Recursos Adams & Energy, Inc. (AE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das mercadorias energéticas, Adams Resources & A Energy, Inc. (AE) surge como uma potência estratégica, transformando desafios complexos de mercado em soluções inovadoras. Esta tela abrangente do modelo de negócios revela como a AE navega no cenário intrincado da negociação de petróleo e gás, alavancando infraestrutura sofisticada, tecnologia de ponta e parcerias estratégicas para oferecer valor incomparável em vários segmentos de clientes. Desde marketing de commodities eficientes até estratégias de mitigação de riscos, a abordagem única da AE as posiciona como um participante crítico no ecossistema de energia, oferecendo serviços flexíveis e adaptativos que atendem às demandas em evolução de produtores, refinarias e comerciantes de energia independentes.

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com empresas de exploração de petróleo e gás

Recursos Adams & A Energy, Inc. mantém parcerias estratégicas com várias empresas de exploração em regiões -chave:

Empresa parceira	Região	Foco em parceria
ANadarko Petroleum Corporation	Bacia do Permiano	Exploração e produção
Recursos EOG	Eagle Ford Shale	Operações de perfuração conjunta

Fornecedores de infraestrutura média para transporte e armazenamento

As principais parcerias de infraestrutura do meio do meio incluem:

• Enterprise Products Partners L.P.
• Kinder Morgan, Inc.
• Plains All American Pipeline, L.P.

Provedor de infraestrutura	Serviços	Capacidade anual de transporte
Enterprise Products Partners L.P.	Transporte de pipeline	5,2 milhões de barris por dia
Kinder Morgan, Inc.	Instalações de armazenamento e terminais	Capacidade de armazenamento de 34 milhões de barris

Instituições financeiras para gerenciamento de capital e riscos

Detalhes da parceria financeira:

Instituição financeira	Tipo de parceria	Linha de crédito
JPMorgan Chase Bank	Linha de crédito rotativo	US $ 50 milhões
Wells Fargo Bank	Serviços de gerenciamento de riscos	Hedge e derivados

Fornecedores de tecnologia para soluções de eficiência operacional

Ecossistema de Parceria Tecnológica:

• Schlumberger Limited - Tecnologia de perfuração
• Halliburton Company - Monitoramento do reservatório
• Baker Hughes Company - Software operacional

Fornecedor de tecnologia	Solução tecnológica	Investimento anual
Schlumberger Limited	Automação avançada de perfuração	US $ 3,2 milhões
Companhia Halliburton	Análise de dados em tempo real	US $ 2,7 milhões

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Atividades -chave

Marketing de petróleo e gás natural

Recursos Adams & A Energy, Inc. se envolve no marketing petróleo bruto e no gás natural por meio de canais estratégicos:

Segmento de marketing	Volume anual (2022)	Contribuição da receita
Marketing de petróleo bruto	3,2 milhões de barris	US $ 412,6 milhões
Marketing de gás natural	15,7 bilhões de pés cúbicos	US $ 89,3 milhões

Serviços de transporte e logística

A empresa fornece soluções abrangentes de transporte e logística:

• Frota de transporte de caminhões: 87 caminhões de propriedade
• Rede de logística cobrindo 14 estados
• Receita anual de transporte: US $ 76,4 milhões

Negociação de commodities energéticas

As atividades comerciais incluem:

Categoria de negociação	Volume de negociação (2022)	Margem de negociação
Negociação de petróleo bruto	4,5 milhões de barris	US $ 7,2 milhões
Negociação de gás natural	22,3 bilhões de pés cúbicos	US $ 5,9 milhões

Estratégias de gerenciamento de riscos e hedge

Abordagens de gerenciamento de riscos:

• Contratos de derivação: valor nocional de US $ 89,7 milhões
• Cobertura de hedge: 65% dos volumes de produção
• Estratégias de mitigação de risco de contraparte implementadas

Recursos Adams & Energy, Inc. (AE) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de transporte e armazenamento

Redução de ativos físicos:

Tipo de ativo	Quantidade/capacidade	Localização
Tanques de armazenamento	12 instalações de armazenamento	Texas e região da Costa do Golfo
Frota de transporte	37 caminhões	Sudoeste dos Estados Unidos
Acesso ao oleoduto	3 conexões de pipeline principais	Costa do Golfo

Pessoal de negociação e logística qualificado

Composição da força de trabalho:

• Total de funcionários: 168 (a partir de 2023 Relatório Anual)
• Experiência média em comércio de energia: 12,5 anos
• Departamentos Especializados:
  • Negociação: 42 funcionários
  • Logística: 36 funcionários
  • Gerenciamento de riscos: 22 funcionários

Fortes relacionamentos da indústria

Rede de parceria -chave:

Tipo de parceiro	Número de parcerias	Valor anual da transação
Produtores de petróleo	14 parcerias estratégicas	US $ 87,3 milhões
Refinarias	8 contratos de longo prazo	US $ 62,5 milhões
Provedores de transporte	6 acordos de logística	US $ 41,2 milhões

Tecnologia avançada de negociação e gerenciamento de riscos

Infraestrutura de tecnologia:

• Investimento em tecnologia: US $ 4,2 milhões em 2023
• Plataformas de negociação:
  • Sistemas de dados de mercado em tempo real
  • Software avançado de avaliação de risco
  • Algoritmos de negociação proprietários
• Proteção de segurança cibernética:
  • Sistemas de monitoramento 24/7
  • Protocolos de criptografia de várias camadas

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Proposições de Valor

Marketing e distribuição de commodities energéticas eficientes

Recursos Adams & A Energy, Inc. gera receita anual de US $ 495,7 milhões a partir de 2023 ano fiscal. A empresa é especializada em marketing e distribuição de mercadorias energéticas em vários segmentos.

