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Monroe Energy, Bridger agreement to supply 65,000 barrels of crude daily to Trainer refinery

Five-year agreement provides lower-cost domestic crude as part of Delta's fuel cost strategy

Delta Air Lines and the Delta Connection carriers offer service to nearly 370 destinations on six continents. For more information visit news.delta.com. (PRNewsFoto/Delta Air Lines) (PRNewsFoto/)

News provided by

Delta Air Lines

Jul 21, 2014, 09:00 ET

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ATLANTA and DALLAS, July 21, 2014 /PRNewswire/ -- Monroe Energy LLC, a subsidiary of Delta Air Lines (NYSE: DAL), has entered into a five-year agreement with Bridger, LLC, a leading midstream energy company, to supply 65,000 barrels of domestic crude oil daily to its refinery in Trainer, Pa.

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Bridger, LLC (PRNewsFoto/Delta Air Lines)
Bridger, LLC (PRNewsFoto/Delta Air Lines)

The agreement, which will supply about one-third of the crude oil refined daily at the facility, is a significant step in Delta's strategy to manage the cost of jet fuel, which is the airline's No. 1 expense. The lower-cost domestic crude from the Bakken oil fields in North Dakota replaces more expensive crude that historically has been shipped to the refinery from overseas.

"This strategic agreement with Bridger is a key milestone in our strategy to manage the cost of jet fuel. By combining this transaction with our other sources of domestic crude supply, we expect to meet our goal of a minimum of 70,000 barrels per day of domestic crude sourcing at the refinery," said Graeme J. Burnett, senior vice president – Fuel Optimization for Delta and chairman of Monroe. "Supplying a third of the crude refined at Trainer from the Bakken further reduces the overall cost of fuel for Delta, adding to the significant benefits we already see from Monroe Energy, in combination with our robust fuel hedging program, fleet efficiency improvements and fuel conservation efforts."

"We are proud to partner with a world-class airline such as Delta on a first-of-its-kind crude sourcing and transportation agreement that directly connects the oilfield to the jet engine," said Julio E. Rios II, President and Chief Executive Officer of Bridger.  "This transaction reflects our commitment to deploy midstream assets to link upstream domestic producers with downstream refineries to further promote U.S. energy independence."

Bridger consists of five distinct business divisions, which will all play a key role in fulfilling this agreement, including Terminals and Pipelines, Truck Transportation, Marketing, Rail Transportation and Maritime Logistics. The company recently invested $200 million to acquire 1,300 new railcars that exceed current safety specifications for crude oil tank cars to add to its existing state-of-the-art railcar fleet. These railcars will be among the mix of assets used to alleviate infrastructure constraints on the East Coast and will be utilized in transporting oil to the Trainer refinery.

About Bridger, LLC
Bridger is a U.S.-based provider of midstream logistics services to the energy industry.  In 2013, Bridger was ranked the fastest growing private energy company and the fourth fastest growing private company overall by Inc. magazine.  Based in Dallas, Texas, Bridger maintains an integrated crude oil-focused midstream infrastructure platform providing logistics and transportation services across the entire energy value chain that includes 23 pipeline terminals, state-of-the-art railcars, more than 450 crude-hauling trucks, one million barrels of crude oil storage, two pipelines, additional pipeline capacity, and Jones Act tonnage for marine deliveries. Bridger's operations span 14 states and include all major U.S. crude oil production regions and basins, including the Permian, Bakken, Rockies, Niobrara, Mid-Continent, Gulf Coast and Eagle Ford. The company currently provides flow assurance and crude oil markets to its customers for over 400,000 barrels of crude oil per day through its logistics assets.

About Delta Air Lines
Delta Air Lines serves nearly 165 million customers each year. This year, Delta was named the 2014 Airline of the Year by Air Transport World magazine and was named to FORTUNE magazine's 50 Most Admired Companies, in addition to being named the most admired airline for the third time in four years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 333 destinations in 64 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a newly formed joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Minneapolis-St. Paul, New York-JFK, New York-LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products, services and technology to enhance the customer experience in the air and on the ground. Additional information is available on delta.com, Twitter @Delta, Google.com/+Delta, Facebook.com/delta and Delta's blog takingoff.delta.com.

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SOURCE Delta Air Lines

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