McGuireWoods lawyers advised Andeavor Logistics LP in its acquisition of $445
million in oil storage and terminal assets in Anacortes, Washington, from
affiliates of the refining company Andeavor. The deal closed Nov. 8.
The assets include tankage that can hold 3.9 million barrels of crude oil and
other storage for raw materials and refined products; a rail terminal and
certain connected rail lines; and pipelines for transferring crude oil, noncrude
materials, black oil and light petroleum products.
Since 2011, McGuireWoods lawyers have negotiated multiple asset acquisitions
for San Antonio-based Andeavor Logistics, formerly known as Tesoro Logistics.
They include the $444 million purchase of Alaska petroleum storage and terminal
assets from Tesoro Corp. in 2016 and the $2.5 billion acquisition of QEP
Resources Inc.’s natural gas pipeline and processing business in 2014.
Chicago partner Craig Culbertson and Pittsburgh partner Hannah Frank led a McGuireWoods deal team that included Chicago partner Yuan-Ying Hsu and associates David S. Wolpa and John B. Hoke in Charlotte and Maria Sasinoski in Pittsburgh.
“We are proud to have represented Andeavor Logistics in this significant
transaction, and we look forward to assisting the company in achieving its
business objectives in the future,” Culbertson said.
McGuireWoods ranked among the top 10 law firms in authoritative league tables
for the number of U.S. midmarket M&A deals it handled for clients during the
first nine months of 2017. The firm placed sixth in deal count for U.S.
transactions valued up to $500 million in Bloomberg’s Global M&A Mid-Market
Legal Advisory Rankings and seventh in the same category in Thomson Reuters’
Mid-Market M&A Legal Review.