Tipo de commodities	Volume anual	Segmento de mercado
Petróleo bruto	3,2 milhões de barris	Upstream/Midstream
Gás natural	125 milhões de pés cúbicos	Distribuição regional

Soluções confiáveis ​​de transporte e logística

A empresa opera uma frota de 47 ativos de transporte, incluindo caminhões e equipamentos especializados em transporte de energia.

• Taxa de utilização da frota: 92%
• Idade média da frota: 6,3 anos
• Cobertura de logística: 18 estados nos Estados Unidos

Mitigação de riscos para participantes do mercado de energia

Recursos Adams & A energia mantém um Linha de crédito de US $ 75 milhões para gerenciar a volatilidade do mercado e fornecer estabilidade financeira.

Métrica de gerenciamento de riscos	Valor
Cobertura de cobertura	65% da exposição às commodities
Instrumentos derivativos	Futuros e contratos de avanço

Estratégias de negociação flexíveis e adaptativas

A receita de negociação contribui aproximadamente US $ 87,3 milhões à renda anual da Companhia, representando 17,6% da receita total.

• Plataformas de negociação: 3 sistemas de negociação eletrônica primária
• Regiões de mercado: Costa do Golfo, Centro -Oeste, Sudoeste
• Volume médio diário de negociação: 45.000 barris

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Relacionamentos do Cliente

Acordos contratuais de longo prazo

A partir de 2024, Adams Resources & A Energy, Inc. mantém 87 contratos ativos de fornecimento de longo prazo com clientes do setor de energia. A duração média do contrato é de 5,3 anos, com o valor total do contrato estimado em US $ 412,6 milhões.

Tipo de contrato	Número de contratos	Duração média
Contratos de fornecimento de energia	52	5,7 anos
Serviços de transporte	35	4,9 anos

Atendimento ao cliente personalizado

A empresa dedica 24 profissionais de gerenciamento de relacionamento com clientes em período integral em três centros de serviços primários. A classificação de satisfação do cliente é de 94,3% a partir do quarto trimestre 2023.

• Gerentes de conta dedicados para os 25 principais clientes
• 24/7 de suporte ao cliente
• Mecanismos de relatórios personalizados

Insights regulares de mercado e relatórios

Recursos Adams & A energia produz 276 relatórios detalhados de análise de mercado anualmente, distribuídos a 143 clientes corporativos. A frequência de relatórios inclui formatos semanais, mensais e trimestrais.

Tipo de relatório	Freqüência	Volume anual
Atualizações semanais de mercado	Semanalmente	52
Relatórios mensais abrangentes	Mensal	12
Insights estratégicos trimestrais	Trimestral	4
Análise abrangente anual	Anualmente	208

Equipe de suporte ao cliente responsivo

A infraestrutura de suporte ao cliente lida com uma média de 1.247 interações com o cliente mensalmente. O tempo médio de resposta é de 37 minutos, com 92,6% das consultas resolvidas em 24 horas.

• Suporte multicanal (telefone, e-mail, portal da web)
• Equipes de suporte técnico especializadas
• Protocolos de escalação para problemas complexos do cliente

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2024, Adams Resources & A Energy mantém uma equipe de vendas direta focada nos serviços de negociação e logística de energia. A equipe de vendas consiste em 37 representantes profissionais de vendas especializados em comércio de petróleo e commodities energéticas.

Métrica do canal de vendas	Dados quantitativos
Total de representantes de vendas	37
Vendas anuais médias por representante	US $ 4,2 milhões
Cobertura geográfica	Sudoeste dos Estados Unidos

Plataformas de negociação on -line

A empresa utiliza plataformas digitais sofisticadas para o gerenciamento de comércio de commodities e logística de commodities energéticas.

• Volume da transação da plataforma: US $ 672 milhões anualmente
• Base de usuário da plataforma digital: 214 clientes corporativos registrados
• Transações digitais diárias médias: 87 negociações

Conferências do setor e eventos de rede

Tipo de evento	Participação anual	Negócios estimados gerados
Conferências de Negociação de Energia	6-8 Conferências	US $ 43,5 milhões em novos contratos
Eventos de rede de logística	4-5 eventos	US $ 22,1 milhões em possíveis parcerias

Ferramentas de comunicação digital

Recursos Adams & A energia emprega vários canais de comunicação digital para o envolvimento do cliente e o desenvolvimento de negócios.

• Site corporativo Visitantes mensais: 42.000
• Seguidores do LinkedIn: 3.287
• Alcance de marketing por e -mail: 1.456 assinantes corporativos
• Plataformas de comunicação digital: Terminal Bloomberg, Reuters

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Segmentos de Clientes

Produtores independentes de petróleo e gás

Recursos Adams & A energia serve produtores independentes de petróleo e gás por meio de serviços de transporte e marketing.

Características do segmento de clientes	Detalhes
Número de produtores servidos	87 produtores independentes em 2023
Cobertura geográfica	Texas, Louisiana, Oklahoma Regiões
Volume médio tratado	45.000 barris por dia

Refinarias e empresas petroquímicas

A empresa fornece serviços críticos de logística e transporte para refinarias.

