| Business Summary | | Pride
Companies,
L.P.
owns
and
operates
a
common
carrier
products
pipeline
system
and
three
products
terminals
in
Abilene,
Texas,
San
Angelo,
Texas,
and
Aledo,
Texas,
which
are
used
to
market
conventional
gasoline,
low
sulfur
diesel
fuel
and
military
aviation
fuel.
The
Company
also
owns
a
modern
simplex
petroleum
refinery
facility
that
was
mothballed
on
March
22,
1998.
In
April
1998,
the
Company
began
purchasing
refined
products
from
Equilon,
a
refining
and
marketing
joint
venture
between
Royal
Dutch/Shell
Group
and
Texaco,
Inc.,
to
market
through
its
pipeline
system
and
products
terminals.
On
January
17,
2001,
the
Company
filed
a
voluntary
petition
under
Chapter
11
of
the
Federal
Bankruptcy
Code
in
the
Northern
District
of
Texas,
Abilene
Division,
and
was
authorized
to
continue
managing
and
operating
the
business
as
a
debtor
in
possession
subject
to
the
control
and
supervision
of
the
Bankruptcy
Court. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Pride
Companies,
L.P.
owns
and
operates
a
crude
oil
gathering
system,
that
gathers,
transports,
resells
and
redelivers
crude
oil
in
the
Texas
market
and
certain
integrated
products
pipelines
and
terminals.
For
the
three
months
ended
3/31/01,
revenues
increased
13%
to
$56.9
million.
Net
loss
applicable
to
Common
Units
fell
48%
to
$780
thousand.
Results
reflect
DESC
proceeds
and
decreased
interest
expenses
due
to
the
payment
on
term
loan. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| E. Peter Corcoran, 72 Chairman | -- | Brad Stephens, 50 CEO,
Treasurer, Assistant Sec., Director | $2.5M | D. Wayne Malone, 57 Pres,
COO, Assistant Sec., Director | 2.5M | George Percival, 41 CFO | 810K | Dave Caddell, 51 VP,
Gen. Counsel, Assistant Sec. | 1.5M | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|