Dec. 12, 2014, 4:38 PM
- QEP Midstream Partners (NYSE:QEPM) spiked higher into the close after a 13D filing disclosed that Tesoro (NYSE:TSO) had acquired a 56.9% active stake in the company.
- In the filing, Tesoro Logistics (NYSE:TLLP) proposes acquiring all outstanding units of QEPM not owned by QEPM or by QEP Field Services.
Oct. 20, 2014, 7:39 AM
- Tesoro Logistics (TLLP, TSO) agrees to acquire the natural gas pipeline and processing business owned by QEP Resources (NYSE:QEP) in a $2.5B deal.
- TLLP says the deal will expand its scope to include natural gas in addition to oil, as QEP owns gas processing plants and oil and gas pipelines in Wyoming, Colorado, Utah and North Dakota.
- To help pay for the deal, plans a public offering of 19.35M common units.
- QEP says selling the midstream business would improve its financial position and help it pay down debt, as well as improve its competitive position through increased capital investment in its E&P assets.
- Williams Cos. (NYSE:WMB) and Questar (NYSE:STR) reportedly had submitted bids for the assets.
Dec. 11, 2012, 5:27 PMTesoro Logistics (TLLP) agrees to acquire Chevron's (CVX) Northwest Products pipeline system for $400M. The pipeline receives product from five refineries and one pipeline in the Salt Lake City, Utah, area and is the primary transportation option to several other northwest U.S. areas. System delivery volumes averaged ~84K bbl/day in 2011. | 2 Comments
TLLP vs. ETF Alternatives
Tesoro Logistics LP was formed by Tesoro to own, operate, develop and acquire crude oil and refined products logistics assets. It is organized into the following two segments: Crude Oil Gathering segment & Terminalling, Transportation and Storage segment.
Other News & PR