Midstates Petroleum acquires Diamond Gasoline Stations Inc.
Published 1:12 pm Sunday, July 2, 2023
Midstates Petroleum of Vernon announced it has acquired Diamond Gasoline Stations Inc. of Atmore as of June 13, 2023. Diamond Gasoline is a family owned and operated business that has served Alabama, Mississippi and Florida for the past 68 years after being founded by Roy White Sr. in 1965.
White ran the business until his passing in 1988 when his sons Roy, Tommy and Mitch took over the operation and grew it into the company it is today. The purchase of Diamond Gasoline will increase Midstates’ footprint to include 20 retail stores and add over 45 million gallons per year.
Midstates Petroleum, one of the largest Chevron jobbers (petroleum refiners) across the United States, enters the Gulf Shores and Florida market for the first time with this acquisition, according to officials.
“I am extremely grateful to the White Brothers for allowing my company the opportunity to carry on with what they built over the past half-century,” Ric Mavers of Midstates Petroleum said in a release. “It’s important to me to continue in the legacy in a manner that they would be proud of.”
Midstates Petroleum, a Chevron, Texaco, Exxon, Citgo, Marathon and now Shell jobber, grown over the last eight years making this its 15th oil company acquisition over the past few years.
“As I have stated before, my focus is to grow within our values, and if it doesn’t, we don’t propose a deal with other companies who want to sell. We execute at an exceedingly high level, so I refuse to compromise our operation just for the sake of growth,” said Mayers.