The Houston office is representing Tesoro Corporation in the acquisition of Great Northern Midstream LLC, a crude oil logistics provider owning and operating recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in North Dakota's Williston Basin. The transaction is expected to close in the first quarter of 2016. The transaction value was not disclosed.
Tesoro, a Fortune 100 company that refines and markets petroleum products, will acquire the 97-mile BakkenLink crude oil pipeline, which connects to several third-party gathering systems, and a proprietary 28-mile gathering system in the core of the Bakken supported by acreage dedication. In addition, the transaction includes a 154,000-barrel-per-day rail loading and a 657,000-barrel storage facility in North Dakota.
The team was led by Dan Mark and included Bobby Phillpott, Tony Shih, Scott Brown and Kelley McIlhattan (Houston).