Alon USA Energy, Inc. said last week that it has been selected as the “stalking horse” bidder for Flying J, Inc. subsidiary Big West of California LLC’s 70,000 bpd refinery in Bakersfield, California, which filed for reorganization bankruptcy protection in December 2008.
Flying J and Big West of California, LLC entered into an Asset Purchase Agreement with Paramount Petroleum Corp., a subsidiary of Alon, to sell their interest in the refinery for $40 million plus the fair market value of inventory.