- Current report filing (8-K)
07 Septembre 2012 - 2:01PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): September 7, 2012 (August 31, 2012)
CVR ENERGY, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-33492
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61-1512186
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification Number)
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2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
(Address of principal executive offices,
including zip code)
Registrants telephone number, including area code: (281) 207-3200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01.
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Entry into a Material Definitive Agreement
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On August 31, 2012, Coffeyville Resources Refining & Marketing, LLC (
CRRM
), a wholly-owned subsidiary of CVR Energy, Inc.
(the
Company
), and Vitol Inc. (
Vitol
), entered into an Amended and Restated Crude Oil Supply Agreement (the
Vitol Agreement
). The Vitol Agreement amends and restates the Crude Oil Supply
Agreement between CRRM and Vitol dated March 30, 2011, as amended (the
Previous Supply Agreement
).
The terms of the
Vitol Agreement provide that CRRM will obtain all of the crude oil for the Companys two oil refineries through Vitol, other than crude oil that CRRM acquires in Kansas, Missouri, North Dakota, Oklahoma, Texas, Wyoming and all states adjacent
to such states and crude oil that is transported in whole or in part via railcar or truck. Pursuant to the Vitol Agreement, CRRM and Vitol work together to identify crude oil and pricing terms that meet CRRMs crude oil requirements. CRRM
and/or Vitol negotiate the cost of each barrel of crude oil that is purchased from third party crude oil suppliers. Vitol purchases all such crude oil, executes all third party sourcing transactions and provides transportation and other logistical
services for the subject crude oil. Vitol then sells such crude oil and delivers the same to CRRM. Title and risk of loss for all crude oil purchased by CRRM via the Vitol Agreement passes to CRRM upon delivery to one of the Companys delivery
points designated in the Vitol Agreement. CRRM pays Vitol a fixed origination fee per barrel plus the negotiated cost (including logistics costs) of each barrel of crude oil purchased.
The Vitol Agreement has an initial term commencing August 31, 2012 and extending through December 31, 2014 (the
Initial Term
). Following the Initial Term, the Vitol Agreement
will automatically renew for successive one-year terms (each such term, a
Renewal Term
) unless either party provides the other with notice of nonrenewal at least 180 days prior to expiration of the Initial Term or any Renewal
Term. Notwithstanding the foregoing, CRRM has an option to terminate the Vitol Agreement effective December 31, 2013 by providing written notice of termination to Vitol on or before May 1, 2013.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 7, 2012
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CVR ENERGY, INC.
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By:
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/s/ Edmund S. Gross
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Edmund S. Gross
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Senior Vice President, General Counsel and Secretary
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