Adams Resources & Energy

What Adams Resources & Energy does

Adams Resources & Energy, Inc. is a Houston-based crude oil marketing, transportation, terminalling, and storage company that operates an integrated midstream platform across major US producing basins — the Gulf Coast, Eagle Ford Shale, Permian Basin, Bakken Shale, and Michigan. Founded in 1947 by K.S. 'Bud' Adams and historically listed on NYSE American (AE), the company completed a take-private transaction with a Tres Energy affiliate in April 2026. Through five wholly-owned subsidiaries — GulfMark Energy (marketing and truck transportation of crude oil), Victoria Express Pipeline (pipeline operations), GulfMark Terminals (storage and dock facilities), Phoenix Oil (recycling and repurposing of off-spec fuels, lubricants, and chemicals), and Firebird Bulk Carriers (bulk transport) — Adams purchases approximately 90,000 barrels of crude per day at the wellhead, deploys a fleet of 260+ owned/leased tractor-trailers, accesses 112 pipeline inventory and injection points, and maintains 425,000 barrels of dock storage along the Texas-Louisiana intercostal waterway. Technology deployments include a transportation management system (TMS), fleet telematics measuring per-driver and per-unit MPG, low-profile tires with auto-inflation, and custom aerodynamic packages to reduce fuel cost per mile.

The company generates revenue primarily through transaction-fee crude marketing (purchase-and-resale of barrels from producers to refiners), transaction-fee transportation, and usage-based terminalling and storage contracts — a quote-based, multi-year B2B model with petroleum producers and the refining community. Reported scale is $1B+ in annual revenue and over 400 employees; restated financials (correcting a probable formatting artifact) imply revenues ranging from ~$1.0B at the 2020 trough to ~$3.4B at the 2022 oil-price peak, with EBITDA of $13M-$36M across 2019-2023, confirming a low-margin, commodity-price-correlated business model. Customer concentration is structurally concentrated: the addressable market is producers and refiners, which are themselves oligopolistic, and no individual customers are named in disclosures. The strategy emphasized on the company website is 'strategic business development and organic growth initiatives' anchored on a strong balance sheet, supported by industry-stewardship partnerships (EPA SmartWay, ACC Responsible Care, AOPL) and a recently installed leadership team.

Name

Adams Resources & Energy

Legal name

Adams Resources & Energy, Inc.

Website

https://adamsresources.com

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Adams Resources & Energy is a Houston-based crude oil marketing, transportation, terminalling, and storage company serving petroleum producers and refiners across the Gulf Coast, Eagle Ford, Permian, Bakken, and Michigan basins via an integrated fleet, pipeline, and storage platform across five operating subsidiaries.

Ownership category

akta.pro rank

Product category

Crude Oil Midstream Services

NAICS

Pipeline Transportation of Crude Oil (4861), Crude Petroleum Extraction (211120), Pipeline Transportation of Refined Petroleum Products (48691)

SIC

Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171), Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Crude Oil & Condensate Gathering (EUALACAB)

akta.pro secondary industries

Crude Oil Pump Stations & Mainline Facilities Operations (TLAGAAAH), Refined Products Pipeline Terminals & Breakout Storage Operations (TLAGABAJ), Refined Products Pipeline Transportation (Gasoline/Diesel/Jet) (EUALADAD)

Keywords

• Crude oil marketing
• Crude oil transportation
• Crude oil storage
• Bulk carrier services
• Off-spec fuel recycling

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Crude Oil Marketing: Adams markets crude oil from petroleum producing companies to the refining community, generating revenue through the sale and marketing of crude oil barrels purchased at the wellhead. The company purchases approximately 90,000 barrels per day at the wellhead.
2. Transportation Services: Crude oil transportation services through owned and leased fleet of 260+ tractor-trailers, including over 215 tractor-trailers operated by GulfMark, and barge operations along the intercostal waterway of Texas and Louisiana
3. Termalling and Storage: Crude oil terminalling and storage services with 425,000 barrels of storage capacity at dock facilities in Texas and Louisiana, plus approximately 112 pipeline inventory locations and injection points

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Adams Resources & Energy purchases crude oil at the wellhead from petroleum producing companies (approximately 90,000 barrels per day) and markets it to the refining community through an integrated network covering crude oil marketing, transportation by truck and barge, terminalling and storage at dock facilities, and pipeline injection operations across multiple U.S. basins. The company also recycles and repurposes off-spec fuels, lubricants, crude oil and other chemicals, and transports petroleum products in bulk.

Product overview

Adams Resources & Energy, Inc. is a crude oil marketing and transportation company operating through five subsidiaries. GulfMark Energy handles crude oil marketing, transportation and storage (purchasing approximately 90,000 barrels per day with a fleet of over 260 tractor-trailers), while Victoria Express Pipeline provides pipeline transportation. GulfMark Terminals offers terminalling with 425,000 barrels of storage capacity. Phoenix Oil handles recycling and repurposing of off-spec fuels, lubricants, crude oil and chemicals. Firebird Bulk Carriers provides bulk transportation services. The company operates across multiple basins including the Gulf Coast, Eagle Ford Shale, Permian Basin, Bakken Shale, and Michigan.

