About LPC Crude Oil Marketing LLC
Welcome to LPC Crude Oil Marketing LLC.
LPC Crude Oil Marketing LLC is a leader in the gathering, marketing, and transporting of oil and condensate in the Permian Basin. As a privately held company, LPC has a long range plan for steady growth based on strategic business principles, with our continued focus on providing excellent customer service. Our team of professionals is committed to the energy industry in West Texas and Eastern New Mexico, and serves to promote a strong business and community presence.
LPC Crude Oil Marketing LLC and Vitol, Inc. Announce Partnership Agreement
Vitol Inc., the U.S. subsidiary of the global Vitol Group, today announced it had formed a partnership with Midland-based LPC Crude Oil Marketing LLC and had acquired fifty-percent of the company. The company will conduct operations as LPC Crude Oil Marketing LLC. LPC Crude Oil is a leader in the gathering, marketing, and transporting of oil and condensate in the Permian Basin. As a privately held company, LPC Crude has a long term plan for steady growth with a continued focus on providing excellent customer service.
LPC Crude will continue to operate as a separate entity focusing on its core customer base. The entire management team will remain in place. The new partnership will provide additional reach and resources to grow and better help operators in the Permian Basin move their oil to market, while continuing to provide the excellent customer service that LPC Crude Oil Inc. is known for in the region.
“Vitol is pleased to be joining efforts with the team at LPC Crude Oil to increase both company’s efforts to service Permian Basin crude oil producers,” said Mike Loya, President of Vitol, Inc. “LPC’s President Steve Mills and his team have deep roots in the region, and we look forward to the Vitol-LPC venture broadening our reach and helping us to pursue growth opportunities there.”
“This is a great opportunity for LPC to partner with an industry leader,” said LPC President Steve Mills. “Vitol brings both the financial heft and expanding terminalling and logistics presence in the Permian to help us grow rapidly while still maintaining the small-company atmosphere that allows us to serve our customers so well.”
About the Vitol Group. The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then the company has grown significantly to become a major participant in world energy markets and is now the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, power, metals and carbon emissions. Vitol trades with all the major national oil companies, the integrated oil majors and the independent refiners and traders. Globally Vitol trades over 5.5 million barrels of crude oil and products per day and revenues in 2011 were $297 billion. Vitol currently owns and operates over 100,000 barrels a day of refining assets in Fujairah and Antwerp. In addition to its trading and refining business and its 50% share in the storage and terminals business VTTI, which has 13 terminals on five continents with around 8 million cubic meters of storage, Vitol has an exploration and production business which includes interests in Ghana, Cameroon, Kazakhstan, Russia and Azerbaijan and a thermal coal mine in British Columbia, Canada. Further details on Vitol are available at www.vitol.com
About LPC Crude Oil Marketing LLC. Currently, LPC purchases approximately 50,000 barrels of oil per day at the lease, and operates a fleet of 40 tractors and trailers. In Upton and Martin counties, LPC has forty one miles of pipeline in operation. Our company disperses to approximately 5000 owners on 1000 leases in Texas, New Mexico and Colorado. LPC is headquartered in Midland, Texas, and is led by the management team of Steve Mills, President and CEO, Tim Kohn, Executive Vice President and COO, Daniel Carter, Operations Vice President and Chance Fletcher, Chief Financial Officer. The main office telephone number is (432) 682-8555.
Chi Operating, Inc. has used LPC Crude Oil for several years on numerous leases in Eastern New Mexico and West Texas. In addition to getting our oil to market, LPC also maintains division of interests, and disperses to our interest owners. Their team of professionals is an asset to our company’s operations.
As a client of LPC Crude Oil, our company has been extremely satisfied with the level of service provided
at the lease, and in the area of marketing crude oil. The experienced and knowledgeable staff is well
prepared to serve the energy needs of the Permian Basin.
LPC Crude Oil has been transporting and marketing crude oil for J. M. Cox Resources since 2004, and our company has benefited from their excellent service in the field, as well as their professional marketing of our product. LPC’s commitment to our industry is evident in the level of support they provide for oil and gas operators.
©2014 LPC Crude Oil Marketing LLC
All Rights Reserved.
P.O. Box 3821
Midland, TX 79702