Delek US

What Delek US does

Delek US Holdings, Inc. (NYSE: DK) is a diversified downstream energy company headquartered in Brentwood, Tennessee, operating four inland refineries — Tyler, TX (acquired 2004); El Dorado, AR (acquired 2011); and Big Spring, TX and Krotz Springs, LA (acquired 2017) — with combined nameplate crude throughput capacity of 302,000 barrels per day. The company produces gasoline, diesel, jet fuel, asphalt, LPG, and petroleum coke, supplemented by three biodiesel plants producing approximately 40 million gallons annually (Cleburne TX, Crossett AR, New Albany MS), seven asphalt locations across four states, and a branded wholesale network serving more than 700 DK and Alon locations. Vertically integrated midstream infrastructure is housed in Delek Logistics Partners, LP (NYSE: DKL), a 63.3%-owned master limited partnership providing crude gathering, pipeline transportation, storage, and terminalling under long-term fee-based contracts, with key assets in the Permian Basin, Delaware Basin, and Gulf Coast.

The business model is transaction-fee-based across refining, logistics, asphalt, renewable fuels, and branded wholesale. Delek sells primarily to enterprise and mid-market B2B customers: airlines and aviation operators, government and military entities, railroads, trucking companies, and independent petroleum marketers and distributors. GTM is direct sales supported by investor relations and industry events, with distribution executed through pipelines, terminals, rail, trucking, and marine transport (including the Intercoastal Waterway between Corpus Christi and New Orleans). Pricing is determined by market conditions, crack spreads, and contractual arrangements rather than published tariffs.

Strategic posture has shifted toward refining and midstream focus following the October 2024 sale of 249 retail convenience stores to FEMSA OXXO for $385 million. The Enterprise Optimization Program targets approximately $220 million in annual run-rate cash flow improvements. Energy transition is pursued through DK Innovation, a corporate venture arm investing in CCUS, low-carbon fuels, hydrogen, lithium, and fusion, alongside an Energy Transition Initiatives portfolio leveraging existing assets. The company is led by President and CEO Avigal Soreq (joined June 2022; prior CEO of El Al Airlines) with CFO Mark Hobbs, CCO Ismail Bhayat, and newly appointed EVP Refining Amber Russell (April 2026). Delek was founded in 2001, ranks #336 on the Fortune 500 (2025), and is incorporated in Delaware.

Name

Delek US

Legal name

Delek US Holdings, Inc.

Website

https://delekus.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Delek US Holdings (NYSE: DK) operates four U.S. refineries with 302,000 bpd capacity and a 63.3%-owned midstream MLP. It sells refined products, biodiesel, asphalt, and branded fuel to airlines, government, transportation, and independent petroleum marketers across the Southwest and South-Central U.S.

Ownership category

akta.pro rank

Product category

Petroleum Refining and Downstream Energy

NAICS

Petroleum Refineries (32411), Petroleum and Coal Products Manufacturing (324), Petroleum Bulk Stations and Terminals (424710), Pipeline Transportation of Refined Petroleum Products (486910), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720)

SIC

Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171), Pipe Lines (No Natural Gas) (4610)

akta.pro primary industry

Crude Oil & Petroleum Products Tanker Transport (TLADALAA)

akta.pro secondary industry

Liquid Bulk Storage & Tank Farm Operators (Independent Storage) (TLAHABAM)

Keywords

• Petroleum refining services
• Crude oil processing
• Midstream logistics infrastructure
• Asphalt products manufacturing
• Renewable diesel fuels

Headquarters

HQ city

Brentwood

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Petroleum Refining: Operates four inland refineries processing crude oil into refined petroleum products including gasoline, diesel, jet fuel, asphalt, and LPG. Refining segment generated $155.3M adjusted EBITDA in Q1 2026.
2. Logistics and Midstream Services: Delek Logistics Partners LP (63.3% owned) provides crude oil gathering, pipeline transportation, storage and terminalling services under long-term fee-based contracts. Generated $132.4M adjusted EBITDA in Q1 2026.
3. Asphalt Products: Leading provider of premium asphalt technologies operating seven locations across Texas, Arkansas, Oklahoma, and Tennessee. Products include commodity, polymer, and specialty asphalt grades for industrial and road construction applications.
4. Renewable Fuels (Biodiesel): Three biodiesel plants in Cleburne, Texas, Crossett, Arkansas, and New Albany, Mississippi producing approximately 40 million gallons annually from diverse feedstocks including poultry fat, beef tallow, and vegetable oils.
5. Branded Wholesale Fuel Distribution: Provides fuel supply partnership under Alon and DK gas brands to over 700 branded locations, offering branding, marketing, and operational support to distributors and dealers.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Delek US Holdings is a diversified downstream energy company that operates four inland refineries with combined crude throughput capacity of 302,000 barrels per day, producing gasoline, diesel, jet fuel, asphalt, LPG, and biodiesel. The company also controls approximately 63.3% of Delek Logistics Partners LP, a publicly traded master limited partnership that provides crude oil gathering, pipeline transportation, storage, and terminalling services primarily in the Permian Basin, Delaware Basin, and Gulf Coast regions.

