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Adams Resources and Energy Closes Acquisition of Firebird Bulk Carriers, Phoenix Oil
Monday 15 August 2022

A subsidiary of US-based liquid chemicals and dry bulk transport and storage company Adams Resources and Energy, Inc. (NYSE AMERICAN: AE), GulfMark Asset Holdings, Inc., has completed the purchase of Firebird Bulk Carriers, Inc. and Phoenix Oil, Inc. for an aggregate purchase price of approximately USD 33m, the company said.

This consists of approximately USD 32m in cash and USD 0.5m of Adams Resources and Energy, Inc. common stock.

Firebird Bulk Carriers is an interstate bulk motor carrier of crude oil, condensate, fuels, oils and other petroleum products.

Headquartered in Humble, Texas, Firebird operates over 100 tractors largely in the Eagle Ford basin. Texas locations include: Humble, George West, Dilley, Carrizo Springs, Bryan and Brownsville.

Also headquartered in Humble, Texas, Phoenix Oil recycles and repurposes off-spec fuels, lubricants, crude oil and other chemicals from producers in the United States.

Adams Resources and Energy is engaged in crude oil marketing, transportation, terminalling and storage and tank truck transportation of liquid chemicals and dry bulk through its subsidiaries, GulfMark Energy, Inc., Service Transport company, Victoria Express Pipeline, L.L.C. and GulfMark Terminals, LLC.
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Date Published: 15/08/2022

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