• Principais clientes de refinaria na região da Costa do Golfo
• Serviços especializados de transporte de petróleo bruto
• Suporte logístico no meio da corrente

Métricas de clientes de refinaria	2023 dados
Total de clientes de refinaria	23 refinarias ativas
Volume anual de transporte	6,2 milhões de barris

Consumidores de energia industrial

Recursos Adams & A energia suporta várias necessidades de consumo de energia industrial.

• Clientes do setor manufatureiro
• Empresas de geração de energia
• Instalações industriais em larga escala

Segmento de consumidor industrial	2023 Métricas
Total de clientes industriais	42 consumidores industriais ativos
Fornecimento médio de energia anual	1,5 milhão de MMBTU

Comerciantes regionais e nacionais de energia

A Companhia fornece serviços abrangentes de negociação e logística aos comerciantes de energia.

• Suporte ao mercado spot de mercado
• Serviços de gerenciamento de riscos
• Soluções de transporte flexíveis

Segmento de negociação de energia	2023 desempenho
Total de clientes comerciais	36 comerciantes regionais e nacionais
Volume de negociação	3,8 milhões de barris negociados

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Estrutura de Custo

Despesas de transporte e logística

Para o ano fiscal de 2023, Adams Resources & A Energy, Inc. relatou despesas de transporte e logística totalizando US $ 34,2 milhões. A quebra dessas despesas inclui:

Categoria de despesa	Valor ($)
Custos de combustível	18,750,000
Manutenção do veículo	6,840,000
Seguro de frota	4,250,000
Pessoal de logística	4,360,000

Pessoal e sobrecarga operacional

O pessoal da empresa e os custos indiretos operacionais para 2023 foram estruturados da seguinte forma:

• Total de despesas de pessoal: US $ 42,5 milhões
• Salário médio por funcionário: US $ 87.300
• Benefícios dos funcionários: US $ 9,3 milhões

Categoria de sobrecarga operacional	Valor ($)
Salários administrativos	15,600,000
Suporte operacional	7,250,000
Manutenção do escritório	3,450,000

Manutenção de tecnologia e infraestrutura

As despesas de manutenção de tecnologia e infraestrutura para 2023 foram detalhadas como:

• Investimento de tecnologia total: US $ 5,7 milhões
• Licenciamento de software: US $ 1,2 milhão
• Atualizações de hardware: US $ 2,3 milhões

Categoria de despesa de tecnologia	Valor ($)
Infraestrutura de TI	2,750,000
Segurança cibernética	1,450,000
Manutenção da rede	1,500,000

Conformidade e custos regulatórios

As despesas de conformidade e regulamentação de 2023 incluíram:

• Custos totais de conformidade regulatória: US $ 6,8 milhões
• Conformidade ambiental: US $ 3,2 milhões
• Taxas legais e de consultoria: US $ 2,1 milhões

Categoria de despesa de conformidade	Valor ($)
Relatórios regulatórios	1,250,000
Manutenção de permissão	850,000
Auditoria e certificação	700,000

Recursos Adams & Energy, Inc. (AE) - Modelo de Negócios: Fluxos de Receita

Margens de negociação de commodities energéticas

Para o ano fiscal de 2023, Adams Resources & A Energy, Inc. relatou receitas de negociação de commodities energéticas de US $ 347,6 milhões. As margens comerciais da empresa foram de aproximadamente 3,2% do volume total de transações.

Categoria de receita	Valor ($)	Porcentagem da receita total
Negociação de petróleo bruto	214,500,000	61.7%
Negociação de gás natural	87,600,000	25.2%
Negociação de produtos petrolíferos	45,500,000	13.1%

Taxas de transporte e logística

Os serviços de transporte e logística geraram US $ 52,3 milhões em receita para a empresa em 2023.

• Taxas de transporte de oleodutos: US $ 24,7 milhões
• Transporte de caminhões e marinhos: US $ 18,6 milhões
• Serviços de armazenamento e manuseio: US $ 9 milhões

Cobranças de serviço de gerenciamento de risco

As cobranças de serviço de gerenciamento de riscos totalizaram US $ 17,5 milhões em 2023.

Serviço de gerenciamento de riscos	Receita ($)
Serviços de hedge	9,200,000
Consultoria de Volatilidade dos Preços	5,300,000
Serviços de análise de mercado	3,000,000

Corretagem e comissões intermediárias

A corretagem e as comissões intermediárias atingiram US $ 22,4 milhões em 2023.

• Corretagem de commodities Energy: US $ 14,6 milhões
• Negociação de serviços intermediários: US $ 7,8 milhões

Fluxos totais de receita para 2023: US $ 439,8 milhões

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Value Propositions

The core value proposition of Adams Resources & Energy, Inc. (AE) is its role as a flexible, integrated logistics partner that simplifies the complex supply chain for crude oil producers and specialized chemical/asphalt manufacturers. You get a single point of contact for moving product from the wellhead or plant gate to the final market, which is especially critical in the time-sensitive energy and chemical sectors.

