U.S. Oil, which provides traditional fuel distribution solutions, and U.S. Gain, a company focused on alternative fuels and environmental credits, have formed a combined company: U.S. Energy.
U.S. Energy explained in a press release that the new entity is a vertically integrated energy solutions provider proficient in refined products, alternative fuels, and environmental credits. Its comprehensive portfolio of assets, paired with risk management, financial services, and advisory insights offer customers realistic, executable strategies that satisfy both their economic and environmental goals.
With offices in Wisconsin and Texas, U.S. Energy has more than 30 refined product terminals, including diesel, gasoline, natural gas liquids, ethanol, biodiesel, renewable diesel, compressed natural gas, renewable natural gas, electric charging solutions, hydrogen, and a variety of carbon credits.
A privately held, family-owned business, U.S. Energy is a U.S. Venture company. In a news release, it said it is committed to finding a better way to be the very best provider of transportation products, sustainability solutions, and insight driving the world forward.
U.S. Oil was most recently led by Eric Kessenich, who joined the company in 2010 and was promoted to president in 2017. Kessenich was further promoted to chief operating officer of U.S. Venture in August 2022. As chief operating officer, Kessenich will oversee the operations of all U.S. Venture companies, including U.S. Energy, U.S. AutoForce, U.S. Lubricants, Breakthrough, and IGEN.
“This reunion is an important milestone for our company. While our roots remain in the refined products side of our business, we recognize the need to offer a more diverse range of solutions under one brand as our customers’ needs evolve — ultimately becoming an energy-agnostic solutions provider,” said Kessenich. “With U.S. Oil’s tenure in refined products and U.S. Gain’s expertise in renewables, we knew we had an opportunity to service our customers with a more comprehensive offering and a streamlined experience.”
Mike Koel has been selected to lead U.S. Energy as its president.
Koel has been with U.S. Venture for more than 20 years — working within U.S. Oil as a trader, vice president of supply and trading, and vice president of business development.
In May 2017, Koel was named president of U.S. Gain, a Sustainable Energy Solutions company he founded within U.S. Oil in 2011. In his new role as president of U.S. Energy, Koel will be responsible for the company’s growth and expansion into new markets and technologies.
“Our vertical integration throughout the energy supply chain enables access to an array of solutions at a competitive price. As an energy developer, distributor, and marketer, we can ensure our customers are aware of risks and opportunities within the industry and benefit from our development of new technologies that integrate with our service offerings,” said Koel.
The U.S. Oil brand, formerly known as Schmidt Brothers Oil Company, dates to 1951, said John Schmidt, president and chief executive officer at U.S. Venture. The company was formed by his father and uncle. It provides fuel distribution solutions, including terminal assets, transportation logistics, supply trading, and wholesale fuel solutions,
“As market needs have shifted, so have our solutions — giving way to new portfolio offerings and additional business units. The U.S. Energy brand continues that legacy: putting our customers first alongside their unique energy needs,” Schmidt said.