M&A Deal Summary

Andeavor Acquires Atlantic Richfield Company

On August 13, 2012, Andeavor acquired oil/gas exploration company Atlantic Richfield Company from BP for 2.5B USD

Acquisition Highlights
  • This is Andeavor’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Andeavor’s 2nd largest (disclosed) transaction.
  • This is Andeavor’s 1st transaction in the United States.
  • This is Andeavor’s 1st transaction in California.

M&A Deal Summary
Date 2012-08-13
Target Atlantic Richfield Company
Sector Oil/Gas Exploration
Buyer(s) Andeavor
Sellers(s) BP
Deal Type Divestiture
Deal Value 2.5B USD

Target

Atlantic Richfield Company

La Palma, California, United States
Atlantic Richfield Company (ARCO) is an American oil/gas company serving the Western United States.

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Buyer(S) 1

Buyer

Andeavor

San Antonio, Texas, United States
Category Company
Founded 1968
Sector Energy Services and Equipment
Employees6,000
Revenue 34.2B USD (2017)
DESCRIPTION
Tesoro's corporate headquarters in San Antonio, Texas.
Tesoro's corporate headquarters in San Antonio, Texas.

Andeavor is a refiner and marketer of petroleum products. Andeavor operates six refineries in the western United States with a combined capacity of 850,000 barrels per day. Andeavor was founded in 1968 and is based in San Antonio, Texas.

DEAL STATS #
Overall 1 of 6
Sector (Oil/Gas Exploration) 1 of 3
Type (Divestiture) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 6
Year (2012) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-05 Andeavor Logistics

Findlay, Ohio, United States

Andeavor Logistics LP is a fee-based, full-service, diversified midstream logistics company, with integrated assets across the western and mid-continent regions of the United States. Andeavor Logistics operates through three business segments: Terminalling and Transportation, Gathering and Processing and Wholesale. Andeavor Logistics LP was founded in 2010 and is based in Findlay, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-15 Tesoro Refining & Marketing

San Antonio,, Texas, United States

Tesoro Refining & Marketing Company LLC offers refining and marketing of motor fuels and petroleum products.

Sell $180M

Seller(S) 1

SELLER

BP

London, United Kingdom
Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees87,800
Revenue 210.1B USD (2023)
DESCRIPTION
BP fuel station in Duluth, Minnesota.
BP fuel station in Duluth, Minnesota.

BP is an integrated oil and gas company with operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. BP provides customers with fuel for transportation, energy for heat and light, lubricants, and petrochemicals products used to make items as diverse as paints, clothes and packaging. BP was founded in 1908 and is based in London, England.

DEAL STATS #
Overall 6 of 16
Sector (Oil/Gas Exploration) 2 of 8
Type (Divestiture) 5 of 9
State (California) 2 of 2
Country (United States) 4 of 10
Year (2012) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-11 Companhia Nacional de Açúcar e Álcool

Ribeirao Preto, Brazil

Companhia Nacional de Açúcar e Álcool (“CNAA”) is a joint venture with Santa Elisa and Global Foods, formed to build and operate four high-efficiency greenfield sugar and ethanol production facilities with a planned capacity of 20 million tons of crushed cane per year.

Buy $680M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-04 BP Polish LPG business

Poland

BP’s Polish LPG business distributed over 150 million gallons of LPG in 2012 serving the residential, commercial, autogas, and wholesale segments.

Sell -
Mergr

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