M&A Deal Summary

Andeavor Logistics Acquires QEP Field Services

On December 2, 2014, Andeavor Logistics acquired oil/gas exploration company QEP Field Services from QEP Resources for 2.5B USD

Acquisition Highlights
  • This is Andeavor Logistics’ 4th transaction in the Oil/Gas Exploration sector.
  • This is Andeavor Logistics’ largest (disclosed) transaction.
  • This is Andeavor Logistics’ 4th transaction in the United States.
  • This is Andeavor Logistics’ 1st transaction in Utah.

M&A Deal Summary
Date 2014-12-02
Target QEP Field Services
Sector Oil/Gas Exploration
Buyer(s) Andeavor Logistics
Sellers(s) QEP Resources
Deal Type Divestiture
Deal Value 2.5B USD

Target

QEP Field Services

Salt Lake City, Utah, United States
QEP Field Services Co. provides natural gas gathering, processing, treating, and transportation services.

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Buyer(S) 1

Buyer

Andeavor Logistics

Findlay, Ohio, United States
Category Company
Founded 2010
Sector Transportation
Revenue 2.4B USD (2018)
DESCRIPTION

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.

DEAL STATS #
Overall 4 of 6
Sector (Oil/Gas Exploration) 4 of 6
Type (Divestiture) 4 of 5
State (Utah) 1 of 1
Country (United States) 4 of 6
Year (2014) 2 of 2
Size (of disclosed) 1 of 5
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.

Buy $29M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-06 QEP Midstream Partners

San Antonio,, Texas, United States

QEP Midstream Partners, LP is a master limited partnership that was formed to own, operate, acquire and develop midstream assets. QEPM provides midstream gathering and processing services to companies in the Green River, Uinta and Williston basins.

Buy -

Seller(S) 1

SELLER

QEP Resources

Denver, Colorado, United States
Category Company
Founded 2010
Sector Oil/Gas Exploration
Employees248
Revenue 1.2B USD (2019)
DESCRIPTION

QEP Resources, Inc. is an independent crude oil and natural gas exploration and production company focused in two regions of the United States: the Southern Region (primarily in Texas) and the Northern Region (primarily in North Dakota). QEP Resources was founded in 2010 and is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 3
Type (Divestiture) 1 of 3
State (Utah) 1 of 1
Country (United States) 1 of 3
Year (2014) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 Oil and Gas Properties

United States

The properties, which are located in the Midland sub-basin, primarily in Martin and Andrews counties in west Texas, net production of approximately 6,700 barrels of oil equivalent per day.

Buy $950M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 QEP Resources - Pinedale Assets

Denver, Colorado, United States

QEP Resources, Inc. - Pinedale Assets generates 234 MMcfed of net production from over 1,100 producing wells during the first quarter of 2017 and include an extensive inventory of low-risk vertical drilling locations. The assets also include significant acreage prospective in the emerging horizontal Lance and deep Hilliard plays.

Sell $740M
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