67 WALL STREET, New York - July 3, 2014 - The Wall Street Transcript has just published its Oil & Gas Review 2014 Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Oil & Gas Review 2014
Companies include: Susser Petroleum Partners LP (SUSP) and many more.
In the following excerpt from the Oil & Gas Review 2014 Report, the President and CEO of Susser Petroleum Partners LP (SUSP) discusses company strategy and the outlook for this vital industry:
TWST: If you would, please start by introducing our readers to Susser Petroleum with a bit of history and background on the MLP itself, its general partner and its relationship with Susser Holdings (SUSS).
Mr. Dewbre: Susser Petroleum Partners LP is a publicly traded partnership engaged in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. Susser Holdings is the owner of our general partner and holds a 50.2% limited partner interest in SUSP. Susser Holdings, through its retail subsidiary, operates the Stripes convenience stores, which is one of the largest C-store chains in Texas and among the top 15 in the United States.
In September of 2012, Susser Holdings spun off Susser Petroleum Partners, which is our wholesale fuel business. The Susser family has been in the business since the 1930s, and the fuel distribution side of the business is where the roots are, but it's grown dramatically over the years. Susser Holdings went public in 2006, and one of the challenges that we had over time was, we felt that our wholesale fuel business was not being fully valued. It was a much smaller business than the retail side of the business, and we didn't think the investment community fully understood the business or appreciated it. With the stable cash flow that the wholesale business was producing, we just felt that it wasn't getting fully valued. So we spun it off in September of 2012, and after doing so, the market is demonstrating what the fair value of the business is. It's been great to see the market value appreciate by over 75% since that time, and Susser Holdings is up significantly as well.
TWST: How significant is the ongoing relationship with Susser Holdings then, and who else is among your current customer base?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.