April 24, 2014 3:31 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Coffeyville Resources Refining & Marketing, LLC

Company Overview

Coffeyville Resources Refining & Marketing, LLC owns and operates an oil refinery in southeastern Kansas. It produces gasoline and diesel fuels, natural gas liquids, heating oil, and propane. The company’s clients include petroleum refiners, convenience store operators, railroads, and farm co-operatives. Coffeyville Resources Refining & Marketing primarily markets its products in Oklahoma, Kansas, Missouri, Nebraska, and Iowa. It also distributes gasoline and diesel fuel to regional distribution centers. The company was incorporated in 2003 and is based in Coffeyville, Kansas. Coffeyville Resources Refining & Marketing, LLC operates as a subsidiary of CVR Energy, Inc.

400 North Linden Street

Coffeyville, KS 67337

United States

Founded in 2003

Phone:

620-251-4000

Key Executives for Coffeyville Resources Refining & Marketing, LLC

Director of Technical Services & Operations Support and Director
Executive Vice President and General Manager
Age: 54
Director of Major Capital Projects and Director
Director of Petroleum Marketing and Director
Environmental Director and Director
Compensation as of Fiscal Year 2013.

Coffeyville Resources Refining & Marketing, LLC Key Developments

Coffeyville Resources Refining & Marketing, LLC Reports Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2013

Coffeyville Resources Refining & Marketing, LLC reported unaudited earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $1,492.6 million compared to $1,132.5 million reported a year ago. The company reported first quarter 2013 gross profit of $227.8 million compared to $78.2 million of gross profit for the first quarter of 2012. First quarter 2013 crude oil throughput totaled 123,639 bpd compared to 88,403 bpd in the first quarter of 2012. Total refining production (excluding internally produced fuel) was 133,733 bpd compared to 94,836 bpd reported a year ago. Total throughput was 131,209 bpd compared to 93,770 bpd reported a year ago.

CVR Energy, Inc. Enters into an Amended and Restated ABL Credit Agreement

On December 20, 2012, Coffeyville Resources LLC, CVR Refining, LP, CVR Refining LLC, Coffeyville Resources Refining & Marketing, LLC, Coffeyville Resources Pipeline, LLC, Coffeyville Resources Crude Transportation, LLC, Coffeyville Resources Terminal, Llc, Wynnewood Energy Company, LLC, Wynnewood Refining Company, LLC and certain of their affiliates entered into the Amended and Restated ABL Credit Facility with a group of lenders and Wells Fargo Bank, National Association, as administrative agent and collateral agent. The Amended and Restated ABL Credit Facility is a senior secured asset based revolving credit facility in an aggregate principal amount of up to $400.0 million with an incremental facility, which permits an increase in borrowings of up to $200.0 million in the aggregate subject to additional lender commitments and certain other conditions. The proceeds of the loans may be used for capital expenditures and working capital and general corporate purposes of the Credit Parties and their subsidiaries. The Amended and Restated ABL Credit Facility provides for loans and letters of credit in an amount up to the aggregate availability under the facility, subject to meeting certain borrowing base conditions, with sub-limits of 10% of the total facility commitment for swingline loans and 90% of the total facility commitment for letters of credit.

Coffeyville Resources Refining & Marketing, LLC and Vitol Inc. Enters into Amended and Restated Crude Oil Supply Agreement

CVR Energy Inc. announced that on August 31, 2012, Coffeyville Resources Refining & Marketing, LLC and Vitol Inc. entered into an amended and restated crude oil supply agreement. The Vitol agreement amends and restates the crude oil supply agreement between CRRM and Vitol dated March 30, 2011, as amended. The terms of the Vitol agreement provide that CRRM will obtain all of the crude oil for the company’s two oil refineries through Vitol, other than crude oil that CRRM acquires in Kansas, Missouri, North Dakota, Oklahoma, Texas, Wyoming and all states adjacent to such states and crude oil that is transported in whole or in part via railcar or truck. Pursuant to the Vitol agreement, CRRM and Vitol work together to identify crude oil and pricing terms that meet CRRM’s crude oil requirements. CRRM and/or Vitol negotiate the cost of each barrel of crude oil that is purchased from third party crude oil suppliers. Vitol purchases all such crude oil, executes all third party sourcing transactions and provides transportation and other logistical services for the subject crude oil. Vitol then sells such crude oil and delivers the same to CRRM. Title and risk of loss for all crude oil purchased by CRRM via the Vitol agreement passes to CRRM upon delivery to one of the company’s delivery points designated in the Vitol agreement. CRRM pays Vitol a fixed origination fee per barrel plus the negotiated cost (including logistics costs) of each barrel of crude oil purchased. The Vitol agreement has an initial term commencing August 31, 2012 and extending through December 31, 2014. Following the initial term, the Vitol agreement will automatically renew for successive one-year terms unless either party provides the other with notice of nonrenewal at least 180 days prior to expiration of the initial term or any renewal term. Notwithstanding the foregoing, CRRM has an option to terminate the Vitol agreement effective December 31, 2013 by providing written notice of termination to Vitol on or before May 1, 2013.

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