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8-K - FORM 8-K - Western Refining, Inc. | d84577e8vk.htm |
EXHIBIT 99.1
Investor and Analyst Contact: |
Media Contact: | |
Jeffrey S. Beyersdorfer
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Gary Hanson | |
(915) 534-1400
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(915) 534-1400 |
WESTERN REFINING TO PARTICIPATE IN MACQUARIE CAPITAL (USA) INC.
FALL 2011 REFINING AND E&P FORUM
FALL 2011 REFINING AND E&P FORUM
EL PASO, Texas September 12, 2011 Western Refining, Inc. (NYSE:WNR) announced today that
Company management will participate in the Fall 2011 Refining and E&P Forum hosted by Macquarie
Capital (USA) Inc. in Denver, Colorado. The Conference is currently scheduled for Tuesday,
September 13, 2011. The meeting materials will be available at 8:00 AM Mountain Time, Tuesday,
September 13, 2011, on the Investor Relations section of Western Refinings website at www.wnr.com.
The presentation will be archived and remain available on www.wnr.com until November 3, 2011.
About Western Refining
Western Refining, Inc. is an independent refining and marketing company headquartered in El Paso,
Texas. Western operates refineries in El Paso, and Gallup, New Mexico. Westerns asset portfolio
also includes refined products terminals in Albuquerque and Bloomfield, New Mexico and Yorktown,
Virginia, asphalt terminals in Phoenix and Tucson, Arizona, Albuquerque, and El Paso, retail
service stations and convenience stores in Arizona, Colorado, and New Mexico, a fleet of crude oil
and finished product truck transports, and wholesale petroleum products operations in Arizona,
California, Colorado, Nevada, New Mexico, Texas, Utah, Virginia and
Maryland. More information about the Company is
available at www.wnr.com.
Forward Looking Statement
The presentation referenced in this release contains forward-looking statements which are protected
as forward-looking statements under the Private Litigation Securities Reform Act of 1995. The
forward-looking statements contained herein include statements about future: crude oil slates and
capacities at our refineries; refined products supply and demand; refining margins, benchmark
margins and crack spreads, gross margins or operating margins; local and domestic crude oil
production growth; Canadian crude imports; seasonality in the forward curve; discounts of WTI
priced crude oil to Brent priced crude oil; new and existing pipeline and logistics infrastructure
in the Southwest and other regions; supply / demand and takeaway capacity at Cushing; profitability
of crack spread hedging and the gains or losses associated therewith; our ability to successfully
convert Yorktown to a terminal and storage operating model, enhancement and maximization of
Yorktowns storage and terminal facility, our ability to successfully negotiate third-party
terminalling and storage services agreements and/or the sale of the terminal assets at Yorktown,
our ability to achieve consistent EBITDA at Yorktown or our ability to resume refining operations
at Yorktown; continued Wholesale customer relationships; continued growth in our Retail groups
operating income, ability of our Retail group to continue to sell most of our Gallup refinerys
production, and merchandise sales and future organic growth of the Retail group; our ability to
capitalize on Permian Basin crude opportunities; future operational improvements at our Gallup
refinery; acquisition of additional refining or other assets; our ability to recognize strategic
alternatives for logistics assets; our ability to achieve operating expense / SG&A initiatives;
inventory target levels; future reduction in working capital; our ability to utilize free cash
flow to delever; our ability to achieve a BB credit rating; and continued reliable, safe, optimized
and predictable refining operations. These statements are subject to the general risks inherent in
our business. Our expectations may or may not be realized. Some of our expectations may be based
upon assumptions or judgments that prove to be incorrect. In addition, Westerns business and
operations involve numerous risks and uncertainties, many
of which are beyond Westerns control, which could materially affect Westerns financial condition,
results of operations and cash flows. Additional information relating to the uncertainties
affecting Westerns business is contained in its filings with the Securities and Exchange
Commission to which you are referred. The forward-looking statements are only as of the date made,
and Western does not undertake any obligation to (and expressly disclaims any obligation to) update
any forward looking statements to reflect events or circumstances after the date such statements
were made, or to reflect the occurrence of unanticipated events.