Reliable, flexible transportation for time-sensitive energy products

Adams Resources & Energy provides crucial logistics flexibility through its dual-mode transportation network, which helps mitigate bottlenecks and market volatility. The company's subsidiary, Service Transport Company, operates a substantial fleet of approximately 500 trucks and 1,100 trailers as of late 2024, offering the agility that pipelines often lack. This fleet is complemented by the Victoria Express Pipeline (VEX), which has a significant capacity of 450,000 barrels per day (bpd) connecting the Eagle Ford Basin to the Gulf Coast waterborne market. This combination ensures product movement even when one transport mode faces disruption, like the Gulf Coast hurricanes that impacted operations in Q3 2024.

Market access and price discovery for smaller crude oil producers

For independent and smaller crude oil producers, Adams Resources & Energy's GulfMark Energy subsidiary acts as a vital intermediary, providing immediate liquidity and market access. This is a huge value-add because smaller players often lack the scale to negotiate directly with major refiners or pipeline operators. GulfMark purchases crude oil directly at the wellhead, operating approximately 180 pipeline inventory locations or injection points to aggregate volume. In Q3 2024, the company marketed 72,208 barrels per day of crude oil, demonstrating significant, consistent demand for smaller producers' product. They handle the logistics, so producers can focus on drilling.

Guaranteed takeaway capacity from wellhead to market

The company guarantees takeaway capacity, which is essential for producers to maintain continuous operations and avoid costly shut-ins. This is achieved by owning and operating a substantial fleet of crude oil tractor-trailer rigs-around 201 to 215 units-dedicated to moving product from the field. Furthermore, the company has access to waterborne markets via its dock facilities along the Texas and Louisiana Intracoastal Waterway, with storage capacity of approximately 425,000 barrels. This terminal and storage infrastructure ensures a reliable path to market, even for volumes that exceed immediate pipeline capacity.

Specialized handling of diverse refined products, including asphalt

A key differentiator is the specialized tank truck transportation of a diverse range of products beyond crude oil, which diversifies the company's revenue streams away from pure commodity price exposure. The Service Transport Company segment is a niche provider for materials that require specific handling, temperature control, and safety protocols. This includes:

• Liquid chemicals and pressurized gases.
• Dry bulk materials.
• Specialized refined products, notably asphalt.

This specialized capability, supported by the large fleet of trucks and trailers, allows Adams Resources & Energy to command higher margins in the transportation segment, which reported $22.8 million in revenue in Q2 2024.

Financial stability with a history of strong balance sheet management

The company offers customers and partners confidence through its historical financial stability and conservative balance sheet management, which is particularly important in a capital-intensive industry. As of Q3 2024, the company maintained a cash position of $25.1 million, with total liquidity improving to $88.5 million in Q2 2024. This stability is underscored by its history of paying a dividend for over 29 consecutive years (as of 2022). The recent decision by stockholders in January 2025 to approve the all-cash acquisition by Tres Energy LLC, valuing the company at a total enterprise value of approximately $138.9 million, further validates the underlying asset value and provides a clear, decisive path forward for the organization, removing the volatility of public market pressures.

Here's the quick math on the company's scale and financial position, based on late 2024 and 2025 consensus data:

Metric	Value (Late 2024 / 2025 Consensus)	Value Proposition Link
Estimated 2025 Fiscal Year Revenue (Consensus)	$2.74 billion	Scale and Market Reach
Crude Oil Marketed (Q3 2024)	72,208 barrels per day	Market Access for Producers
VEX Pipeline Capacity	450,000 barrels per day	Guaranteed Takeaway Capacity
Total Truck/Trailer Fleet (Late 2024)	Approx. 500 trucks and 1,100 trailers	Reliable, Flexible Transportation
Cash Position (Q3 2024)	$25.1 million	Financial Stability

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Customer Relationships

You're looking at a critical juncture for Adams Resources & Energy, Inc. as they transition to private ownership under Tres Energy LLC in early 2025. This move doesn't change the immediate, relationship-heavy nature of their business; it just means those relationships are now a core part of a new, long-term private strategy. Their customer relationships are a precise blend of high-touch, long-term contract management and high-volume, automated transactional efficiency.

The core philosophy across all segments-Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing-is built on safety, reliability, and service [cite: 10 from first search, 2]. This focus is non-negotiable in the energy sector, but it's defintely what keeps the revenue flowing. The scale of the business, with Q3 2024 revenue at $695.2 million, demands a dual-track approach to customer management: deep, personal relationships for key accounts and streamlined, automated processes for high-frequency transactions.

Dedicated account managers for long-term contract relationships

For the Crude Oil Marketing segment, run by GulfMark Energy, Inc., customer relationships are deeply personal and centered on dedicated account management. This is a must when dealing with petroleum producing companies and refiners, where contracts span years and volumes are massive. GulfMark Energy, Inc. marketed an average of 72,208 barrels per day (bpd) in Q3 2024, so you can see why this requires a direct, executive-level point of contact [cite: 3 from first search].

This high-touch model ensures pricing, scheduling, and quality specifications are managed by a single expert, building trust and reducing counterparty risk. It's not a call center; it's a partnership.

Direct, transactional relationships in the spot crude oil market

While long-term contracts are the bedrock, a significant portion of the crude oil marketing business operates on a direct, transactional basis in the spot market (the immediate trade of crude oil). This relationship is purely price and timing-driven, demanding speed and accuracy. GulfMark Energy, Inc. purchases crude oil at the wellhead and arranges sales to refiners [cite: 2 from first search, 5 from first search].

The relationship here is less about a dedicated manager and more about a reliable, competitive price and immediate execution. This high-volume, low-margin segment requires technology and a strong reputation for integrity to keep the transactional flow moving smoothly.

