Holly Corporation was originally incorporated under the name General Appliance Corporation.
Frontier Oil Corporation was originally incorporated under the name Wainoco Oil Corporation, which was primarily an oil and gas exploration company with production in Canada and the U.S.
General Appliance Corporation changed its name to Holly Corporation to broaden its interests into oil production.
Holly Corporation was listed on the American Stock Exchange (AMEX) and focused on the oil and gas exploration industry while income was mainly from real estate sales and interest.
Holly purchased Navajo Refining Company in Artesia, NM from Continental Oil Company.
Holly moved its home office to Dallas, TX from Azusa, CA.
The Navajo Refinery eclipsed real estate as the major source of revenue for the company.
Wainoco listed on the New York Stock Exchange (NYSE: WOL).
Holly was included in the Fortune 500 list of largest U.S. industrial corporations.
Wainoco purchased Frontier Oil Corporation, whose primary asset was a crude oil refinery located in Cheyenne, WY.
Wainoco had three operating units: U.S. Oil and Gas, Canadian Oil and Gas, and Frontier Oil.
Wainoco sold U.S. operations in exploration and production due to lack of scale.
Wainoco sold Canadian assets to pay down corporate debt and concentrated entirely on refining operations.
Wainoco changed its name to Frontier Oil Corporation (NYSE: FTO) to reflect the change in corporate strategy.
Frontier purchased the El Dorado, KS refinery from the Shell-Texaco joint venture, Equilon, quadrupling the company’s refining capacity.
Holly purchased the Woods Cross, UT refinery from ConocoPhillips.
Holly Energy Partners was formed and listed on the New York Stock Exchange (NYSE: HEP). Holly changed its listing from the AMEX to the New York Stock Exchange (NYSE: HOC).
Holly was named as a “Best Managed Company” by Fortune magazine.
Frontier was ranked in the top ten for “Total Return to Shareholders” and “Revenues per Employee” by Fortune magazine.
Holly acquired the Sunoco and Sinclair refineries in Tulsa, OK, doubling the company’s refining capacity and number of employees.
Holly and Frontier completed a merger of equals and changed name to HollyFrontier Corporation (NYSE: HFC).
HollyFrontier listed as one of the 150 largest companies in the U.S. by Fortune magazine.
HollyFrontier Corporation acquired Petro-Canada Lubricants Inc. which combined with HFC’s Tulsa Lubricants production makes HFC the fourth largest specialty lubricants producer in North America.