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Western Refining Logistics Closes Acquisition of Midstream Assets

Western Refining Logistics, September 20, 2016

Western Refining Logistics, LP (WNRL) announced that it has closed the previously announced acquisition of certain terminalling, storage and other logistics assets from St. Paul Park Refining Co. LLC (SPPR). The logistics assets acquired by WNRL included approximately four million barrels of refined product and crude oil storage tanks, a light products terminal, a heavy products loading rack, certain rail and barge facilities, certain other related logistics assets, and two crude oil pipeline segments and one pipeline segment not currently in service, each of which is approximately 2.5 miles and extends from SPPR's refinery in St. Paul Park, Minnesota to SPPR's tank farm in Cottage Grove, Minnesota. The cash consideration for the transaction was funded with approximately $151 million of net proceeds from WNRL's recently closed public equity offering and approximately $44 million in borrowings under WNRL's revolving credit facility.


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