Northern Tier Energy Updates Operating Status of St. Paul Park Refinery &
Third Quarter Throughput Guidance
RIDGEFIELD, Conn., Sept. 23, 2013
RIDGEFIELD, Conn., Sept. 23, 2013 /PRNewswire/ --Northern Tier Energy LP
(NYSE: NTI) ("Northern Tier Energy" or the "Company"), a Delaware limited
partnership announced on Sunday, September 22^nd that the Company's St. Paul
Park, MN refinery experienced a fire in its larger crude distillation unit.
The fire appears to have originated at an atmospheric tower discharge pump.
The fire occurred at approximately 11:30 am central time and was brought
under control by the refinery's Emergency Response Team working with the fire
departments from the cities of St. Paul Park and Newport and was completely
extinguished by 2:16 pm central time.
The cause of the fire and extent of the damage is currently being assessed,
but preliminary estimates indicate that the outage of this crude unit will
last approximately three to four weeks and repair costs should be less than
$10 million. The smaller crude distillation unit and the downstream units at
the refinery are in the process of being safely restarted. Current estimates
indicate that this smaller crude unit and all downstream units, with the
exception of the fluid catalytic cracking ("FCC") unit, will begin operating
within the next day. The Company's planned turnaround on its FCC unit was
scheduled to begin October 1^st. However, the Company now intends to
initiate this turnaround activity immediately due to the reduction in crude
throughput. Increased total throughput levels of approximately 40,000 Barrels
Per Day (BPD)are estimated to be reintroduced at the refinery by early
October and rates of up to approximately 85,000 BPD are expected to be
achieved by mid October. Until that time, Northern Tier Energy will continue
to supply its SuperAmerica retail outlets and other term commitments.
Given the occurrence of these events, the Company is updating operating
guidance on throughput for the third quarter of 2013. Original third quarter
throughput guidance was expected to be between 90,000 and 95,000 BPD. Updated
throughput for third quarter is now expected to range between 78,000 and
81,000 BPD. Throughput guidance for the entire fourth quarter will be
provided during the Company's third quarter earnings call which will be held
during the week of November 11th.
About Northern Tier Energy
Northern Tier Energy LP (NYSE:NTI) is an independent downstream energy company
with refining, retail and pipeline operations that serves the PADD II region
of the United States. Northern Tier Energy operates a 92,500 barrels per
stream day refinery located in St. Paul Park, Minnesota. Northern Tier Energy
also operates 163 convenience stores and supports 73 franchised convenience
stores, primarily in Minnesota and Wisconsin, under the SuperAmerica
trademark, and owns a bakery and commissary under the SuperMom's brand.
Northern Tier Energy is headquartered in Ridgefield, Connecticut.
This press release contains certain "forward-looking statements" which reflect
Northern Tier Energy's views and assumptions on the date of this press release
regarding future events. They involve known and unknown risks, uncertainties
and other factors, many of which may be beyond its control, that may cause
actual results to differ materially from any future results, performance or
achievements expressed or implied by the forward-looking statements. All
forward-looking statements speak only as of the date hereof. Northern Tier
Energy undertakes no obligation to update or revise publicly any such
forward-looking statements. Northern Tier Energy cautions you not to place
undue reliance on these forward-looking statements. Please refer to Northern
Tier Energy's filings with the SEC for more detailed information regarding
these risks, uncertainties and assumptions.
SOURCE Northern Tier Energy LP
Contact: Alpha IR Group, Phone: (203) 244-6544, Email: NTI@alpha-IR.com
Press spacebar to pause and continue. Press esc to stop.