Tesoro Corp. closed the acquisition of Great Northern Midstream LLC, the company said Jan. 11. The financial details of the transaction will remain confidential, the company added.
Great Northern Midstream owns and operates recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in the Williston Basin in North Dakota.
The transaction was announced Dec. 8, 2015. It included the 97-mile BakkenLink crude oil pipeline, which connects to several third-party gathering systems; a proprietary 28-mile gathering system in the core of the Bakken, supported by acreage dedication; a 154,000 barrel per day (bbl/d) rail loading and a 657Mbbl storage facility in Fryburg, N.D., which can provide outbound deliveries to the West, East and Gulf coasts.
Greg Goff, chairman, president and CEO, said the assets bolster the company’s capability to provide full-service logistics to North Dakota crude producers. Tesoro will gain direct access to additional crude for its West Coast refineries.
Tesoro Corp. is based in San Antonio.
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