The refinery sale to Calumet was announced previously at the end of 2012. NuStar purchased the refinery and terminal out of bankruptcy in April 2011 for $41 million, and the company has invested approximately $54 million since then on improvements.    
NuStar sold the refinery as part of its strategic redirection away from the earnings volatility associated with the margin-based refining business in order to further grow its more stable, fee-based pipeline and storage operations through internal growth projects and acquisitions, especially in the Eagle Ford Shale region and other U.S. shale plays, where NuStar already has extensive pipeline and storage operations.  

NuStar will use proceeds from the transaction to fund the growth of those fee-based pipeline and storage operations.    

To facilitate the transition of the facilities from NuStar to Calumet, the two companies have entered into a transition services agreement in which NuStar will continue providing operational and administrative support for the next few months.  Mike Milam, vice president and plant manager, announced that he has accepted an offer with Calumet and will continue in his leadership role at the refinery.    

Located on the South Side of San Antonio, the 14,500-barrel-per-day refinery produces and sells various products, including jet fuels, ultra-low-sulfur diesel (ULSD), naphtha, reformates, liquefied petroleum gas (LPG), specialty solvents and other highly specialized fuels, to commercial and retail customers and the U.S. military.    
The Elmendorf terminal, which is approximately 12 miles away from the refinery, stores the crude oil that is processed at the refinery.