History
TexSyn Energy was founded and commenced operations in 1976 and has continued to diversify and grow over the past 41 years in all aspects of the petroleum complex where opportunities arose. An executive summary of the company’s performance, operations and growth follows.
Early Days
TexSyn initially operated for the benefit of East Texas Refinery, Kilgore, Texas; providing Technical Consulting for crude purchases and product sales. TexSyn found its niche in the market place by providing services and expertise that no other company could deliver. TexSyn focused on well-built and expanded its customer base to include some of the most renowned corporations in the oil industry such as British Petroleum, Beaumont Oil and Tauber Trading, in Purchasing, Selling and Trading Fuel Oil in Texas and Louisiana. TexSyn brilliantly penetrated the market and began its expansion by extending it across the Gulf Coast and inland to Vicksburg, Mississippi! Trading execution and delivery was done by dual methods; barge and transport truck.
Development Years
TexSyn started intensifying trading operations to all of Texas which in turn increased its current assets by enlarging its operating equipment to 5 barges, 46 transport trucks and 43 rail cars, while expanding operations and personnel to 80 employees. TexSyn focused primarily on Specialty Wax Crudes and Fuel Oils making tight delivery schedules as per customers demand. The company’s clientele base continued to grow tremendously to include Arco, Texaco, Shell and Petrolite Specialty Polymers. TexSyn soon began processing crude oils in niche markets, utilizing a Mobile R-2 Permit issued by the State Of Texas, It worth mentioning here that TexSyn being the only operator ever licensed and permitted to process feedstock in this manner for all of Texas.
Mid Years
TexSyn Energy adopted a strategic vertical integration by forming a subsidiary of Sun First Engineering that concentrated on the midstream business to supplement its growing demand for products, logistics and engineering expertise. Sun First Engineering designed and constructed several pipelines interconnecting major natural gas and crude gathering lines and supplying end-user industrials with direction connections to major gas transportation lines and smaller producers access to major crude trading centers. TexSyn continued to diversify its products and grow, expanding trading operations into VGO, coordinating logistics and transportation ranging from 80,000 to 200,000 barrels per month of VGO, while continuing to trade 80,000 barrels monthly of Specialty Wax Crude Shipments.
Later Years
In order to take advantage of the natural gas liquids market TexSyn’s subsidiary Sun First developed 4 natural gas processing plants starting from analyzing the opportunity through engineering, detailed design, purchasing, construction, commissioning and start-up. TexSyn initiated hedging strategies in the NYMEX for both crude and natural gas providing smaller producers access to the trading opportunities for fixing or floating cash flow for their crude oil or natural gas production. TexSyn subsidiary FCN Trading was formed and shared a seat on the NYMEX exchange with a larger independent trading firm providing EFP’s, collars, spreads and futures execution to its customer base.
Major Growth
History
TexSyn Energy was founded and commenced operations in 1976 and has continued to diversify and grow over the past 41 years in all aspects of the petroleum complex where opportunities arose. An executive summary of the company’s performance, operations and growth follows.
Early Days
TexSyn initially operated for the benefit of East Texas Refinery, Kilgore, Texas; providing Technical Consulting for crude purchases and product sales. TexSyn found its niche in the market place by providing services and expertise that no other company could deliver. TexSyn focused on well-built and expanded its customer base to include some of the most renowned corporations in the oil industry such as British Petroleum, Beaumont Oil and Tauber Trading, in Purchasing, Selling and Trading Fuel Oil in Texas and Louisiana. TexSyn brilliantly penetrated the market and began its expansion by extending it across the Gulf Coast and inland to Vicksburg, Mississippi! Trading execution and delivery was done by dual methods; barge and transport truck.
Development Years
TexSyn started intensifying trading operations to all of Texas which in turn increased its current assets by enlarging its operating equipment to 5 barges, 46 transport trucks and 43 rail cars, while expanding operations and personnel to 80 employees. TexSyn focused primarily on Specialty Wax Crudes and Fuel Oils making tight delivery schedules as per customers demand. The company’s clientele base continued to grow tremendously to include Arco, Texaco, Shell and Petrolite Specialty Polymers. TexSyn soon began processing crude oils in niche markets, utilizing a Mobile R-2 Permit issued by the State Of Texas, It worth mentioning here that TexSyn being the only operator ever licensed and permitted to process feedstock in this manner for all of Texas.
Mid Years
TexSyn Energy adopted a strategic vertical integration by forming a subsidiary of Sun First Engineering that concentrated on the midstream business to supplement its growing demand for products, logistics and engineering expertise. Sun First Engineering designed and constructed several pipelines interconnecting major natural gas and crude gathering lines and supplying end-user industrials with direction connections to major gas transportation lines and smaller producers access to major crude trading centers. TexSyn continued to diversify its products and grow, expanding trading operations into VGO, coordinating logistics and transportation ranging from 80,000 to 200,000 barrels per month of VGO, while continuing to trade 80,000 barrels monthly of Specialty Wax Crude Shipments.
Later Years
In order to take advantage of the natural gas liquids market TexSyn’s subsidiary Sun First developed 4 natural gas processing plants starting from analyzing the opportunity through engineering, detailed design, purchasing, construction, commissioning and start-up. TexSyn initiated hedging strategies in the NYMEX for both crude and natural gas providing smaller producers access to the trading opportunities for fixing or floating cash flow for their crude oil or natural gas production. TexSyn subsidiary FCN Trading was formed and shared a seat on the NYMEX exchange with a larger independent trading firm providing EFP’s, collars, spreads and futures execution to its customer base.