ARDMORE, Okla. -- The Valero Oil Refinery, a major part of the Ardmore community for years, may be looking to sell out and leave town.
On Thursday, Valero executives told their Ardmore employees that change could be in the air, and the Ardmore facility's role within the company is now under scrutiny.
Valero is calling it a “strategic asset review,” meaning that several options are on the table. Company officials say some of those options could mean the Ardmore refinery might be sold or possibly even traded to another company with interests in the oil business.
Company officials did stress that there are no plans to close the refinery and that it would seem very unlikely that any jobs would be cut.
"If we sell the plant, we're going to sell it to a buyer who is very interested in running that plant and making it better," Valero spokesman Bill Day said.
Oklahoma State Representative Greg Piatt says a potential sale would be a substantial change to southern Oklahoma’s corporate landscape.
"We hope that whoever purchases the refinery maybe could double it in size, add new employees, but Valero has been a tremendous corporate citizen for southern Oklahoma, and they will be missed," Rep. Piatt (R) said.
Valero says about 250 people work at the Ardmore facility. Valero is the largest crude oil refining company in the United States. The Ardmore facility reportedly produces almost 90,000 barrels a day.