Nelson Complexity is a means of assessing the cost and complexity of a refining operation, and assessing its value, and the potential value/margin of the refined products stream it can generate.
The complexity basis is the crude unit (aka atmospheric distillation unit, or topping unit), with a complexity factor of 1.0.
Additional capabilities like a vacuum unit, thermal units, etc., have higher complexity factors, which are additive - the higher the Nelson Index, the more complex and capable in general the refinery will be, and the higher its product stream value will be.
It is not a perfect measure for valuing a refinery, but it is a good start - it also factors in complexity as a measure of complexity/barrel, which is useful in comparing across different refinery operations.
An operation like BDOC's Nixon unit has a complexity index very near, if not 1.0 - it is likely possible to do a rough analysis of the Nixon unit from permit and other public documents to get a more accurate index. That value, combined with the known 15k bbl throughput would be a reasonable metric for BDCO's chances to do something like sell the operation at a profit.
Recent BDCO News
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 08:13:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/05/2024 10:22:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/05/2024 09:49:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 10:23:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/15/2023 02:09:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 07:26:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 05:45:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/10/2023 06:56:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2023 09:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/21/2023 11:15:12 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 09:05:56 PM
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