Musket Corp.

What Musket Corp. does

Musket Corporation is a privately held commodity supply, trading, and logistics enterprise founded in 2001 and headquartered at 2929 Allen Parkway in Houston, Texas, operating as the integrated fuel-trading arm of the Love's Family of Companies. It trades and markets crude oil, natural gas liquids (NGL), natural gas, refined petroleum products, renewable fuels, biodiesel, ethanol, and Diesel Exhaust Fluid (DEF), serving as the sole supplier to Love's Travel Stops' 670+ locations across 42 states and providing full-service B2B supply to jobbers, end-users, fleets, railroads, travel centers, and government agencies. Core capabilities include pioneering crude-by-rail operations in the Bakken Shale play since 2008, a 28+ terminal DEF network spanning 35+ U.S. states with ISO 22241 / ASTM D4806 certification and 24/7/365 operation, two unit-train ethanol facilities (Fort Worth with 112 railcars and 10,080,000 gallons storage; Phoenix with 60 railcars), and daily rack pricing posted at more than 160 U.S. terminals. Vertically integrated affiliates include Gemini Motor Transport (1,300-truck fleet), Flintlock Blending LLC (gasoline feedstock blending), Love's Alternative Energy (CNG, hydrogen, EV charging, solar), and Heartwell Renewables (a Cargill joint venture for renewable diesel).

The company operates a sales-led B2B go-to-market model combining direct enterprise field sales with terminal rack sales, B2B supply contracts, fixed forwards, and transloading services, generating transactional revenue on a per-deal basis. Pricing is quote-based and negotiated per transaction; no public pricing tiers are disclosed, with billing on a pay-as-you-go model. In February 2023, Musket expanded internationally by establishing its first European subsidiary and opening a Geneva, Switzerland regional headquarters, followed by partnerships with Hoyer (March 2023) and EG Group (September 2024) for European diesel and refined products procurement. The capital structure is private: Musket Corporation is a wholly-owned Love's Family affiliate, with no external venture or private equity funding rounds, no public ticker, and no disclosed standalone financials.

Name

Musket Corp.

Legal name

Musket Corporation

Website

https://musketcorp.com

Company type

Private

Founded year

2001

Operating status

Operating

Short description

Musket Corporation is a privately held commodity supply, trading, and logistics enterprise and a wholly-owned Love's Family of Companies affiliate that trades crude oil, refined products, ethanol, DEF, NGL, biodiesel, and renewables. It serves as the sole supplier to Love's Travel Stops' 670+ locations in 42 states and external B2B customers including jobbers, fleets, railroads, and government agencies in North America and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commodity Trading and Sales: Musket generates revenue through the trading and sale of crude oil, NGL, natural gas, petroleum products, renewable fuels, and DEF. As the sole supplier to Love's Travel Stops and provider to other B2B customers, the company handles billions of gallons of fuel annually through terminal operations, rack sales, B2B supply, fixed forwards, and transloading services.
2. Logistics and Terminal Services: Revenue from operating DEF terminals across 35+ locations, ethanol unit train facilities, and crude oil loading terminals. Services include blending, storage, and product distribution through owned and operated terminal infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Musket Corp. is a commodity supply, trading, and logistics enterprise that sources, blends, transports, and distributes petroleum products (crude oil, gasoline, diesel, natural gas liquids) and renewable fuels (ethanol, biodiesel, renewable diesel via Heartwell Renewables) across North America and Europe. It operates the integrated fuel supply chain for Love's Travel Stops & Country Stores while also serving third-party jobbers, fleets, refineries, railroads, and government agencies through an extensive rack and terminal network.

Product overview

Musket Corporation is a commodity supply, trading, and logistics company that operates as an integrated fuel trading and supply enterprise for the Love's Family of Companies. The company handles billions of gallons of fuel annually, serving as the sole supplier to Love's Travel Stops (670+ locations in 42 states). The product portfolio includes Crude Oil Trading & Logistics (pioneer of crude by rail since 2008), Diesel Exhaust Fluid (DEF) with 38+ terminal locations across the U.S., Ethanol Distribution (two unit train facilities), Refined Products (160+ terminal pricing), Biodiesel, and Natural Gas Liquids (NGL). The company expanded internationally in 2023 with European operations headquartered in Geneva, Switzerland, and has affiliate relationships with Heartwell Renewables (renewable diesel JV with Cargill), Flintlock Blending LLC, and Love's Alternative Energy. Key capabilities include fuel supply, logistics, and emerging energy markets.

