Offen Petroleum to Buy Overland Petroleum
Walmart to Add Over 1,000 EV Chargers
Public Hydrogen Station Opens in Hawaii
Land O'Lakes and CalBio to Create R-CNG at Dairies

OFFEN PETROLEUM TO BUY OVERLAND PETROLEUM

DENVER, CO. — Offen Petroleum, based here, has signed a deal to acquire the assets of Overland Petroleum of St. George, Utah. The price for the purchase was not disclosed.

The acquisition will nearly double the size of Offen.

Overland Petroleum is a jobber focused on independent service stations and convenience stores, marketing branded fuel under the Sinclair, Conoco, Phillips 66, and Andeavor brands as well as unbranded gasoline and diesel. The company was owned and operated by the Snow and Ipson families with customers in Utah, Arizona, Nevada, Idaho, Montana, Colorado, Wyoming, and New Mexico in the West as well as seven Midwest states. Overland also operates its own tanker fleet.

"I am pleased that Darin Snow and Danny Ipson will be joining our expanded leadership team," said Offen CEO Bill Gallagher. "As leaders in our core markets, the combination creates a stronger company, better able to optimize the utilization of our fleet assets and expand upon our supplier relationships as we continue to efficiently serve our valued customers."

He added, "With a team of 100-plus experienced drivers combined with our longstanding supply relationships and best-in-class team, we will continue to safely deliver superior levels of customer service and a full slate of motor fuel product offerings."

Offen Petroleum, acquired as a "portfolio company" of Lariat Partners and operating under the leadership of CEO Bill Gallagher, markets motor fuels, DEF, additives, and lubricants in 13 states from its headquarters in Colorado. The company also operates two convenience stores in Northern Colorado and one in the Denver Metro area as well as a trucking fleet to distribute fuels throughout the Rockies, West, and Midwest.

Jay Coughlon, managing partner at Lariat Partners, added, "We continue to pursue acquisition opportunities that will strengthen our existing operations as well as penetrate new geographic markets."

The Overland acquisition is expected to close in the third quarter.

WALMART TO ADD OVER 1,000 EV CHARGERS

BENTONVILLE, AR. — Walmart has announced that they will install EV chargers at more than 100 Walmart locations across 34 states by June 2019.

The retail giant has already placed electric vehicle chargers at several of their locations. With this new announcement, the company will offer "well over 1,000" EV chargers to drivers across the United States.

"Along with providing our customers with an enhanced shopping experience through added convenience, this initiative also allows us to contribute to the expansion of our nation's EV charging station infrastructure," said Mark Vanderhelm, vice president of Energy for Walmart, announcing the program.

The charging systems are being built by Electrify America and will feature cooled-cable 150 to 350kW DC Fast Chargers. Several of the new systems will offer super-fast chargers that would be able to charge an electric car in 10 to 30 minutes.

PUBLIC HYDROGEN STATION OPENS IN HAWAII

MAPUNAPUNA, OAHU, HI. — The first publicly accessible hydrogen station in Hawaii has opened at the Servco Pacific dealership here.

The station is located at Servco Pacific's Toyota dealership, where the company is also leasing the hydrogen-fueled Toyota Mirai.

The hydrogen station can produce 20 kg of hydrogen daily and can store approximately 100 kg of hydrogen on-site, enough for up to 12 vehicle fill-ups. The time to fill a fuel cell vehicle (FCV) at the site is estimated at five minutes.

"Our hydrogen station will help show Hawaii residents how FCVs can make a real impact on our sustainability goals," said Mark Fukunaga, CEO of Servco, introducing the station. "We are committed to the future of mobility in Hawaii, and we believe in the potential for FCVs in our state."

LAND O'LAKES AND CALBIO TO CREATE R-CNG AT DAIRIES

ARDEN HILLS, MN. — California Bioenergy (CalBio) has signed a deal with Land O'Lakes, Inc. to collect dairy methane gas and convert it to renewable compressed natural gas.

Calling the program "barn to biogas," California Land O'Lakes dairy member-owners will install on-farm methane digesters to generate fuel from livestock manure emissions.

Land O'Lakes said they will make up to $3 million in financing available to its member-owners for large-scale sustainability projects, including methane digesters.

CalBio will develop, install, and the manage on-farm methane digesters, as well as market the R-CNG credits in California.

"Land O'Lakes and CalBio are creating the end-to-end sustainability infrastructure that farmers need to make 'barn-to-biogas' a reality," stated Matt Carstens, senior vice president, Land O'Lakes. "This is impact investing at its best — eliminating barriers to the adoption of new sustainability technology, unlocking new revenue streams for farmers, cutting emissions, and creating a public good."

California has recently enacted new state standards that call for a 40 percent reduction in dairy and livestock manure-related methane emissions from 2013 levels by 2030.

Originally published in the October 2018 issue of O&A Marketing News.
Copyright 2018 by KAL Publications Inc.