Delek US Q1 Volumes Decline, Signals Recovery With Higher Q2 Throughput
Downstream energy firm Delek US (DK) reported Q1 earnings on Wednesday, showing total average throughput of 260,030 barrels per day, down from 289,203 b/d a year earlier.Crude throughput averaged 238,338 b/d for the quarter ended March 31, down from 272,183 b/d a year earlier.Other feedstocks throughput averaged 21,692 b/d for the quarter, compared with 17,020 b/d a year earlier, the company said.The company reported that total sales volumes for the quarter averaged 274,376 b/d, down from 294,892 b/d a year earlier.Delek expects total crude throughput to range between 283,000 b/d and 303,000 b/d in Q2, with total throughput across its refining system to range between 293,000 b/d and 313,000 b/d.The company completed the Big Spring refinery turnaround during the quarter, enhancing reliability, improving product yields, and increasing flexibility for higher-octane output, supporting future margin capture.Delek Logistics advanced key midstream projects, including the successful drilling of its first acid gas injection well at the Libby facility in the Delaware Basin, strengthening sour gas processing and handling capabilities.The company continues to ramp up the Libby 2 plant in the Delaware Basin, expanding gas processing capacity and supporting long-term growth in gathering and processing operations.Price: $46.08, Change: $+5.04, Percent Change: +12.27%