Adams Resources & Energy Inc.
Market Reports, Corporate Data, Mergers and Acquisitions
The operations of Adams Resources & Energy, Inc. were originally founded by K. S. "Bud" Adams Jr. in 1947 as a private concern. The Company completed its initial public offering in 1974. The Company and its subsidiaries presently have over 700 employees.
The Company's GulfMark Energy, Inc. subsidiary purchases crude oil and arranges sales and deliveries to refiners and other customers. Crude oil is acquired from independent producers primarily in Texas, Louisiana, and Michigan. GulfMark purchases approximately 65,000 barrels per day at the wellhead. In connection with its purchases of crude oil, the Company operates 75 tractor-trailer units and maintains over 50 pipeline inventory locations or injection points. GulfMark also has the ability to barge oil from nine oil storage facilities along the intercoastal waterway of Texas and Louisiana and maintains 200,000 barrels of storage capacity at certain dock facilities in order to access waterborne markets for its products.