HollyFrontier Corporation Reports Operating Results for Second Quarter Ended June 30, 2014; Provides Production Guidance for the Third Quarter of 2014; Provides Capex Guidance for the Full Year of 2014
August 06, 2014 at 08:30 am EDT
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HollyFrontier Corporation reported operating results for second quarter ended June 30, 2014. For the quarter, the company reported crude throughput of 439,000 barrels per day versus guidance of 425,000. The company ran 23% sour and 80% WCS and black wax crude. The company's average laid-in crude cost across refining system was $3.90 -- pardon me, $3.97 per barrel under WTI.
For the third quarter of 2014, the company expects to run 405,000 barrels per day of crude, with 17% of the slate being priced-advantaged heavy and waxy crudes, and 23% sour crudes.
The company maintained its full year 2014 capex guidance of approximately $400 million and turnaround spending of $77 million.
HF Sinclair Corporation is an independent energy company that produces and markets light products, such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. It has five segments: Refining, Renewables, Marketing, Lubricants & Specialties, and Midstream. The Refining segment includes the operations of its El Dorado, Tulsa, Puget Sound, Navajo, Woods Cross, Parco and Casper Refineries and Asphalt. The Renewables segment includes the operations of the Artesia, Cheyenne and Sinclair RDUs and the Artesia PTU. The Marketing segment includes branded fuel sales. The Lubricants & Specialties segment includes the operations of its Petro-Canada Lubricants, Red Giant Oil and Sonneborn businesses in addition to specialty lubricant products produced at its Tulsa West refinery. The Midstream segment includes petroleum product and crude pipelines, terminal, tankage and loading rack facilities, and refinery processing units that primarily support its refining operations.
HollyFrontier Corporation Reports Operating Results for Second Quarter Ended June 30, 2014; Provides Production Guidance for the Third Quarter of 2014; Provides Capex Guidance for the Full Year of 2014