Differentiator

Problem solved

Functional benefit

Products and services

• GulfMark Crude Oil Marketing, Transportation & Storage Integrated crude oil marketing and logistics service that purchases approximately 90,000 barrels of crude per day at the wellhead from petroleum producers and resells/moves it to the refining community using a fleet of 260+ owned/leased tractor-trailers, four oil storage facilities, and 112 pipeline inventory and injection points across the U.S. Gulf Coast, Eagle Ford Shale, Permian Basin, Bakken Shale and Michigan.
• Victoria Express Pipeline Crude Oil Transportation Pipeline subsidiary of Adams Resources & Energy engaged in crude oil pipeline transportation and injection operations supporting the GulfMark marketing and delivery network.
• GulfMark Terminals Crude Oil Storage Crude oil terminalling and storage service operating four dock facilities along the intercostal waterway of Texas and Louisiana with 425,000 barrels of storage capacity, enabling barge-based access to waterborne markets for refiners and producers.
• Phoenix Oil Recycling & Reconditioning Service offering for the recycling and repurposing of off-spec fuels, lubricants, crude oil and other chemicals, converting non-conforming hydrocarbons into usable products for downstream buyers.
• Firebird Bulk Carrier Transportation Bulk carrier transportation service for crude oil and petroleum products, complementing the Adams group's trucking, pipeline and storage assets across the U.S. Gulf Coast and adjacent basins.

Quantifiable outcome

• 425,000 barrels of storage capacity at dock facilities
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• U.S. Environmental Protection Agency (EPA) SmartWay ProgramcoreStrategic or Co-development PartnerAdams' operating divisions are verified Partners with the EPA SmartWay program, working to measure, benchmark and improve transportation operations to reduce environmental footprint. SmartWay is a national voluntary program developed by the EPA and freight industry to reduce greenhouse gases and air pollution.
• American Chemistry Council Responsible Care ProgramcoreStrategic or Co-development PartnerAdams' chemical transportation division is a Partner with the American Chemistry Council's Responsible Care program, pledging to improve environmental, health, safety and security (EHS&S) performance for facilities, processes and products throughout the operating system.
• Association of Oil Pipe Lines (AOPL)coreStrategic or Co-development PartnerAdams' pipeline and storage division is an active member of AOPL, working in partnership to deliver responsible policies, safety excellence and promote innovations that minimize pipeline greenhouse gas emissions.
• Truckers Against Trafficking (TAT)minorStrategic or Co-development PartnerAdams supports the communities in which it operates by working with Truckers Against Trafficking to train all over-the-road drivers on how to spot and report signs of human trafficking. Drivers receive training and become registered as TAT trained and certified.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Enterprise Products Partners: Major diversified midstream operator with crude oil pipelines, terminals and NGL infrastructure across US basins. Direct overlap with Adams' crude gathering/terminaling, but at much larger scale and broader product scope (former employer of GulfMark's president).
• Delek US Holdings: Refining and midstream operator with crude oil gathering, pipelines and terminals supporting its refineries. Overlaps with Adams' terminalling and crude transportation services.
• Energy Transfer: Large midstream operator with crude oil, NGL, natural gas and refined product pipelines and terminals. Competes with Adams in Gulf Coast/Permian crude logistics and was a former employer of Adams' GulfMark president.
• HF Sinclair (HollyFrontier): Integrated refining and midstream company with crude oil gathering, pipeline, terminalling and trucking operations. Direct overlap with Adams' integrated crude logistics offering to refiners.
• Phillips 66 Partners: MLP focused on crude oil, refined products and NGL pipelines, terminals and storage. Comparable terminalling and storage asset profile to Adams' GulfMark Terminals subsidiary.
• ONEOK: Large midstream operator with natural gas, NGL and crude oil gathering/pipeline assets. Competes with Adams in crude gathering and storage, particularly in the Bakken and Permian.
• Targa Resources: Midstream operator with gathering and processing, NGL, and crude oil logistics assets across key US basins. Overlaps with Adams in crude oil transportation, gathering and terminalling.

Direct peers

• Genesis Energy: Midstream operator with significant crude oil pipeline, gathering and terminalling operations in the Gulf Coast. Comparable in scale and customer base to Adams' GulfMark business.
• Plains All American Pipeline: One of the largest US crude oil gathering and transportation operators, with extensive pipeline, truck and storage assets across major basins. Most direct comparable to Adams' GulfMark crude oil marketing, transportation and storage business.
• NGL Energy Partners: Midstream partnership with crude oil logistics, water solutions and refined products/renewables businesses. Closely comparable to Adams' multi-subsidiary crude marketing, transportation and recycling model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/service-transport-company-146410282204824
• LinkedInlinkedin.com/company/adams-resources

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Adams Resources & Energy