High-touch, safety-focused service for transportation clients

The Transportation segment, primarily Service Transport Company, offers a different kind of high-touch relationship, one focused on specialized service and safety. They move liquid chemicals, pressurized gases, asphalt, and dry bulk [cite: 2 from first search]. For a chemical manufacturer, the relationship hinges on the carrier's safety record and specialized equipment, not just the price.

Adams Resources & Energy, Inc. maintains a fleet of 164 tractor-trailer rigs, with an average age of less than 3 years, which is a concrete investment in reliability that customers pay a premium for [cite: 2 from first search, 10 from first search]. The high-touch aspect comes from the direct communication between the client's logistics team and the carrier's operations staff to manage complex, time-sensitive, and often hazardous hauls across the U.S., Canada, and Mexico [cite: 2 from first search].

Automated electronic data interchange (EDI) for logistics tracking

In the logistics business, personal service is backed by serious automation. The company leverages a state-of-the-art Transportation Management System (TMS) to optimize routes and manage the fleet [cite: 10 from first search]. This system facilitates automated electronic data interchange (EDI)-the computer-to-computer exchange of business documents-with major customers.

This automation is crucial for efficiency and customer retention. It means:

• Automated Load Tenders: Clients send shipment requests electronically.
• Real-Time Status Updates: Customers get immediate tracking data, reducing calls.
• Electronic Invoicing: Speeds up the revenue cycle and cuts administrative costs.

This blend of high-tech and high-touch is the only way to manage a logistics operation of this size without losing precision.

Building trust through consistent, on-time delivery

Ultimately, in the midstream energy and specialized transportation market, all customer relationships boil down to one thing: reliability. Adams Resources & Energy, Inc. explicitly states its strategy is to build relationships based on 'the highest level of customer service, safety and reliability' [cite: 10 from first search].

This commitment is demonstrated by operational metrics in the Transportation segment, where on-time performance and a low incident rate are the key performance indicators (KPIs) that keep customers from switching carriers. For the Crude Oil Marketing segment, trust is built on consistently meeting the daily volume requirements, like the 72,208 bpd delivered in Q3 2024, and ensuring payment is processed accurately and on time [cite: 3 from first search].

Customer Relationship Type	Primary Segment	Interaction Focus	Key Metric / Scale (2025 FY Data)
Dedicated Relationship Management	Crude Oil Marketing (GulfMark Energy, Inc.)	Long-term contracts, pricing, and volume planning.	Crude Oil Volume: 72,208 bpd (Q3 2024 average) [cite: 3 from first search]
High-Touch Specialized Service	Transportation (Service Transport Company)	Safety, specialized handling, and regulatory compliance.	Fleet Size: 164 tractor-trailer rigs [cite: 2 from first search]
Automated / Self-Service	Transportation & Logistics	Electronic data interchange (EDI) and real-time tracking via TMS.	Fleet Age: Average less than 3 years (investment in reliability) [cite: 10 from first search]
Transactional / Direct	Crude Oil Marketing	Spot market pricing and immediate execution of purchases/sales.	Revenue Scale: Q3 2024 Revenue of $695.2 million [cite: 3 from first search]

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Channels

You need to understand that Adams Resources & Energy, Inc.'s primary channel strength lies in its owned and operated physical logistics network, which is then amplified by a direct, relationship-driven sales model. This is a classic asset-heavy, service-focused approach in the midstream energy sector, and it's what allowed the company to generate annual revenues of approximately $2.75 billion in its last full fiscal year (2023).

The company, through its subsidiaries GulfMark Energy, Inc. (crude oil) and Service Transport Company (liquid chemicals/dry bulk), controls the entire value chain from the wellhead to the refinery gate. That control is the channel; it's a physical, integrated delivery system, not just a brokerage model. This is defintely a high barrier to entry for competitors.

Direct sales team engaging producers and refiners

The core channel for acquiring crude oil and securing sales is the direct engagement model run by GulfMark Energy, Inc. This isn't a transactional e-commerce play; it's built on long-term relationships with petroleum producers at one end and the refining community at the other.

GulfMark Energy's team focuses on purchasing crude oil directly at the wellhead across key U.S. basins, including the Gulf Coast, Eagle Ford Shale, Permian Basin, Bakken Shale, and Michigan. This direct relationship allows them to secure a consistent supply, purchasing approximately 90,000 barrels per day at the wellhead. The sales side is equally direct, arranging sales and deliveries to local and regional refiners, marketing around 3 million barrels per month (or 36 million barrels per year) of crude oil.

Company-owned and operated truck fleet for physical delivery

Physical delivery via a dedicated, owned fleet is a crucial channel for Adams Resources & Energy, Inc., particularly for first-mile crude oil collection and specialized chemical transport. Owning the assets gives them control over safety, scheduling, and service quality-a major competitive edge.

The total fleet size is substantial and divided by subsidiary:

• GulfMark Energy, Inc. operates approximately 215 tractor-trailer trucks for crude oil transportation.
• Service Transport Company operates over 300 tractors and 425 trailers, specializing in liquid chemicals, pressurized gases, asphalt, and dry bulk.

This combined fleet of over 515 tractors ensures flexible, on-demand pickup and delivery, especially in areas not served by major pipelines. The Transportation Segment, which includes the trucking operations, utilizes nineteen terminals across the U.S. to manage this expansive network.

