View source for Delek US

{{short description|Independent refiner and marketer of petroleum products}}
{{tone|date=August 2020}}
{{Infobox company
| name = Delek US Holdings, Inc.
| logo = Delek_US_Holdings,_Inc.png
| type = [[Public company|Public]]
| traded_as = {{NYSE|DK}}
| ISIN = {{ISIN|sl=n|pl=y|US24665A1034}}
| predecessor = [[Total S.A.|Fina]], Alon USA Energy, Inc., [[Empresas Copec|MAPCO Express]], Lion Oil Company
| foundation = {{start date and age|2001}}
| hq_location = [[Brentwood, Tennessee]]
| hq_location_country = U.S.
| key_people = {{Unbulleted list|
* [[Avigal Soreq]] ([[chairman]], [[President (corporate title)|president]] and [[Chief Executive Officer|CEO]])
* [[Reuven Spiegel]] ([[Executive vice president|EVP]] and [[Chief Financial Officer|CFO]])
* Todd O'Malley (EVP and [[Chief commercial officer|CCO]])
* Denise McWatters (EVP [[general counsel]], and corporate secretary)
* Louis LaBella (EVP and president of refining)
* Jared Serff (EVP and [[Chief Human Resource Officer|CHRO]])}}
| num_employees = 3,746
| num_employees_year = 2023
| industry = [[List of petroleum companies|Oil & Gas Refining & Marketing]]
| products = [[Fuels]], [[Petrochemicals]]
| revenue = {{up}}[[United States Dollar|US$]]16.917 billion {{small|(2023)}}<br/>
{{down}}[[United States Dollar|US$]]20.246 billion {{small|(2022)}}<ref>{{Cite web|url=https://www.macrotrends.net/stocks/charts/DK/delek-us-holdings/revenue|title = Delek US Holdings Revenue 2006-2021 &#124; DK}}</ref>
| operating_income = {{increase}}[[United States Dollar|US$]] 683 Million <small>(''FY 2019'')</small><ref name="2019IncomeStatement">[https://www.wikinvest.com/stock/Delek_US_Holdings%2C_Inc_%28DK%29/Data/Income_Statement Delek US Holdings, Inc. (DK) annual SEC income statement filing via Wikinvest.]{{dead link|date=May 2024|bot=medic}}{{cbignore|bot=medic}}</ref>
| net_income = {{increase}}[[United States Dollar|US$]] 305 Million <small>(''FY 2019'')</small><ref name="2019IncomeStatement" />
| homepage = [http://www.delekus.com/ www.delekus.com]
}}
'''Delek US Holdings, Inc.''' is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing headquartered in [[Brentwood, Tennessee]].<ref>{{Cite web|title=Business Entity Detail - Business Services Online|url=https://tnbear.tn.gov/Ecommerce/FilingDetail.aspx?CN=215206049217182118105242208163031015098220044109|access-date=2020-08-03|website=tnbear.tn.gov}}</ref>
The company has a broad platform consisting of:
* A refining system with approximately 300,000 barrels per day of crude through put capacity<ref>{{Cite web|title=Exhibit|url=https://www.sec.gov/Archives/edgar/data/1694426/000169442618000030/dk-ex991earningsreleasex12.htm|access-date=2020-08-03|website=www.sec.gov}}</ref> consisting of four locations and an integrated retail platform that includes approximately 300 locations serving central and west Texas and New Mexico.
* Logistics operations including Delek Logistics, which can benefit from future drop downs and organic projects to support a larger refining system.
* A marketing operation that supplies more than 350 wholesale locations, has unbranded wholesale sales of approximately 145,000 barrels per day of light products in 13 states, and utilizes 450,000 barrels per month of space on the Colonial Pipeline System.