Differentiator

Problem solved

Functional benefit

Brands

• Heartwell Renewables: Renewable diesel production joint venture with Cargill
• Flintlock Blending LLC

Products and services

• Crude Oil Trading & Logistics Sourcing, trading, and rail-based logistics for crude oil, with expertise in Bakken Shale light sweet crude moved by unit train and pipeline.
• Refined Products (Gasoline and Diesel)

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• EG GroupcoreStrategic or Co-development Partner · 18 September 2024Musket entered into a refined products European procurement agreement with EG Group in September 2024. The agreement is expected to complement EG Group's existing supply options and unlock value from its refined products and supply chains. This partnership supports Musket's European expansion strategy.
• HoyercoreStrategic or Co-development Partner · 21 March 2023Musket Corp. and Hoyer formed a European diesel procurement partnership in March 2023. The partnership leverages downstream fuels expertise of both family-owned businesses to serve European markets. Hoyer is a family-owned company specializing in energy logistics.
• CargillcoreStrategic or Co-development Partner · 20 April 2021Love's and Cargill formed a joint venture for renewable diesel production expanding through Heartwell Renewables. The first-of-its-kind entity produces and markets high-performance fuel while adding jobs in the local community. Musket is part of the Love's Family of Companies benefiting from this partnership.
• Love's Travel StopscoreOthersMusket is part of the Love's Family of Companies and serves as the integrated fuel trading and supply enterprise for Love's Travel Stops & Country Stores, which has more than 670 locations in 42 states. Love's was founded in 1964 and is headquartered in Oklahoma City.
• Love's Alternative EnergycoreOthersLove's Alternative Energy is a leading provider of alternative fueling solutions, specializing in fuel supply, design, installation and operation for innovative energy solutions. Offerings include CNG, hydrogen, EV charging infrastructure, solar installation, and on-site electricity generation. Combined with Love's, they own 106 public-access CNG facilities.
• Gemini Motor TransportmajorOthersGemini Motor Transport operates a fleet of 1,300 trucks transporting fuel and other products to Love's stores nationwide, crude oil to refineries, and ethanol to terminals throughout the U.S. Gemini is known as one of the industry's safest transportation companies.
• SpeedcominorOthersSpeedco provides comprehensive lube, tire, and light mechanical services for professional drivers. Together with Love's, they make up the largest oil change and preventative maintenance nationwide network with more than 400 locations. Speedco has been a leader in lube services for over 25 years.
• Heartwell RenewablesmajorOthersHeartwell Renewables is a renewable diesel production facility in Hastings, NE operated as a joint venture between Love's and Cargill. The facility is part of Musket's alternative energy solutions portfolio through Love's Alternative Energy.
• Flintlock Blending LLCmajorOthersFlintlock Blending LLC is a commonly owned and controlled affiliate company of Musket with capabilities to blend gasoline feedstocks. This affiliation enhances Musket's refined products service offerings.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Kinder Morgan: One of the largest North American midstream operators, with extensive refined products and crude pipelines/terminals. Comparable to Musket in terminal infrastructure and refined products logistics at much larger scale.
• Marathon Petroleum (MPC): Large US refining and marketing company that sells refined products wholesale and through terminals. Comparable in refined products supply, terminal logistics, and trading activities, though far larger and more vertically integrated.
• Phillips 66: Major integrated energy company with significant midstream, marketing, and refined products trading businesses. Comparable in commodity trading, terminal operations, and B2B fuel supply.
• Pilot Travel Centers: Largest US travel stop chain (now majority-owned by Berkshire Hathaway); operates extensive fuel distribution. Comparable to Love's in size and customer profile, which drives downstream demand for fuel traders like Musket.

Direct peers

• Sunoco LP: Major US wholesale fuel distributor with extensive terminal infrastructure serving jobbers, fleets, and retail customers. Direct competitor in rack sales, terminal operations, and refined products distribution.
• Buckeye Partners: Midstream operator of petroleum product terminals and pipelines across the US. Directly comparable to Musket's terminal network, refined products logistics, and bulk storage operations.
• World Fuel Services: Global fuel marketing and trading company serving B2B customers across aviation, marine, and land transportation. Closely comparable to Musket's commodity supply, trading, and logistics model for refined products.
• EG Group: International fuel retail and supply operator (including former Kroger fuel centers). Partner of Musket for European procurement; competes in similar fuel distribution and convenience-store adjacent fuel supply activities globally.

Emerging players

• Cargill (Energy/Commodities): JV partner with Love's in Heartwell Renewables; operates one of the world's largest agricultural and commodity trading platforms. Comparable in commodity trading scale and risk management capabilities, with adjacent renewable diesel exposure.

Others

• Love's Travel Stops (parent enterprise): Captive customer/parent of Musket; the integrated travel stop network provides the demand base for Musket's refined products business and dictates Musket's strategic direction.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/musket-corp.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 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 Musket Corp.