HF Sinclair Accelerates Branded Marketing Growth with Joint Venture
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joint venturefinancial
A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.
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Midstream refers to the phase in the energy supply chain that involves the transportation, storage, and processing of oil and natural gas after extraction from the ground, but before they are refined into usable products. For investors, midstream companies are important because they often generate steady income through fees for moving and storing energy resources, making them a key link between resource producers and consumers.
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Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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DALLAS--(BUSINESS WIRE)--
HF Sinclair Corporation (NYSE: DINO) today announcedthe formation of Green Trail Fuels, LLC (“Green Trail Fuels”), a new joint venture with UPOP Holdings (“UPOP”), in which HF Sinclair will hold a 50% non-operating economic interest. The joint venture will include 30 retail sites across Colorado and New Mexico.
As part of the joint venture, HF Sinclair will supply fuel from its proximate regional refineries, strengthening the company’s branded marketing footprint in the Rockies and Southwest regions.
“This joint venture represents a strategic step forward for our Marketing segment,” said Steve Ledbetter, executive vice president, Commercial, HF Sinclair. “The establishment of this new partnership allows us to accelerate growth of the Sinclair brand at an expedited pace and capture synergies across our integrated asset base.”
Green Trail Fuels is expected to:
Accelerate growth of Sinclair-branded locations through incremental branded retail sites
Create operational and logistics synergies with HF Sinclair’s existing midstream and refining assets
Provide a scalable platform for future growth opportunities that augment its existing wholesale network and are aligned with HF Sinclair’s disciplined growth strategy
Provide exposure to additional margin streams through the partnership
HF Sinclair will supply fuel from its existing refinery locations, with UPOP operating the retail sites as a trusted, growth‑oriented partner.
HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and lubricants and specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah. HF Sinclair provides petroleum product and crude oil transportation, terminalling, storage and throughput services to its refineries and the petroleum industry. HF Sinclair markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacic Northwest and in other neighboring Plains states and supplies high-quality fuels to more than 1,700 branded stations and licenses the use of the Sinclair brand to more than 350 additional locations throughout the country. HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in Artesia, New Mexico. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries.
Forward-Looking Statements
The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements in this press release relating to matters that are not historical facts are “forward-looking statements” based on management’s beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in HF Sinclair’s filings with the Securities and Exchange Commission (the “SEC”). All statements concerning HF Sinclair’s expectations for future results of operations are based on forecasts for HF Sinclair’s existing operations and do not include the potential impact of any future acquisitions. Forward-looking statements use words such as “anticipate,” “project,” “will,” “expect,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding HF Sinclair’s plans and objectives for future operations. Although HF Sinclair believes that the expectations reflected in these forward-looking statements are reasonable, HF Sinclair cannot assure you that HF Sinclair’s expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Any differences could be caused by a number of factors, including, but not limited to, the business, financial, operational and legal risks provided in the reports filed by HF Sinclair with the SEC. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. The forward-looking statements speak only as of the date made and, other than as required by law, HF Sinclair undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
