The company has reported revenues of $1.1 billion for the second quarter ended June 30, 2009, compared to $1.77 billion for the same quarter of 2008.

For the six months ended June 30, 2009, Frontier Oil has reported a net income of $123.3 million, or $1.18 per diluted share, compared to $105.3 million, or $1.02 per diluted share, for the comparable period of 2008. Year-to-date revenues were $1.95 billion, compared to $2.95 billion for the six months ended June 30, 2008.

Mike Jennings, president and CEO of Frontier Oil, said: "Challenges in the domestic refining sector persisted in the second quarter, as crude differentials continued to narrow and distillate demand weakened with a struggling US economy. Our strong balance sheet continues to provide us with flexibility during this down cycle.

"We have heightened our focus, particularly at the Cheyenne refinery, on reducing operating expenses and improving light product yields, and we continue to take advantage of opportunities in the crude and product markets as they become apparent."

A service of YellowBrix, Inc.