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Calumet Provides Operational Update

INDIANAPOLIS, Oct. 20, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "Company," "we," "our" or "us"), provided an operational update for the 3rd quarter 2023. 

As previously disclosed, Montana Renewables, LLC ("MRL") identified a leak in the steam recovery system within its renewable hydrogen plant during the third quarter.  After entering the unit, the company decided to replace the steam drum rather than repair it.  The replacement is expected to be completed in November.  Given the additional time, MRL will opportunistically pull forward its regularly scheduled turnaround into November, which was previously scheduled for early 2024.  The facility is expected to continue to operate at reduced throughput until the turnaround begins.  Upon scheduled completion, MRL expects to process over 12,000 barrels per day of predominantly untreated feed in December and continues to expect $1.25-1.45/gal of Adjusted EBITDA on untreated feed.

Additionally, our Shreveport facility required maintenance during the quarter that resulted in a loss of approximately 300,000 barrels of lube oil and wax sales.  The maintenance has been completed, and the facility is currently processing over 45,000 barrels per day of feed. 

About Calumet
Calumet manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.

About Montana Renewables
Montana Renewables, LLC is an unrestricted subsidiary of Calumet located in Great Falls, MT. Montana Renewables is permitted to pretreat and convert 15,000 barrels per stream day ("bpsd"; permit capacity) of renewable feedstocks into low-emission sustainable alternatives that directly replace fossil fuel products. MRL is a leader in North America's energy transition and the largest Sustainable Aviation Fuel producer in the western hemisphere.  The renewable fuel products produced by Montana Renewables are distributed into renewable markets in the western half of North America.


SOURCE Calumet Specialty Products Partners, L.P.

For further information: Public Relations Contact: Media Oakes, 317-957-5319; Investor Relations Contact: Brad McMurray, 317-957-5378