Adams Resources & Energy, Inc. ("Adams" or "AE") is primarily engaged in the business of crude oil marketing, transportation and storage and tank truck transportation of liquid chemicals and dry bulk through its two wholly owned subsidiaries, GulfMark Energy, Inc. (‟GulfMark”) and Service Transport Company.
GulfMark provides a competitive advantage by owning and / or leasing over 260 tractors trailers and four oil storage facilities. Service Transport Company operates approximately 250 tractors, 550 tank trailers and 14 dry bulk trailers.
AE has a strong balance sheet with $130MM in cash and no debt as of March 31, 2019. The Company is focused on strategic business development and organic growth initiatives.
GulfMark also has the ability to barge oil from four oil storage facilities along the intercostal waterway of Texas and Louisiana and maintains 425,000 barrels of storage capacity at certain dock facilities in order to access waterborne markets for its products.
GulfMark provides a competitive advantage by owning and/or leasing over 260 tractor-trailers and four oil storage facilities. Service Transport Company operates approximately 250 tractors, 550 tank trailers and 14 dry bulk trailers.
GulfMark purchases approximately 113,000 barrels per day at the wellhead. In connection with its purchases of crude oil, GulfMark operates over 260 tractor-trailers and maintains approximately 164 pipeline inventory locations and injection points.
For questions regarding investor relations or other related matters please contact Tracy E. Ohmart, Chief Financial Officer at tohmart@adamsresources.com or call 713-881-3609.
AE is focused on marketing, transporting and storing crude oil throughout multiple crude oil and natural gas basins in the United States including the Gulf Coast, Eagle Ford Shale, Permian Basin, Bakken Shale, and in Michigan. AE transports various liquid and dry chemicals across the lower 48 states and into Canada and Mexico through its Service Transport Company subsidiary. Service Transport also transports dry bulk materials.
