The Online Investor
Energy M&A image Energy M&A » By The Online Investor Staff, updated Tue., Aug. 11, 9:09 AM Recent mergers and acquisitions in the Energy M&A category.

Slide #89. Sprague Resources LP Hess' Commercial Fuels Business

Acquirer: Sprague Resources LP (NYSE:SRLP)
Acquiree: Hess' Commercial Fuels Business
Details: Sprague Resources LP (NYSE: SRLP) ("Sprague") announced today that it has completed the acquisition of the Commercial Fuels business of Hess Corporation ("Hess") outside of the New York City service area for the purchase of inventory valued at $30 million on December 30, 2013. The transaction includes approximately 10 million gallons of inventory; refined product purchase, sale and storage agreements; and the assumption of existing supply contracts to former Hess customers in 13 states along the East Coast. The assumed contracts represent an estimated 90 million gallons per year of refined product sales. Newly acquired customers include state and municipal transportation authorities, school districts, commercial customers and several major fleet operators.

Sprague Resources is a wholesale distributor of refined products. Co.'s segments include: refined products, in which Co. purchases a variety of refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel and gasoline, and sells them to its customers; natural gas, in which Co. purchases natural gas from natural gas producers and trading companies and sells and distributes natural gas to commercial and industrial customer; materials handling, in which Co. offloads, stores and/or prepares for delivery a variety of customer-owned products; and other operations, which include the marketing and distribution of coal conducted in its Portland, ME terminal.

Open the SRLP Page at The Online Investor »

Company Name: 
Sprague Resources LP
Website: 
www.spragueenergy.com
Sector: 
Oil & Gas Equipment & Services
 

Open the SRLP Page at The Online Investor (in a new window) »

Quotes delayed 20 minutes



Hold (1.50 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite

Energy M&A - Slide 89 of 100 Page | www.TheOnlineInvestor.com

Copyright © 1998 - 2020, All Rights Reserved
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.