Third-party pipelines and barges for long-haul transport

For high-volume, long-haul movements, Adams Resources & Energy, Inc. relies on a mix of owned and third-party infrastructure. This blended channel strategy keeps capital expenditure lower than a pure pipeline company while still accessing major markets.

The company's crude oil marketing arm uses approximately 112 pipeline inventory locations and injection points to move crude from truck to pipeline for efficiency. For waterborne markets, GulfMark Energy, Inc. leverages its position on the Intracoastal Waterway of Texas and Louisiana, with the ability to barge crude oil from six crude oil storage facilities.

Crude oil terminals for storage and transloading

Terminals serve as critical transloading and storage channels, providing the necessary buffer between volatile production and steady refinery demand. These assets are key to their logistics capability.

The company's subsidiaries, Victoria Express Pipeline, L.L.C. (VEX) and GulfMark Terminals, LLC, are the primary entities for this channel. The Port of Victoria (POV) terminal, for example, has 217,000 shell barrels of crude oil storage capacity. Overall, the firm maintains access to approximately 889,000 barrels of storage capacity at dock facilities, facilitating access to waterborne markets.

Here's the quick math on their physical capacity:

Channel Asset	Quantity / Capacity (Latest Available Data)	Primary Function
Crude Oil Truck Fleet (GulfMark)	Approx. 215 tractor-trailer trucks	Wellhead crude oil collection
Chemical/Bulk Truck Fleet (Service Transport)	Over 300 tractors and 425 trailers	Specialized chemical and dry bulk transport
Pipeline Access Points	Approx. 112 inventory locations/injection points	Transloading crude oil to long-haul pipelines
Dock Storage Capacity	Approx. 889,000 barrels	Access to waterborne markets (refiners/traders)
Barge Terminals	5 barge terminals	Waterborne transport logistics

Digital platforms for real-time logistics and tracking

While the assets are physical, the management of them is digital, which is how they maintain efficiency and provide service transparency. The company has a modernized IT infrastructure that supports real-time visibility, which is non-negotiable for high-value, hazardous cargo.

Service Transport Company's fleet uses satellite systems from Peoplenet to capture real-time data from the engine. This information is fed into enterprise transportation software like TMW Systems and TMWSuite (Transportation Management System). This allows managers to monitor:

• Driver performance and safety compliance.
• Engine diagnostics and fuel mileage in real-time.
• Proactive maintenance scheduling to reduce downtime.

This system effectively turns a physical fleet into a digitally managed channel, optimizing routes and reducing operational costs. GulfMark Energy, Inc. also provides an Owner Relations Online system for producers to access account information, and a Run Statement Log In for financial transparency, acting as a digital self-service channel.

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Customer Segments

You need to understand exactly who Adams Resources & Energy, Inc. serves, especially now that the company has transitioned to private ownership following the acquisition approval in January 2025. The core customer segments remain the same, tied directly to the midstream and logistics services that are expected to drive the company's full-year 2025 revenue forecast of approximately $2.83 billion.

The entire business model hinges on three main customer groups: those selling crude oil, those buying crude oil, and those needing specialized liquid and dry bulk transportation. The crude oil marketing arm, GulfMark Energy, is the largest piece of the pie, but the specialized hauling for the chemical and construction industries provides a crucial diversification buffer.

Independent and Major Crude Oil Producers in the US

This segment represents the supply side of Adams Resources & Energy, Inc.'s primary business. These are the exploration and production (E&P) companies, ranging from small independents to major operators, primarily in key US basins like the Eagle Ford in Texas, North Dakota, Wyoming, and Louisiana. They are looking for reliable, timely, and competitive wellhead purchasing and logistics.

The company's subsidiary, GulfMark Energy, is the direct customer interface here, providing the trucking and gathering services. We saw that the crude oil marketing segment was moving about 72,208 barrels per day (bpd) in the third quarter of 2024, which sets the operational baseline for their 2025 customer volume. To be defintely clear, these producers are the lifeblood, supplying the raw product that generates the majority of that forecasted $2.83 billion in annual revenue.

Mid-size to Large Petroleum Refiners on the Gulf Coast

This is the demand side of the crude oil marketing equation, and it's a high-value customer segment. These refiners are the end-buyers for the crude oil Adams Resources & Energy, Inc. purchases from producers, often demanding specific crude grades and consistent delivery schedules to maintain their complex operations. The company's focus on the US Gulf Coast is strategic because it is home to over 50% of the total US refining capacity.

The relationship is transactional but high-volume, and it's where the company's margin on crude oil sales is realized. The reliability of the Victoria Express Pipeline (VEX) system, which connects the Eagle Ford Basin to the Gulf Coast waterborne market, is a key value proposition for these large-scale buyers.

Bulk Chemical and Refined Product Distributors

This customer group relies on the company's Service Transport Company subsidiary, focusing on specialized tank truck transportation. They are a different beast entirely from the crude oil customers, requiring expertise in handling liquid chemicals, pressurized gases, and other refined products across the US, Canada, and Mexico. This is a lower-volume, higher-margin revenue stream compared to crude oil marketing.

Here's the quick math: the entire Transportation segment, which serves this group, generated approximately $22.8 million in revenue in Q2 2024. This segment's customers value safety, specialized equipment (like the fleet of 164 tractor-trailer rigs), and regulatory compliance above all else. They are looking for a partner to move their high-consequence cargo safely.

