M&A Deal Summary

Andeavor Acquires Dakota Prairie Refining

On June 28, 2016, Andeavor acquired oil/gas exploration company Dakota Prairie Refining

Acquisition Highlights
  • This is Andeavor’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Andeavor’s 4th transaction in the United States.
  • This is Andeavor’s 1st transaction in North Dakota.

M&A Deal Summary
Date 2016-06-28
Target Dakota Prairie Refining
Sector Oil/Gas Exploration
Buyer(s) Andeavor
Deal Type Add-on Acquisition

Target

Dakota Prairie Refining

Dickinson, North Dakota, United States
Dakota Prairie Refining LLC which owns a refinery near Dickinson, North Dakota, with strategic access to advantaged Bakken crude oil and is located just 100 miles west of the Tesoro Mandan Refinery. DPR's refinery has a crude oil capacity of 20 thousand barrels per day and produces ultra-low sulfur diesel, naphtha and resid. Tesoro plans to continue to market the ultra-low sulfur diesel to local customers and utilize the naphtha and resid in its integrated value chain system.

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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 4 of 6
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 4
State (North Dakota) 1 of 1
Country (United States) 4 of 6
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 Great Northern Midstream

Houston, Texas, United States

Great Northern Midstream LLC is a crude oil logistics provider. It owns and operates a pipeline, terminals, and related infrastructure in the Williston Basin, as well as provides liquid gathering and marketing services for oil production from the Bakken/Three Forks formations in North Dakota and certain horizons in West Texas. Great Northern Midstream is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-01 Tesoro Corp - Alaska Storage and Terminalling Assets

United States

Tesoro Corp - Alaska Storage and Terminalling Assets include Storage: Crude oil, feedstock and refined product storage tanks with combined capacity of approximately 3.5 million barrels in Kenai, Alaska, with connectivity with TLLP's Tesoro Alaska Pipeline and Nikiski Products Terminal and Tesoro's Kenai Refinery. Terminals include Refined product terminals in Anchorage and Fairbanks with combined storage capacity of over 600,000 barrels, expected throughput of 10,400 barrels per day and rail loading of 7,000 barrels per day

Sell $444M
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