Tesoro and Valero bright-spots on S&P500 Energy Index The outlook for the refining sector continues to be a bright spot in an otherwise gloomy outlook for the energy industry. While E&Ps look for the best ways to cut costs amid the continued low oil prices, refineries are enjoying stronger margins on cheaper feedstock. In August, gross inputs to U.S. refineries
Tesoro Logistics LP to Acquire Remaining Portion of QEP Midstream Partners, LP Tesoro Logistics LP (TLLP) (“TLLP”) and QEP Midstream Partners, LP (QEPM) (“QEPM”) today jointly announced the signing of a definitive merger agreement whereby TLLP will acquire QEPM in a unit-for-unit exchange. Under the terms of the merger agreement, QEPM public unitholders will receive 0.3088 TLLP common units for
On Sunday, October 19, 2014, Tesoro Logistics (ticker: TLLP) announced the acquisition of QEP Field Services in a deal equaling $2.5 billion. TLLP also acquires a 58% working interest in QEP Midstream Partners (ticker: QEPM), a wholly owned natural gas gathering and processing business of QEP Resources (ticker: QEP). The transaction is expected to close in Q4’14. Tesoro Logistics is
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