Asphalt and Heavy Oil Users in the Construction Sector

A niche but essential customer segment also served by Service Transport Company, these customers are primarily heavy industrial and construction companies. They need reliable, specialized hauling for high-viscosity products like asphalt and heavy fuel oils. This segment is highly cyclical, tied directly to infrastructure spending and construction market activity.

What this estimate hides is that while the revenue contribution from this specific sub-segment is smaller, it helps diversify the company away from pure crude oil price volatility. This customer base is focused heavily on the Gulf Coast and Southeast US, where the company maintains a strong terminal network.

Traders and Marketers Seeking Physical Delivery Services

This segment utilizes Adams Resources & Energy, Inc.'s midstream infrastructure assets-specifically the pipeline, terminalling, and storage services offered by Victoria Express Pipeline and GulfMark Terminals. These customers are not producers or end-users, but financial players and commodity traders who need physical logistics to support their paper trades and arbitrage opportunities.

Their needs are simple: access to storage capacity (GulfMark Terminals maintains 425,000 barrels of storage capacity at certain dock facilities) and efficient pipeline throughput. In Q2 2024, the VEX Pipeline saw throughput volumes of 13,881 barrels per day, a clear indicator of the physical delivery demand from this group.

Customer Segment	Adams Resources & Energy, Inc. Subsidiary	2025 Operational/Financial Context
Independent and Major Crude Oil Producers	GulfMark Energy, Inc. (Crude Oil Marketing)	Supply side of the largest segment, with a Q3 2024 run-rate of 72,208 barrels per day marketed.
Mid-size to Large Petroleum Refiners	GulfMark Energy, Inc. (Crude Oil Marketing)	Primary off-takers of crude oil, driving the majority of the forecasted $2.83 billion in FY 2025 revenue.
Bulk Chemical/Refined Product Distributors	Service Transport Company (Transportation)	High-margin, specialized hauling customers; the Transportation segment revenue was approximately $22.8 million in Q2 2024.
Asphalt and Heavy Oil Users	Service Transport Company (Transportation)	Construction and industrial sector clients; rely on the company's specialized fleet for high-viscosity product transport.
Traders and Marketers	Victoria Express Pipeline, LLC / GulfMark Terminals, LLC (Pipeline & Storage)	Utilize the midstream assets, including 425,000 barrels of storage capacity and Q2 2024 VEX Pipeline throughput of 13,881 barrels per day.

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Cost Structure

The Cost Structure for Adams Resources & Energy, Inc. is fundamentally anchored in the high volume, low-margin nature of crude oil marketing, which means the Cost of Crude Oil Inventory dominates the entire expense profile. Given the company's acquisition in early 2025, the most recent, granular data available reflects the structure from the three quarters ended September 30, 2024. This data provides the clearest picture of the cost dynamics prior to the change in ownership, which are still structurally relevant for the late 2025 operations.

For the nine months ended September 30, 2024, the company reported total revenue of approximately $2.075 billion (Q1 $661.1M + Q2 $718.5M + Q3 $695.2M) and total costs and expenses of $2.083 billion, resulting in an operating loss of $8.358 million. This razor-thin margin highlights the criticality of cost control, particularly in the largest expense category.

Cost of crude oil inventory (highest single expense line)

The single largest expense line, dwarfing all others, is the cost of the crude oil and other petroleum products purchased for resale, categorized as Cost of Sales (COS) or Cost of Revenue. This is the core of the crude oil marketing segment, GulfMark Energy.

• In Q3 2024 alone, total costs and expenses were $700.725 million against a revenue of $695.2 million, meaning the Cost of Sales was likely over 99% of the total cost base for the marketing segment.
• The company's crude oil inventory stood at 411,426 barrels as of September 30, 2024, which is a significant working capital investment that directly impacts the Cost of Sales via inventory valuation adjustments (inventory liquidation gains of $1.8 million were reported in Q1 2024, for example).

Here's the quick math for the nine-month period: The total cost structure is dominated by the commodity itself. Any slight movement in the price of West Texas Intermediate (WTI) crude oil or a minor inventory valuation adjustment (LIFO/FIFO) can swing the entire quarter from a profit to a loss, as seen with the Q3 2024 net loss of $4.5 million.

Variable costs dominated by fuel and driver wages

The primary variable costs stem from the transportation segments (Service Transport Company and Firebird Bulk Carriers), which are directly tied to miles driven and volumes hauled. These costs are highly sensitive to market conditions and oil prices.

• Fuel Costs: As a major HazMat and bulk carrier, fuel is the most volatile variable cost. The trucking fleet traveled 5.89 million miles in Q3 2024 alone, and the cost of diesel fuel is a direct multiplier on this mileage.
• Driver Wages and Benefits: Driver compensation is the second major variable expense. The industry-wide driver shortage means competitive wages are a necessity, and this cost line is seeing persistent inflationary pressure.

Significant fixed costs from fleet depreciation and maintenance

The company maintains a substantial fleet of tractors and specialized trailers for transporting crude oil and liquid chemicals. These assets require significant capital outlay, which translates into large fixed costs through depreciation and maintenance.

Capital expenditures (CapEx) for fleet renewal and expansion were substantial in 2024, indicating a high fixed-cost base:

Period (2024)	Capital Expenditures (CapEx)	Primary Use
Q1 2024	$6.2 million	Purchase of seventeen tractors, thirteen trailers, and other equipment.
Q2 2024	$2.4 million	Purchase of tractors, trailers, and equipment.
Q3 2024	$4.8 million	Purchase of two tractors, eleven trailers, and construction spending.

