"We are pleased to have completed these amendments, which provide our company with additional financial flexibility. The continued support of our lenders demonstrates their confidence both in Western and in our ability to manage through the current refining environment. We appreciate their support [image-nocss] and will continue to take the appropriate steps to further enhance our capital structure," said Paul Foster, Western Refining's chief executive officer.
(Click here for previous CSP Daily News and CSPTV coverage of the current economic climate for the refining industry.)
The amendments and details of the new credit facility will be more fully described in a current report on Form 8-K that the company will file with the Securities &d Exchange Commission (SEC).
Western Refining is an independent refining and marketing company headquartered in El Paso, Texas. Western has a refinery in El Paso, two refineries in the Four Corners region of northern New Mexico and a refinery in Yorktown, Va. Western Refining's asset portfolio also includes refined products terminals in Albuquerque, N.M., and Flagstaff, Ariz., asphalt terminals in Phoenix and Tucson, Ariz., 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 and Utah.
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