Product overview

Delek US Holdings is a diversified downstream energy company organized as a platform-plus-business-units architecture consisting of petroleum refining operations (302,000 barrels per day capacity across four refineries), midstream logistics services through Delek Logistics Partners LP (NYSE: DKL), asphalt products, renewable fuels (biodiesel), and branded wholesale fuel distribution. The company also maintains an energy transition initiative focused on low-carbon technologies and a corporate venture arm (DK Innovation) investing in energy technology startups. Key brands include DK and Alon for retail/wholesale fuel, while the MLP structure separates the logistics business from the parent refining operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Delek US Refining Operations Petroleum refining operations with combined crude throughput capacity of 302,000 barrels per day across four refineries in Tyler and Big Spring, Texas; El Dorado, Arkansas; and Krotz Springs, Louisiana, producing gasoline, distillates, jet fuel, petroleum coke, LPG, and specialty products.
• Delek Logistics Partners, LP (DKL) Growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets including crude oil and refined products logistics, gathering, pipeline, and transportation services primarily in the Permian Basin, Delaware Basin, and Gulf Coast regions.
• Asphalt Products Premium asphalt technologies and materials operating seven locations across Texas, Arkansas, Oklahoma, and Tennessee, offering commodity, polymer, tire rubber modified, roofing flux, and specialty asphalt products for industrial, road construction, and roofing applications.
• Delek Renewables (Biodiesel) Biodiesel production facilities in Cleburne, Texas, Crossett, Arkansas, and New Albany, Mississippi, collectively producing approximately 40 million gallons annually from diverse waste stream feedstocks including poultry fat, beef tallow, and vegetable oils.
• DK and Alon Branded Wholesale Fuel Distribution Branded wholesale fuel distribution under DK and Alon gas brands serving over 700 branded locations in the Southwestern United States, providing fuel supply, branding, marketing, and operational support to distributors and dealers.

Quantifiable outcome

• Q1 2026 adjusted EBITDA of $211.7 million, up from $33.6 million year-over-year
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered major and core.

• FEMSA (Fomento Económico Mexicano S.A.B. de C.V.)majorChannel Partner/ Reseller/ Distributor · 1 October 2024Delek sold its 249 retail convenience stores operating under the DK brand to FEMSA for $385 million in October 2024. FEMSA is converting acquired stores to the OXXO brand. Delek continues to supply fuel to rebranded stores while maintaining its own gas station operations under DK and Alon brands.
• EIV Capital, LLCcoreStrategic or Co-development Partner · 1 September 2024Delek Logistics Partners acquired H2O Midstream from EIV Capital for $230 million in September 2024, expanding its water disposal and midstream capabilities.
• 3Bear Energy, LLCcoreStrategic or Co-development Partner · 1 April 2022Delek Logistics Partners acquired 3Bear Delaware Holding-NM, LLC for $624.7 million, acquiring crude oil and gas gathering, processing, and transportation businesses plus water disposal operations in the Delaware Basin in New Mexico.
• Wink to Webster Pipeline LLC (Joint Venture)coreStrategic or Co-development Partner · 1 August 2019Joint venture with ExxonMobil, Plains All American Pipeline, Lotus Midstream, MPLX LP, and Rattler Midstream LP to develop the Wink to Webster crude oil pipeline. Delek acquired 15% ownership interest.
• Delek Logistics Partners LP (NYSE: DKL)coreStrategic or Co-development PartnerDelek US owns approximately 63.3% (including general partner interest) of Delek Logistics Partners, a growth-oriented master limited partnership focused on midstream energy infrastructure assets.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Valero Energy: Largest independent U.S. refining company operating ~3.2M bpd of throughput across inland and coastal refineries with similar crude flexibility, wholesale fuel distribution, and renewable diesel exposure. Closest direct comparable to Delek by business model and scale.
• Marathon Petroleum: Largest U.S. refiner (~2.9M bpd capacity) operating a fully integrated downstream platform across refining, midstream (MPLX), and marketing. Directly comparable to Delek across refining scale, midstream integration, and crude logistics footprint.
• PBF Energy: Independent U.S. refiner with ~1M bpd capacity across East Coast, Gulf Coast, and West Coast facilities. Closely comparable mid-cap refining business with similar exposure to crack spread volatility and transportation fuel demand.
• HF Sinclair (HollyFrontier): Mid-cap U.S. independent refiner with ~0.6M bpd of capacity, renewable diesel operations, and branded lubricants distribution. Comparable to Delek on size, downstream product mix, and exposure to inland refining margins.
• CVR Energy: Smaller-cap U.S. refiner with two refineries totaling ~0.2M bpd, focused on inland/sour crude processing. Comparable business model with Delek's smaller mid-continent refineries and similar cyclical exposure.
• Par Pacific Holdings: Holding company operating refineries in Hawaii, Wyoming, and Washington with logistics and retail marketing segments. Comparable independent refining model with diversified downstream assets, though at smaller scale than Delek.
• MPLX LP: Master limited partnership operated by Marathon Petroleum focused on midstream energy infrastructure including pipelines, terminals, and processing. Direct comparable to Delek Logistics Partners given similar MLP structure and Permian/Delaware midstream assets.

Broad incumbents

• Phillips 66: Major integrated downstream energy company with ~1.8M bpd refining, midstream, chemicals, and marketing. Larger-scale competitor with overlapping refining and midstream infrastructure operations.
• Plains All American Pipeline: Major North American midstream operator with extensive crude oil pipelines, gathering systems, and storage. Joint venture partner with Delek in Wink to Webster pipeline and directly comparable in Permian/Delaware midstream logistics.

Emerging players

• Calumet Specialty Products Partners: Specialty hydrocarbons producer with refining assets focused on lubricating oils, waxes, and renewable feedstocks. Compares to Delek's specialty asphalt and renewable fuels segments, though at a different scale and product focus.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/delekusholdings
• YouTubeyoutube.com/channel/UCk2o11OYPIzHK6rehd6anlg
• Facebookfacebook.com/DelekUSofficial
• LinkedInlinkedin.com/company/delek-us-holdings
• Instagraminstagram.com/delek_us

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Delek US