Delek Logistics Partners is a midstream MLP formed in 2012 by Delek US Holdings. Delek Logistics provides gathering, processing, transportation, storage, and terminalling services for crude oil, natural gas, water, and refined products, primarily in the Permian Basin and select Gulf Coast areas. Delek Logistics serves two customer types: its parent, Delek US Holdings, whose three refineries in Texas and Arkansas it supports through dedicated pipeline, storage, and transport assets; and third-party Permian Basin producers, for whom it gathers and processes crude, gas, and produced water under dedicated acreage agreements. A key strategic priority is reducing dependence on Delek Holdings — third-party revenues have grown from roughly 40% to approximately 80% of EBITDA on a pro forma basis. Delek Logistics operates through four segments: Gathering and Processing (the largest), Wholesale Marketing and Terminalling, Storage and Transportation, and Investments in Pipeline Joint Ventures (minority equity stakes in four crude oil pipelines). Revenue is primarily fee-based, with per-unit charges for volumes gathered, transported, or processed, and most contracts include minimum volume commitments that insulate results from volume shortfalls. Growth strategy centers on building a full-suite "three-stream" offering — crude, gas, and water — in the Permian Basin, combining organic expansion of its Delaware Basin Libby gas processing complex with acquisitions including 3 Bear Energy, H2O Midstream, and Gravity Water. As an MLP, Delek Logistics does not pay federal income taxes at the partnership level and has increased its quarterly distribution for 51 consecutive quarters.