Mergers & Acquisitions

TC Fuels Acquires 8 Stations in Texas

President of Texoma Petroleum seeking smaller role to spend more time with family
Photograph: Shutterstock

DALLAS and WICHITA FALLS, Texas — TC Fuels LP has acquired eight gas stations with convenience stores in Wichita Falls, Jacksboro and Windthorst, Texas, from Texoma Petroleum Inc.

All locations are leased to commission dealers. Wichita Falls-based Texoma Petroleum did not directly operate any of the retail sites.

All locations are branded ConocoPhillips or unbranded fuel. Texoma Petroleum also supplies ConocoPhillips and unbranded fuels to approximately 20 dealer supply accounts.

Established in 1977 as Chambles Oil, the company became Texoma Petroleum in 2001. Since that time, the company operations have been under the control of Norma Stevens, president. Stevens and the family trust that owns Texoma Petroleum decided to pursue a sale because Stevens wanted a smaller role that would allow her to spend more time with her family.

She will stay with TC Fuels through the transition and remain with the company focusing on dealer relationships.

“TC Fuels will be an excellent partner for all of our existing customers moving forward and has the ability to help them grow and have continued success well into the future,” said Stevens.

Dallas-based TC Fuels is a wholesale fuel supplier of Chevron, Texaco, Conoco, Valero, Exxon, Mobil and Sinclair brands in Texas, Colorado, Iowa, Oklahoma, Louisiana and Arkansas.

The company plans to keep developing and growing in these markets through acquisitions and branding of independent operator locations, it said. It also plans improvements at the locations owned and leased to dealers to ensure the continued, long-term success of each site. The dealers can explore various branding opportunities at sites that are currently unbranded.

The seller’s representative, Dallas-based Southwest Petroleum Realty, was established in 1999 with a focus on the retail convenience-store and fuel distribution industry across the United States. Grant and Jim McWhirter, along with their team, have brokered the sale and lease of thousands of convenience stores and multiple fuel distributorships for the past more than 20 years, the company said.

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