Tesoro Logistics LP -  Completion of Acquisition Or Disposition of Assets.

Source Press Release
Company Andeavor Logistics LPMDU Resources GroupWhiting Petroleum Corporation 
Tags Asset Deals, Deals, LNG & Gas Storage/Processing
Date January 01, 2017

As previously reported on November 21, 2016, our subsidiary, QEP Field Services, LLC ("QEPFS"), entered into (1) a purchase and sale agreement with Whitng Oil & Gas Corporaton ("Whitng") and GBK Investments, L.L.C. ("GBK") for the purchase of certain gas processing and gathering facilites located in Mountrail County, North Dakota and owned by Whitng and GBK (the "Robinson Lake Purchase Agreement"), (2) a purchase and sale agreement with Whitng and WBI Energy Midstream, LLC ("WBI"), a subsidiary of MDU Resources Group, Inc., for the purchase of certain natural gas processing and oil and gas gathering facilites located in Billings, Dunn and Stark Countes, North Dakota and owned by Whitng and WBI (the "Belfield Purchase Agreement"), and (3) a purchase and sale agreement with Whitng for the purchase of certain water gathering facilites located in Billings, Dunn and Stark Countes, North Dakota and owned by Whitng (together with the Robinson Lake Purchase Agreement and the Belfield Purchase Agreement, the "Whitng Purchase Agreements"). The Whitng Purchase Agreements are incorporated herein by reference to Exhibits 2.1, 2.2 and 2.3 to our Current Report on Form 8-K filed on November 21, 2016.

On January 1, 2017, we completed the acquisiton contemplated by the Whitng Purchase Agreements for an aggregate purchase price of $700 million. We funded the purchase price with a combination of cash on hand and borrowings under our secured revolving credit facility

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