M&A Deal Summary

Andeavor Acquires Flint Hills Resources - Marketing & Logistics Assets

On November 23, 2015, Andeavor acquired oil/gas exploration company Flint Hills Resources - Marketing & Logistics Assets from Flint Hills Resources

Acquisition Highlights
  • This is Andeavor’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Andeavor’s 2nd transaction in the United States.
  • This is Andeavor’s 1st transaction in Alaska.

M&A Deal Summary
Date 2015-11-23
Target Flint Hills Resources - Marketing & Logistics Assets
Sector Oil/Gas Exploration
Buyer(s) Andeavor
Sellers(s) Flint Hills Resources
Deal Type Divestiture

Target

Flint Hills Resources - Marketing & Logistics Assets

Alaska, United States
Flint Hills Resources - Marketing & Logistics Assets comprises wholesale fuel marketing contracts, storage terminals, and truck racks. The assets are located in the United States, an Anchorage terminal with 580,000 barrels of total in-service storage capacity, a truck rack, and rail loading capability and a Fairbanks airport terminal that includes 22,500 barrels of in-service jet fuel storage and truck rack.

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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 2 of 6
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 2 of 2
State (Alaska) 1 of 1
Country (United States) 2 of 6
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-30 Tesoro Alaska Pipeline

San Antonio,, Texas, United States

Tesoro Alaska Pipeline Co., LLC, which owns a refined products pipeline.

Sell $29M
FOLLOWING 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 -

Seller(S) 1

SELLER

Flint Hills Resources

Wichita, Kansas, United States
Category Company
Founded 2002
Sector Oil/Gas Exploration
DESCRIPTION

Flint Hills Resources is an independent refining, chemicals, and biofuels and ingredients company.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 2
State (Alaska) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-16 Flint Hills Resources Houston Chemical

Houston, Texas, United States

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 Flint Hills Resources - Chemicals Intermediates Business

Chicago, Illinois, United States

Flint Hills Resources' chemicals intermediates business comprises of production facilities making purified Isophthalic acid (PIA), trimellitic anhydride (TMA) and maleic anhydride (MAN) located near Chicago, Illinois. It also has offices and distribution operations at various locations in the USA, Europe and Asia.

Sell -
Mergr

Product

Company

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