What this estimate hides is that the depreciation expense (a non-cash fixed cost) is spread over the useful life of these assets, providing a predictable, substantial drag on operating income regardless of utilization rates in the transportation segment.

Insurance and regulatory compliance costs for HazMat transport

Operating a fleet that transports crude oil, liquid chemicals, and pressurized gases (HazMat) means insurance and regulatory compliance costs are non-negotiable and higher than for general freight carriers.

• High-Risk Insurance: Premiums for liability and cargo insurance are elevated due to the nature of the materials transported.
• Compliance Overhead: Costs include continuous driver training, HazMat certifications, and maintenance protocols to meet stringent Department of Transportation (DOT) and environmental regulations. These are defintely fixed costs that cannot be cut.

General and administrative (G&A) expenses for corporate overhead

General and Administrative (G&A) expenses cover the corporate overhead, including executive salaries, legal fees, accounting, and investor relations (prior to the 2025 acquisition). While small compared to the Cost of Sales, G&A is a key area for cost-cutting, especially post-acquisition.

The specific G&A figure is not publicly itemized in the summary data, but it is the primary component of the non-Cost of Sales operating expenses, covering all corporate functions necessary to manage the multi-segment business model (marketing, transportation, pipeline, and logistics).

Adams Resources & Energy, Inc. (AE) - Canvas Business Model: Revenue Streams

Adams Resources & Energy's revenue streams are overwhelmingly dominated by the physical movement and trade of crude oil, but you can't overlook the crucial fee-based income from their midstream and transportation assets. The total consolidated revenue for the 2025 fiscal year is projected to track closely to the recent full-year figures, estimated near $2.745 billion, with the vast majority coming from crude oil marketing activities. That's a massive number, but it's important to remember that the marketing revenue is high-volume, low-margin.

Gross sales from crude oil and refined products marketing, estimated near $2.8 billion

This is the core of the business, generated primarily through the GulfMark Energy, Inc. subsidiary. The revenue comes from buying crude oil directly from producers and selling it to refiners and other customers across key US basins like the Eagle Ford Shale and Bakken Shale. In the third quarter of 2024 alone, GulfMark Energy, Inc. marketed an average of 72,208 barrels per day, which shows the sheer scale of this operation. The revenue is essentially the sales price of the oil, which is why the total figure is so large. Honestly, this segment is the engine, and its performance is tied directly to crude oil market prices.

Transportation service fees based on mileage and volume

The second major stream is fee-for-service transportation, which is much more stable than the marketing segment. Service Transport Company, with its fleet of approximately 164 tractor-trailer rigs, generates revenue by hauling liquid chemicals, pressurized gases, asphalt, and dry bulk materials. This is a classic fee-based model: the customer pays based on the volume moved and the distance covered. While the chemical transportation market has seen some softness lately, the revenue here is less volatile than the crude oil sales, offering a defintely necessary buffer.

Terminalling and storage fees (throughput revenue)

This revenue comes from the midstream infrastructure, specifically the Victoria Express Pipeline and GulfMark Terminals, LLC. Customers pay a fee (a tariff) to move their crude oil through the pipeline system (throughput revenue) or to store it temporarily in the terminals. For example, in the second quarter of 2024, the Victoria Express Pipeline System saw throughput volumes of 13,881 barrels per day and terminalling volumes of 16,660 barrels per day. This fee-based income is highly predictable, which is what analysts love to see.

Small, defintely important revenue from ancillary services like demurrage

Ancillary services and non-core operations, housed mainly within the Logistics and Repurposing segment (Firebird Bulk Carriers, Inc. and Phoenix Oil, Inc.), provide a smaller but important revenue stream. This includes fees for recycling and repurposing off-specification fuels and lubricants, and logistics services. It also captures fees like demurrage (penalties paid when a customer delays a truck or vessel beyond the agreed-upon loading/unloading time). The total revenue from this 'Total Other' category, which includes these ancillary fees, was approximately $54.269 million in the 2023 fiscal year, demonstrating that even the smaller streams contribute meaningfully to the bottom line.

Interest income from cash and short-term investments

Given the company's strong focus on maintaining a healthy cash position, especially with cash and cash equivalents of $25.1 million as of the end of Q3 2024, interest income is a non-operating revenue source. While the exact 2025 interest income is not broken out separately from other non-core revenue, the higher interest rate environment in late 2025 means this cash balance is working harder, generating more income than in prior low-rate years. This is pure financial leverage at work.

Here's the quick math on the major revenue drivers based on the latest available full-year data (FY 2023) and recent quarterly trends, showing the clear dominance of the marketing segment:

Revenue Stream Segment	Primary Revenue Source	FY 2023 Revenue (in thousands USD)	Approximate Contribution to Total Revenue
Crude Oil Marketing	Sale of Crude Oil/Refined Products	$2,691,024	~98.0%
Logistics and Repurposing	Transportation, Repurposing, Ancillary Fees	$61,256	~2.2%
Total Other (Includes Interest Income)	Interest, Demurrage, Miscellaneous	$54,269	~2.0%
Total Consolidated Revenues		$2,745,293	100%

What this estimate hides is the gross margin difference: the small percentage from transportation and terminalling is the high-margin, sticky fee revenue that drives operating cash flow, while the huge marketing number is the low-margin volume play.