Adams Resources & Energy Inc - Company Profile
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Business Description
Adams Resources & Energy Inc (Adams Resources) is primarily engaged in the marketing, transportation, and storage of crude oil. The company operates in various crude oil and natural gas basins in the US. Its activities include truck and pipeline transportation of crude oil, and terminalling and storage.
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Business Segments
Overview
Operations include crude oil marketing activities such as the sale and delivery of crude oil purchased either directly from producers or from others on the open market. crude oil activities include a fleet of 163 tractor-trailer rigs, the majority of which are owned and operated and used to transport crude oil. It maintains approximately 180 pipeline inventory stations. Serves major oil and chemical companies and large and mid-sized industrial companies. Views to build long-term profitable relationships with customers in terms of customer service, safety, and reliability.
Performance
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Overview
The segment transports pressurized gases, liquid chemicals, asphalt and dry bulk on a for hire basis throughout the US, Canada and Mexico through its subsidiary, Service Transport Company (STC). Plans to achieve safety, flexibility, size, and capabilities which would provide a competitive advantage over other carriers STC operates seventeen terminals in ten states of the US; including in Texas, Louisiana, Florida, Georgia, Alabama, North Carolina, Ohio, West Virginia, Tennessee; and Illinois.
Performance
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Overview
Consists of the operations of two wholly-owned subsidiaries, Firebird and Phoenix. Firebird transports crude oil, condensate, fuels, oils and other petroleum products on a for-hire basis in the Eagle Ford basin. Phoenix repurposes and finds beneficial uses for off-specification fuels, lubricants, crude oil and other chemicals from producers in the US.
Performance
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Overview
Generate revenue by transporting crude oil on the company’s pipeline and providing storage and terminalling services for customers. Consists of the activities of GulfMark's fully owned subsidiaries, VEX, which it purchased in October 2020, and GMT, which was established in October 2020. Together, these entities operate the VEX Pipeline System.
Performance
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