Alon USA Partners Elects not to Proceed with Senior Notes Offering and Acquisition of Krotz Springs Refinery from Alon Energy
DALLAS, Nov. 19, 2014 /PRNewswire/ -- In a joint statement today, Alon USA Energy, Inc. (NYSE: ALJ) ("Alon Energy") and Alon USA Partners, LP (NYSE: ALDW) ("Alon Partners") announced that due to market conditions, Alon Partners and its wholly owned subsidiary Alon USA Partners Finance Co. have opted not to move forward with the previously announced senior notes offering or the acquisition of the Krotz Springs Refinery from Alon Energy.
About Alon Energy
Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. Alon owns 100% of the general partner and approximately 82% of the limited partner interests in Alon USA Partners, LP, which owns a crude oil refinery in Texas with an aggregate crude oil throughput capacity of approximately 73,000 barrels per day. In addition, Alon directly owns crude oil refineries in Louisiana and California, with an aggregate crude oil throughput capacity of approximately 144,000 barrels per day. Alon is a leading marketer of asphalt, which it distributes through its asphalt terminals predominately in the Western United States. Alon is the largest 7-Eleven licensee in the United States and operates approximately 300 convenience stores in Texas and New Mexico.
About Alon Partners
Alon USA Partners, LP is a Delaware limited partnership formed in August 2012 by Alon Energy. Alon Partners owns and operates a crude oil refinery in Big Spring, Texas with an aggregate crude oil throughput capacity of approximately 73,000 barrels per day. Alon Partners refines crude oil into finished products, which are marketed primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona through its wholesale distribution network to both Alon Energy's retail convenience stores and other third-party distributors.
Contacts: |
Stacey Hudson |
Investor Relations Manager |
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Alon USA Energy, Inc. |
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Alon USA Partners, LP |
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972-367-3808 |
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Investors: Jack Lascar |
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Dennard ▪ Lascar Associates, LLC |
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713-529-6600 |
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Media: Blake Lewis |
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Lewis Public Relations |
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214-635-3020 |
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Ruth Sheetrit |
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SMG Public Relations |
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011-972-547-555551 |
SOURCE Alon USA Energy, Inc.
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