Are there any details on the non-core assets that P66 is in talks to sell?
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Listen here Boone p tickens, or whatever.
Nothing this side of Delaware is making money.
The DEI program is working for psx.
Cornpop
You mentioned all the sites that make money
Do some work Go Go Go
Sell wrr. That place 🤦🏻♂️
You can make an argument for just about any assets.
The easy money is on all the non-integrated assets we picked up from DCP. If there's not a P66 asset on one end of a pipeline, or it's not carrying P66 products, dump it.
But then there's the coastal refineries (besides Rodeo). High labor costs, feedstock challenges, challenging regulatory environment, low margins, take your pick. Only problem is who in their right mind would buy these assets given the challenges?
So perhaps someone would buy one of the refineries that consistently makes money? Billings is kind of out on its own, not really integrated with other p66 assets much, generally has good cash flow and excellent margins. Would the company give it up for a short term chunk of capital?
Hi taxes and regulation in Ca, Nj, il. That’s my bet. Another cost is hurricane damage. That means gulf coastal is favorable for sell.
Last town hall if you looked at the map with refinery and pipeline assets, seems like midcon and Texas is core…if you are coastal, start packing your bags. Just gotta find someone crazy enough to operate in those awful states.
Let’s start a pool. Min $5 buy in?
LCMC is on the Zillow listing. Redefines Posterchild.
Was anything said about selling WRB?