Record Utilization in Refining
Achieved 99% utilization, the highest quarter since 2018, and above industry average, with a year-to-date clean product yield of 87%.
Strong Financial Performance
Adjusted earnings were $1 billion or $2.52 per share, with $1.2 billion of operating cash flow generated during the quarter.
Midstream and Chemicals Growth
Chemicals generated solid returns despite a challenging market, operating above 100% utilization. Dos Pico's two gas plant became fully operational, contributing to record NGL throughput and fractionation volume.
Successful Asset Acquisitions
Acquired the remaining 50% interest in the Wood River and Borger refineries, simplifying the portfolio and enhancing ability to capture synergies across the value chain.
Western Gateway Pipeline Project
Announced open season for a new refined products pipeline to supply Arizona, California, and Nevada, enhancing integration and market access.