* An integrated asphalt business consisting of operations primarily in Texas, Arkansas, Oklahoma, California and Washington approaching 1 million tons of sales on an annual basis.<ref>{{Cite web|url=https://csnews.com/delek-us-puts-alon-usa-acquisition-books|title=Delek US Puts Alon USA Acquisition in the Books|website=Convenience Store News|date=3 July 2017 |language=en|access-date=2018-12-05}}</ref>
==Operations==
'''Refining'''
* Delek's refining segment owns and operates four inland refineries with a combined crude throughput capacity of 302,000 barrels per day. The refineries are located in Tyler, Texas; Big Spring, Texas; Krotz Springs, Louisiana; and El Dorado, Arkansas.<ref name="Jul. 05">{{Cite web|date=July 5, 2017|first=Greg|last=Lindenberg|title=Delek U.S. Becomes Largest U.S. 7-Eleven Licensee|url=https://www.cspdailynews.com/mergers-acquisitions/delek-us-becomes-largest-us-7-eleven-licensee|access-date=2020-08-03|website=CSP Daily News|language=en}}</ref><ref>{{Cite web|title=Delek US Brings Back Megastore Strategy to Retail Segment|url=https://csnews.com/delek-us-brings-back-megastore-strategy-retail-segment|access-date=2020-08-03|website=Convenience Store News|date=22 February 2019 |language=en}}</ref>
* Delek's system processes primarily light crude oil sourced from the Permian Basin, East Texas, Gulf Coast and local production near Delek's refinery locations.<ref name="Jul. 05"/> In the past two years, Delek has doubled its refining capacity and gained a large presence in the Permian Basin.{{citation needed|date=December 2020}}
'''Logistics'''
* Delek's logistics segment gathers, transports, and stores crude oil, as well as markets, distributes, transports and stores refined product in West Texas and the Southeast U.S. These operations serve as the logistics arm of Delek's company, primarily providing support for Delek's refining operations, while also serving third parties.<ref>{{Cite web|title=Delek Logistics Partners L.P.|url=https://www.marketwatch.com/investing/stock/dkl|access-date=2020-08-03|website=www.marketwatch.com|language=en}}</ref>
'''Retail'''
* Delek's fuel brands are DK and ALON.
'''Renewables'''
* There is increased demand projected for biodiesel, and Delek's three biodiesel plants<ref name="biodieselmagazine.com">{{Cite web|title=Biodiesel Magazine - The Latest News and Data About Biodiesel Production|url=http://biodieselmagazine.com/articles/2516872/2020-biodiesel-plant-map-reflections|access-date=2020-08-03|website=biodieselmagazine.com|language=en}}</ref> serve as strong assets in a growing renewable industry.
* Delek's plants are capable of producing approximately 40 million gallons of biodiesel a year.
* Delek's plants are located in Cleburne, Texas, Crossett, Arkansas, and New Albany, Mississippi.<ref>{{Cite web|title=Biodiesel Magazine - The Latest News and Data About Biodiesel Production|url=http://www.biodieselmagazine.com/plants/listplants/USA/|access-date=2020-08-03|website=www.biodieselmagazine.com}}</ref>
* Delek Renewables utilizes a wide variety of waste stream feedstocks in used cooking oil, poultry fat, beef tallow, and choice white grease (hog fat) as well as vegetable oils such as soybean and canola oil.
==History==
Since 2001, the Company has completed multiple acquisitions in the refining, marketing & logistics, and convenience store industries.{{citation needed|date=December 2020}}
Today, Delek is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels, and convenience store retailing. Key events in its history are summarized below:
'''Acquisitions/Divestitures'''
* May 2001: Acquired MAPCO Express, Inc., with 198 retail fuel and convenience stores<ref>{{Cite web|title=Delek to pay Mapco Express $147m for 198 gas stations and stores|url=https://www.thestreet.com/technology/delek-to-pay-mapco-express-147m-for-198-gas-stations-and-stores-1382531|access-date=2020-07-29|website=TheStreet|date=9 April 2001 |language=en-us}}</ref><ref>{{Cite web|title=Delek U.S. Holdings Inc./Mapco|url=https://www.cspdailynews.com/top-202-convenience-stores-2014/delek-us-holdings-incmapco|access-date=2020-07-29|website=CSP Daily News|language=en}}</ref>
* April 2005: Acquired the Tyler Refinery and its related assets<ref>{{Cite web|title=Tyler – Delek US|url=https://www.delekus.com/partnering-with-us/refining/tyler/|access-date=2020-07-21|website=www.delekus.com}}</ref>
