HFC
#I understand the question.
What I'm going to tell you is that we're going to have to be more explicit at upcoming analyst day, which is not yet on the calendar.
But we do want to give comfort and characterization around these projects.
What I would say is liquid yield improvement is core to refinery profitability.
Yes, that does have the effect of bringing more light product to market but if you're bringing light product out of what is otherwise heavy oil discounted sales from a profitability perspective, it's a much new transaction.
The crude slate substitution, those types of projects, tend to be very high return projects.
So what we will do and plan to do, is to get this group together and demonstrate what the projects consist of, how they respond profit-wise in different crack spread environments.
But I want to leave you with the thought that we're not talking about large refined product expansions in terms of making a whole lot more gasoline and diesel.
What we're doing is improving the operating efficiency and the yield efficiency of existing plants at largely existing crude rates.
Yes.
I would say it's a couple things.
We've invested a lot of money in a lot of our utility systems.
We mentioned that at Cheyenne we've invested a lot of money in our steam boiler system, in our plant air system.
That if gives project more than their fair share of headaches in the past.
We feel we've rectified those systems.
Once deals contribute to our own reliability in the future.
I think we also have increased focus.
We have increased staff and capability, as <UNK> mentioned earlier.
We've moved a couple of people around and got a guy from Navajo named <UNK> McKee to Dallas to help us with our reliability efforts.
So there's a huge human resource component to our improvement as well.
No.
We've got a good story to tell.
We've got our refinery's running well now, We've got a balance sheet that affords a significant amount of share repurchase.
We're very constructive about future prospects to the Company.
So I think that it's important that the market understands what we have going on internally.
We look forward to producing that plus some.
Thank you.
Thanks, everyone.
Thank you for joining us today.
Give a call to Investor Relations, we'll be here to answer any and all questions.
Otherwise, we look forward to sharing our next quarter results in August.
Have a great day.
