Indianapolis-based Calumet Specialty Products Partners and Bismarck-based MDU Resources Group Inc. are building the $350 million Dakota Prairie Refinery, the first greenfield refinery built in the U.S. since 1976.
Calumet Specialty Products Partners LP on Wednesday reported a profitable third quarter as sales improved and its refineries returned to full strength.
Calumet Specialty Products Partners LP suffered a bigger-than-expected second-quarter loss, partly due to a 30-day slowdown for maintenance at its refinery in Shreveport, Louisiana.
Profit shot up for some, while others fought setbacks.
Calumet Specialty Products Partners LP plans to spend $25 million acquiring a 22-percent stake in a gas-to-liquids plant in Louisiana.
Indianapolis-based Calumet Specialty Products Partners LP plans to lower its leverage by increasing earnings rather than cutting debt that is rising by 35.6 percent this month.
Calumet Specialty Products said it plans to complete its acquisition of ADF Holdings by March 31. ADF is the parent of Tulsa-based Anchor Drilling Fluids USA Inc., a leading provider of drilling-fluid solutions to the oil and gas industry.
The decline in the stock price has pushed the dividend yield ever-higher, with Calumet now boasting the 18th-largest yield among the more than 3,000 companies that trade on NASDAQ.
The Indianapolis-based processor of crude oil blamed its loss on tighter profit margins and higher operating costs. It has been on an acquisition spree since 2011.
Bel-Ray Co. deal brings East Coast ports to Indianapolis-based Calumet.
Calumet Specialty Products Partners LP processes crude oil into a variety of customized lubricating oils, solvents and waxes, as well as into gasoline, diesel and jet fuel.
Shares of Calumet Specialty Products Partners LP dropped as much as 8 percent early Wednesday after the Indianapolis-based company reported a dramatic decline in profit in the second quarter.
An acquisition spree helped oil refiner Calumet Specialty Products increase profit almost five-fold in 2012, the Indianapolis-based company reported Wednesday morning.
Calumet Specialty Products Partners LP plans to build a $300 million diesel refinery in North Dakota as part of a joint venture with energy company MDU Resources Group Inc., the firms announced after markets closed Thursday.
Petroleum refiner Calumet Specialty Product Partners is exploring whether to build a crude oil loading dock on Lake Superior, near its refinery in Superior, Wis., to ship crude oil on the Great Lakes.
Indianapolis-based Calumet Specialty Products Partners LP said Monday that it is buying NuStar's San Antonio, Texas, refinery assets for about $115 million.
Better profitability in crude-oil refining has prodded Calumet Specialty Products Partners LP into a $1 billion flurry of acquisitions over the past year.
Calumet Specialty Products Partners LP’s profit more than doubled in the third quarter, helped by huge gains in the fuel-products side of its business following several acquisitions.
The Indianapolis-based company said Wednesday morning that profit soared to $65.7 million compared with a loss of $7.7 million in the second quarter of 2011.
Indianapolis-based Petroleum refiner Calumet Specialty Products Partners LP is buying high-performance lubricants maker Royal Purple Inc. of Porter, Texas, for about $335 million, the companies announced Wednesday morning.
