Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Mon., Apr. 29, 7:39 PM
Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.
Slide #69. Tesoro Logistics — First Portion of Carson Logistics Assets from Tesoro Corporation
Acquirer: |
Tesoro Logistics (TLLP) |
Acquiree: |
First Portion of Carson Logistics Assets from Tesoro Corporation |
Details: |
Tesoro Logistics LP (NYSE:TLLP) (the "Partnership" or "TLLP") today announced that the Partnership has closed the acquisition of the first portion of logistics assets associated with purchase of the BP Southern California Refining and Marketing business ("Carson") by Tesoro Corporation's subsidiary, Tesoro Refining & Marketing Company LLC ("Tesoro"), for total consideration of $640 million. The assets, with expected annual EBITDA of $60 million to $65 million, include six marketing and storage terminal facilities with a total combined throughput capacity of about 225 thousand barrels per day and approximately 6.4 million barrels of total storage capacity. |
Tesoro Logistics is a limited partnership that owns, operates, develops and acquires logistics assets. Co.'s logistics assets are used to gather crude oil and to distribute, transport and store crude oil and refined products. Co.'s business operates in three segments: Gathering, which includes crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area, Green River Basin, Uinta Basin, and Vermillion Basin; Processing, which consists of gas processing and fractionation complexes; as well as Terminalling and Transportation, which consisits of regulated common carrier products pipeline, storage facilities, marine terminals, and other facilities.
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April 29, 2024 7:39 PM Eastern
Buy (3.41 out of 4)
100th percentile
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