Stripes LLC, a subsidiary of Susser Holdings Corp. (NasdaqGS: SUSS), is partnering with Houston-based Apache Corporation (NYSE: APA) to add natural gas fueling dispensers at selected Stripes® convenience store locations. Initially, compressed natural gas fueling capability will be available at two Stripes locations in the Midland, Texas, area.
The first two Stripes facilities to offer CNG are located in Midland at:
• 3201 East Highway 158, which is expected to be operational by the end of November.
• 4508 N. Big Spring St., which is expected to be operational by the end of December.
Compressed natural gas is currently priced 30% to 40% lower than gasoline or diesel on a gallon-equivalent basis, which could mean big savings at the pump. According to industry experts, natural gas is kinder to the environment by reducing vehicle exhaust emissions, and because of abundant natural gas reserves in the U.S., it represents a more secure American energy supply. According to the Department of Energy Clean Cities Alternative Fuel Pricing Report and the Institute of Energy Research, known domestic resources could satisfy the nation's needs for more than 100 years.
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