* July 2006: Acquired of 40 Retail Fuel and Convenience Stores From Fast Petroleum<ref>{{Cite web|title=Delek US Holdings Completes Purchase of Retail Fuel and Convenience Stores From Fast Petroleum |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-completes-purchase-retail-fuel-and-convenience|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|title=10-K|url=https://www.sec.gov/Archives/edgar/data/1351541/000095012309004299/y75058e10vk.htm|access-date=2020-07-29|website=www.sec.gov}}</ref>
* August 2006: Acquired of Refining Equipment, Pipelines, Storage Tanks and Terminals From Pride Companies<ref>{{Cite web|title=Delek US Holdings Announces Agreement to Acquire Majority Equity Interest in Lion Oil Company |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-announces-agreement-acquire-majority-equity|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref>
* October 2011: Acquired sole ownership of Lion Oil Company, with a refinery, pipeline and other refining, product terminal, and crude oil pipeline assets in and around El Dorado, Arkansas, and product terminals in Memphis and Nashville, Tennessee<ref>{{Cite web|title=Delek US Holdings Acquires Remaining Equity Interest in Lion Oil Company|url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-acquires-remaining-equity-interest-lion-oil|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|title=Delek US buys out remaining private owners of Lion Oil for $13 million|url=http://www.magnoliareporter.com/news_and_business/local_business/article_72e5ba40-f50c-11e0-a87e-001cc4c03286.html|access-date=2020-07-23|website=Magnolia Reporter - Magnolia, Arkansas News|date=12 October 2011 |language=en}}</ref>
* January 2013: Announced Agreement to Purchase a Biodiesel Facility in Cleburne, Texas from EQM Technologies & Energy, Inc.<ref>{{Cite web|title=Delek US Holdings Announces Agreement to Purchase a Biodiesel Facility in Texas |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-announces-agreement-purchase-biodiesel|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|title=Delek closes buy of Texas biodiesel plant from EQM Technologies|url=https://renewablesnow.com/news/delek-closes-buy-of-texas-biodiesel-plant-from-eqm-technologies-327475/|access-date=2020-07-23|website=Renewablesnow.com|language=en}}</ref>
* February 2014: Announced Agreement to Purchase a Biodiesel Facility in Crossett, Arkansas<ref>{{Cite web|title=Delek US Holdings, Inc. 10-K Feb. 27, 2017 9:27 PM|url=https://seekingalpha.com/filing/3432738|access-date=2020-08-03|website=Seeking Alpha|language=en}}</ref><ref>{{Cite web|title=Crossett – Delek US|url=https://www.delekus.com/partnering-with-us/renewables/crossett%E2%80%8B/|access-date=2020-07-21|website=www.delekus.com}}</ref>
* November 2016: Completed Sale of MAPCO Retail Related Assets for $535 million<ref>{{Cite web|date=2016-08-29|title=Delek to Sell MAPCO to COPEC|url=https://cstoredecisions.com/2016/08/29/delek-sell-mapco-copec/|access-date=2020-07-29|website=CStore Decisions|language=en-US}}</ref><ref>{{Cite web|title=Delek US Completes Sale of Retail Related Assets for $535 million |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-completes-sale-retail-related-assets-535-million|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|last1=Jourden|first1=Aaron|date=November 15, 2016|first2=Greg|last2=Lindenberg on|title=Delek U.S. Completes Mapco Sale to COPEC|url=https://www.cspdailynews.com/mergers-acquisitions/delek-us-completes-mapco-sale-copec|access-date=2020-07-23|website=CSP Daily News|language=en}}</ref>
* March 2018: Sold refineries in [[Paramount, California]] and [[Long Beach, California]] to World Energy LLC.<ref>{{cite web | url=https://www.ogj.com/general-interest/companies/article/17295630/delek-divests-idled-california-refining-logistics-assets | title=StackPath | date=20 March 2018 }}</ref>
* November 2018: Announced Big Spring Crude Oil Gathering System in the Permian Basin<ref>{{Cite web|title=Delek US Holdings Reports Third Quarter 2018 Results |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-reports-third-quarter-2018-results|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref>
