• Boyett Petroleum Expands Footprint to Oklahoma After Closing DFS Purchase

  • Boyett Petroleum Expands Footprint to Oklahoma After Closing DFS Purchase

    Modesto, California-based Boyett Petroleum has made its entrance into the
    Oklahoma market after it closed on the purchase of Norman-based Danielson Fuel
    Services.

    Danielson Fuel Services (DFS), founded in 1975 by Jerry Danielson and currently
    led by second-generation and current owner Mike Lawson, sold its retail and
    wholesale fuel business to Boyett Petroleum. DFS distributes refined products
    in four states -- Oklahoma, Texas, Kansas and Missouri - and sells Phillips 66
    and Valero branded fuel along with unbranded fuel.

    Boyett Petroleum adds the new states to where it distributes fuel and is adding
    to its already strong presence in California, Nevada, Colorado and Texas.

    "We are vey excited about acquiring Danielson Fuel Services as it further
    expands our existing operations and provides a growth platform for new,
    opportunistic geographies of our wholesale business," said Dale Boyett,
    president of Boyett Petroleum.

    Terms of the deal were not disclosed and Downstream Energy Partners (DEP)
    provided the merger and acquisition services to Danielson Fuel Services. DEP is
    an investment bank and specializes in M&A services to middle market companies
    in the downstream petroleum sector.

    --Reporting by Denton Cinquegrana, dcinqugrana@opisnet.com; Editing by Michael
    Kelly, michael.kelly3@ihsmarkit.com





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