Delek US Holdings Comments on Colonial Outage
November 01 2016 - 12:04PM
Delek US Holdings, Inc. (NYSE:DK) (“Delek US”) today commented on
the recent outage on the Colonial System and its impact to Delek
US. This was a tragic event and our thoughts and prayers are with
those that have been affected. Delek’s inland refineries are not
located along the Colonial Pipeline system and do not sell directly
into that system or the U.S. Gulf Coast market. In past outages on
the Colonial Pipeline, Delek US was able to substantially support
its retail network with its logistics footprint, while benefiting
from an improved margin environment in its overall business
segments as a result of the market volatility.
About Delek US Holdings,
Inc.Delek US Holdings, Inc. is a diversified downstream
energy company with assets in petroleum refining and
logistics. The refining segment consists of refineries
operated in Tyler, Texas and El Dorado, Arkansas with a combined
nameplate production capacity of 155,000 barrels per day.
Delek US Holdings, Inc. and its affiliates also own approximately
62 percent (including the 2 percent general partner interest) of
Delek Logistics Partners, LP. Delek Logistics Partners, LP
(NYSE:DKL) is a growth-oriented master limited partnership focused
on owning and operating midstream energy infrastructure
assets. Delek US Holdings, Inc. also owns approximately 47
percent of the outstanding common stock of Alon USA Energy, Inc.
(NYSE:ALJ).
Safe Harbor Provisions Regarding
Forward-Looking StatementsThis press release contains
forward-looking statements that are based upon current expectations
and involve a number of risks and uncertainties. Statements
concerning current estimates, expectations and projections about
future results, performance, prospects and opportunities and other
statements, concerns, or matters that are not historical facts are
“forward-looking statements,” as that term is defined under the
federal securities laws.
Investors are cautioned that the following
important factors, among others, may affect these forward-looking
statements. These factors include but are not limited to: risks and
uncertainties with respect to the quantities and costs of crude oil
we are able to obtain and the price of the refined petroleum
products we ultimately sell; gains and losses from derivative
instruments; management's ability to execute its strategy of growth
through acquisitions and the transactional risks associated with
acquisitions and dispositions; acquired assets may suffer a
diminishment in fair value as a result of which we may need to
record a write-down or impairment in carrying value of the asset;
our ability to complete and realize the benefits of the retail
transaction; the effect on our financial results by the financial
results of Alon USA Energy, Inc., in which we hold a significant
equity investment; uncertainty regarding the outcome of our
proposal to acquire the remaining outstanding stock of Alon USA;
changes in the scope, costs, and/or timing of capital and
maintenance projects; operating hazards inherent in transporting,
storing and processing crude oil and intermediate and finished
petroleum products; our competitive position and the effects of
competition; the projected growth of the industries in which we
operate; general economic and business conditions, particularly
levels of spending relating to travel and tourism or conditions
affecting the southeastern United States; and other risks contained
in our filings with the United States Securities and Exchange
Commission.
Forward-looking statements should not be read as
a guarantee of future performance or results and will not be
accurate indications of the times at or by which such performance
or results will be achieved. Forward-looking information is
based on information available at the time and/or management's good
faith belief with respect to future events, and is subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in the statements.
Delek US undertakes no obligation to update or revise any such
forward-looking statements.
U.S. Investor / Media Relations Contact:
Keith Johnson
Delek US Holdings, Inc.
Vice President of Investor Relations
615-435-1366
Alon (NYSE:ALJ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Alon (NYSE:ALJ)
Historical Stock Chart
From Apr 2023 to Apr 2024