* May 2019: Acquired 33% Interest in Red River pipeline joint venture<ref name=":0">{{Cite web|title=Delek US Holdings Reports Second Quarter 2019 Results |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-reports-second-quarter-2019-results|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|title=Delek pays $128M for 33% of Plains' Red River system – Kallanish Energy News|url=https://www.kallanishenergy.com/2019/05/29/delek-pays-128m-for-33-of-plains-red-river-system/|access-date=2020-07-23|language=en-US}}</ref><ref>{{Cite web|date=2019-05-28|title=Plains All American Announces Expansion and Joint Venture of Red River Pipeline with Delek Logistics|url=https://www.businesswire.com/news/home/20190528005145/en/Plains-American-Announces-Expansion-Joint-Venture-Red|access-date=2020-07-29|website=www.businesswire.com|language=en}}</ref>
* August 2019: Acquired 15% Interest in Wink to Webster Pipeline LLC<ref>{{Cite web|title=Delek US to acquire stake in Wink to Webster Pipeline in Texas|url=https://www.nsenergybusiness.com/news/delek-us-wink-to-webster-pipeline/|access-date=2020-07-29|language=en-US}}</ref><ref name=":0" />
* November 2019: Announced Agreement to Purchase a Biodiesel Facility in New Albany, Mississippi<ref name="biodieselmagazine.com"/><ref>{{Cite web|title=Biodiesel Magazine - The Latest News and Data About Biodiesel Production|url=http://biodieselmagazine.com/articles/2516872/2020-biodiesel-plant-map-reflections|access-date=2020-07-29|website=biodieselmagazine.com|language=en}}</ref><ref>{{Cite web|title=New Albany – Delek US|url=https://www.delekus.com/partnering-with-us/renewables/crossett%e2%80%8b/|access-date=2020-07-21|website=www.delekus.com}}</ref>
* May 2020: Sold Bakersfield Refinery to Global Clean Energy Holdings<ref>{{Cite web|title=Delek Sells Stake in California Refinery|url=https://www.rigzone.com/news/delek_sells_stake_in_california_refinery-11-may-2020-162037-article/|access-date=2020-07-29|website=www.rigzone.com|language=en}}</ref><ref>{{Cite web|title=Delek US Holdings Announces Closing of Bakersfield Refinery Sale|url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-announces-closing-bakersfield-refinery-sale|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref>
* June 2022: Acquired 3Bear Energy through Delek's master limited partnership, Delek Logistics Partners, LP. 3Bear's operations included crude oil and gas gathering, processing and transportation businesses, as well as water disposal and recycling operations in the Delaware Basin in New Mexico.<ref>{{Cite press release|title=Delek Logistics Partners, LP Announces Closing of Acquisition from 3Bear Energy|url=https://www.prnewswire.com/news-releases/delek-logistics-partners-lp-announces-closing-of-acquisition-from-3bear-energy-301559321.html|access-date=2023-01-12|website=www.prnewswire.com|language=en}}</ref>
'''Mergers'''
* May 2015: Acquired 33.7 million shares of common stock of Alon USA Energy, Inc. This represented approximately 48% of Alon USA shares outstanding in May 2015<ref>{{Cite web|title=Delek US $DK to Acquire Remaining 53% Stake in Alon USA $ALJ for $464M |url=https://mehlpartners.com/delek-us-dk-to-acquire-remaining-53-stake-in-alon-usa-alj-for-464m/|access-date=2020-07-29|language=en-US}}</ref><ref>{{Cite web|title=Delek US Announces Agreement to Acquire 48 Percent Ownership Interest in Alon USA |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-announces-agreement-acquire-48-percent-ownership|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref>
* July 2017: Acquired the remaining shares of common stock of Alon USA Energy, Inc. Operations included refining, retail, asphalt, and renewable fuel, including [[Paramount Petroleum]].<ref>{{Cite web|title=Delek US Holdings to Acquire Remaining 18.4 Percent of Outstanding Units of Alon USA Partners |url=https://ir.delekus.com/news-releases/news-release-details/delek-us-holdings-acquire-remaining-184-percent-outstanding|access-date=2020-07-21|website=ir.delekus.com|language=en}}</ref><ref>{{Cite web|title=StackPath|url=https://www.ogj.com/refining-processing/article/17289683/delek-us-alon-usa-complete-merger|access-date=2020-07-23|website=www.ogj.com|date=3 July 2017 }}</ref>
==References==
{{Reflist}}
==External links==
{{official website|http://www.delekus.com}}
{{Finance links
| name = Delek US Holdings, Inc.
| symbol = DK
| reuters = DK.N
| bloomberg = DK:US
| sec_cik = DK
| yahoo = DK
| google = DK
}}
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[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Oil companies of the United States]]
[[Category:American subsidiaries of foreign companies]]
[[Category:Companies based in Tennessee]]
[[Category:2006 initial public offerings]]
[[Category:Williamson County, Tennessee]]