Payne Oil Company

Payne Oil was founded in 1946 and incorporated in 1947 with three equal partners: W.O. Payne, C.T. Isley and Ralph Payne, W.O.'s oldest son. W.O. Payne had been an oil delivery driver for sixteen years with Standard Oil immediately prior to his starting Payne Oil. At its beginnings, the company's primary function was delivery of home heating oil. Over time, the business evolved to include gasoline and diesel delivery and the company supplied eighteen dealer-operated service stations in Alamance County at the peak of service station saturation. Today, Payne Oil serves these markets with a gasoline transport and three oil trucks. Payne Oil Company signed its first contract to sell Phillips 66 branded gasoline in April, 1955 and exclusively sold Phillips 66 branded products at its convenience stores and service stations until 2007 when ConocoPhillips made the decision to pull out of North Carolina. W.O. Payne was known as 'Mr. 66' in the Burlington area until his death in 1993. The Phillips 66 shield is engraved on his headstone. Today the company markets Marathon Petroleum products. Phillips Petroleum encouraged Payne Oil to enter the LP gas business in the mid-fifties. Phillips built Payne Oil's first propane bulk plant in 1956 at the headquarters facility in Haw River. Payne Oil began its Payne Propane division by delivering 100 lb cylinders for cook stoves. Today, propane sales for residential home heating make up the majority of company revenues. Payne Propane serves these customers with four bulk plants, two propane transports, seven bobtails, three service trucks, a knuckleboom truck, two dump trucks and two backhoes for underground tank installation. The company has relationships with a number of builders and developers which generates most new business. Solicitations are not made of other company's existing customers. Raymond Payne is the President and CEO of Payne Oil Company taking over after his father's death. He is the fourth child of W.O. Payne. He joined the company in 1959 after serving in the Marines. Raymond's brother, James Payne, the fifth and last of W.O.'s children, is Vice-President and CFO. James joined Payne Oil with Raymond in 1959. He left to run his own service station in Graham from 1963 to 1981. He rejoined his brother at Payne Oil in 1981. The future is bright for Payne Oil Company. David Boyd, Raymond's son-in-law, joined Payne Oil in 2002. Together, Raymond, James and David and their twelve employees involved in oil and propane operations take each day as it comes enjoying helping keep their customers warm. The group is close and laughter is easy. Several employees have been with the company for more than twenty years.