June 2007 -- On May 9, 2007, Frontier announced it had posted its most profitable quarter in the company's history. Net income was $74.7 million compared with the prior record first quarter net income of $57.4 million for the quarter ended March 31, 2006.
"We are pleased with the record quarterly results and are investing in our plants to improve our reliability, expand our capacity and improve our yields. We believe our current capital projects will help us achieve all of these goals. The second quarter is off to an excellent start, product margins have increased sharply thus far, particularly gasoline due to planned and unplanned refinery outages in our geographic markets," said CEO James Gibbs.
Founded as Wainoco Oil in 1949, Frontier Oil Corp. has evolved over the years from an oil and gas exploration company into a refining and marketing company serving the Rocky Mountain and Plains States regions.
