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TheStreet Open House

Western Refining's CEO Presents At UBS Global Oil And Gas Conference (Transcript)

Western Refining Inc. (WNR)

UBS Global Oil and Gas Conference Call

May 23, 2012 01:30 pm ET

Executives

Jeff Beyersdorfer - SVP & Treasurer

Analysts

Presentation

Unidentified Analyst

We will move on to our next presentation. Coming up next we have Jeff Beyersdorfer, Senior Vice President and Treasurer of Western Refining. Jeff, I will turn it over to you.

Jeff Beyersdorfer

Alright thanks Craig. So I am going to walk around and interact with the crowd since we've got such a small crowd here. We just lost one. So sorry a [clicker] or will you? Thank you. Okay, three things I want to do today, just quickly describe the asset base and within embedded in those comments is going to be some comments around the Midland/Cushing differential because it is a new phenomena and I've got a couple of maps in here, I will describe that phenomena and talk about how it affects our operations. Secondly talk about some of the projects that we are doing this year, some of the initiatives we have going on and particularly the uses of cash and then finally I want to talk about the balance sheet because there have been some lingering issues with respect to the balance sheet over time and we work pretty hard on rectifying those and want to share with you some of those things we’ve done and some additional initiatives we have around the balance sheet.

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