partnership generated $142.9 million of quarterly adjusted EBITDA and raised full-year 2026 guidance to $530-560 million, with further growth targeted through 2027.