This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Western Refining's Management Presents At Deutsche Bank Leveraged Finance Conference (Transcript)

Stocks in this article: WNR

Western Refining (WNR)

Presentation at Deutsche Bank Leveraged Finance Conference

October 13, 2011 8:35 a.m. ET

Executives

Jeff Beyersdorfer - Treasurer and Head of Investor Relations

Analysts



Kathryn O’Connor - Deutsche Bank

Presentation

Kathryn O’Connor

Good morning, and welcome to day two of the Deutsche Bank Leveraged Finance Conference. My name is Kathryn O’Connor. I cover energy here at Deutsche Bank on the high-yield side. First up, in terms of our energy companies, is Western Refining. From the company we have Jeff Beyersdorfer. He’s the treasurer and head of investor relations.

Jeff Beyersdorfer

Good morning. Thanks for coming. Again, my name is Jeff Beyersdorfer, treasurer and head of investor relations. If you don’t mind, I’m going to walk around a little bit as I make remarks about the slides.

Over the next 25 minutes, I want to talk about three topics, or hit three things. One is a brief overview of our asset base and the markets in which we operate. Number two, talk about the well-documented already WTI Brent Spread, both what implications that has for us from an operational perspective and also from a hedging perspective. And then number three, spend a little bit of time on the capital structure of the company and talk about some of our initiatives for the capital structure longer term.

So quickly, a brief overview of the company. We’re mainly a Southwest-based/focused company. Two operating refineries, one in El Paso, Texas, one in northern New Mexico. Combined, about 150,000 barrels a day of production. We also have a retail business, about 206 retail stores, primarily in the four corners region of the U.S. We also have a wholesale business that distributes about 70,000 barrels a day of product from El Paso and Gallup.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs