Independent refining company (“the Company”) produces gasoline, diesel fuel, jet fuel, lubricants, and asphalt. The Company operates four complex oil refineries with a total crude oil processing capacity of 405,000 barrels per stream day (bbl/sd). In May 2021, the Company announced that it entered agreements with the former owner/operator (“the Seller) to purchase a 149,000 bbl/d refinery located on the U.S. West Coast, as well as on-site cogeneration facility and related logistics assets, for $350 million.
READ MORE: Downstream: Process & Technology: Refinery M&A IT Transition
Opportune was engaged to help plan and execute the transition activities associated with the acquisition of the refinery. A few highlights of the Opportune team’s M&A IT transition efforts included:
Opportune added value to the engagement by providing deep knowledge of refinery yield accounting, downstream hydrocarbon supply chain, and commercial activities, and the IT solutions used to support those business processes.
READ MORE: Midstream: Process & Technology: M&A Systems Integration
The M&A process of a new downstream refining asset is an exciting time for any company, with growth and new possibilities on the horizon. Realizing those possibilities, however, doesn’t come guaranteed with the purchase price—downstream assets are large, complex operational businesses that require preparation and careful integration. Opportune has assisted numerous companies through successful M&A integrations, playing key roles in nine refinery acquisitions (and counting). Leveraging our extensive downstream M&A experience, we develop a framework of plans and accelerators to guide acquisition teams from due diligence through full integration of a refinery into the business.
When you choose Opportune, you gain access to seasoned professionals who not only listen to your needs, but who will work hand in hand with you to achieve established goals. With a sense of urgency and a can-do mindset, we focus on taking the steps necessary to create a higher impact and achieve maximum results for your organization.Leadership
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