Delek Logistics Partners, LP Business Summary

Delek Logistics Partners, LP (DKL) operates as a midstream energy master limited partnership (MLP) that generates revenue primarily through long-term, fee-based service agreements for the gathering, transportation, and storage of crude oil, intermediate products, and refined petroleum. The company’s operations are organized into two primary segments: Pipelines and Transportation, which manages an integrated network of crude and product pipelines across the Permian and Delaware Basins, and Wholesale Marketing and Terminalling, which provides essential storage and throughput services at major hubs in Texas, Arkansas, and Oklahoma. While historically dependent on its sponsor, Delek US Holdings (DK), for nearly half of its revenue, the partnership has aggressively pivoted toward a third-party service model, targeting a 70% EBITDA contribution from external customers by 2026. DKL competes directly with other midstream giants such as MPLX LP, Energy Transfer LP, and HF Sinclair Corporation, positioning itself as a high-yield, infrastructure-heavy specialist with a strategic footprint in the most productive U.S. shale plays. The leadership team is anchored by Executive Chairman Ezra Uzi Yemin, the primary architect of the partnership’s 2012 formation, and President and CEO Avigal Soreq, who rejoined the firm in 2022 following a tenure as CEO of El Al Israel Airlines. Financial operations are led by EVP and CFO Robert Wright, an industry veteran with a background at PwC and CVR Energy who assumed the role in April 2025 to oversee the company’s deleveraging and diversification strategy. The executive suite is further supported by Reuven Spiegel, the former CFO who now serves as Executive Vice President, and Mohit Bhardwaj, EVP of Strategy and Business Development, who brings pedigree from Millennium Partners and Citadel. Delek US Holdings remains the majority stakeholder with approximately 64% ownership, while the board of directors features notable independent members such as Sherri Brillon, the former CFO of Encana, and Charles Brown, providing deep institutional oversight for major investors like Alps Advisors and Mirae Asset Global Investments.