Alon USA Finishes Edgington Oil Co. Acquisition
DALLAS -- After the Federal Trade Commission last week granted the company early termination of the waiting period required to close an acquisition, Alon USA Energy Inc., headquartered here, has swiftly completed the acquisition of Edginginton Oil Co.
The acquisition consists of Edgington's 40,000-barrel-per-day refinery. Alon plans to use heavy crude oil at the refinery, producing 35,000 barrels per day. The refinery is linked to others in the area, as well as to pipeline systems -- including one to the Long Beach dock -- which will give the company more flexibility in sending crude outside of California.
"With the completion of this acquisition, our crude throughput capacity rises to approximately 170,000 barrels per day," said Jeff Morris, Alon's president and CEO. "We look forward to integrating the Edgington refinery with our recently acquired Paramount refineries and asphalt terminals, which will allow us to continue to grow by leveraging our expertise in refining heavy crudes and producing asphalt."
Alon USA Energy Inc. is an independent refiner and marketer of petroleum products, operating in the southwestern and western U.S. Alon owns and operates four sour and heavy crude oil refineries in Texas, California and Oregon, with a crude oil capacity of 170,000 barrels per day. The company also markets gasoline and diesel under the FINA brand for the more than 200 convenience stores that it operates in West Texas and New Mexico under the 7-Eleven and FINA banners.
The acquisition consists of Edgington's 40,000-barrel-per-day refinery. Alon plans to use heavy crude oil at the refinery, producing 35,000 barrels per day. The refinery is linked to others in the area, as well as to pipeline systems -- including one to the Long Beach dock -- which will give the company more flexibility in sending crude outside of California.
"With the completion of this acquisition, our crude throughput capacity rises to approximately 170,000 barrels per day," said Jeff Morris, Alon's president and CEO. "We look forward to integrating the Edgington refinery with our recently acquired Paramount refineries and asphalt terminals, which will allow us to continue to grow by leveraging our expertise in refining heavy crudes and producing asphalt."
Alon USA Energy Inc. is an independent refiner and marketer of petroleum products, operating in the southwestern and western U.S. Alon owns and operates four sour and heavy crude oil refineries in Texas, California and Oregon, with a crude oil capacity of 170,000 barrels per day. The company also markets gasoline and diesel under the FINA brand for the more than 200 convenience stores that it operates in West Texas and New Mexico under the 7-Eleven and FINA banners.