Williams Energy Partners to acquire refined petroleum products pipeline


TULSA, Okla., Aug. 28, 2002 -- Williams Energy Partners L.P. announced recently that it has signed an agreement to acquire a refined petroleum products pipeline system from Tesoro Petroleum Corp. for $110 million.

The acquisition is expected to close during mid-October, pending approval from appropriate regulatory agencies.


The 430-mile pipeline system extends from Tesoro's refinery at Mandan, N.D., to Minneapolis, Minn., and includes four terminals. The pipeline system is expected to generate approximately $15 million per year of earnings before interest, taxes, depreciation and amortization, and is expected to be immediately accretive to per unit cash flows.

"This asset is an excellent strategic fit with our Williams Pipe Line system and provides the partnership with additional stable, fee-based revenues," said Don Wellendorf, chief executive officer. "Its location is complementary to our current northern tier assets, allowing us to better serve our existing customers and Tesoro through improved service offerings."

Williams Energy Partners management will discuss the acquisition during an analyst conference call at 10 a.m. Eastern recently. To participate in the conference call, dial (800) 238-9007 and provide code 422373. International callers should dial (719) 457-2622 and provide the same code.

Audio replays of the conference call will be available from 1 p.m. Eastern on Aug. 26 through midnight on Sept. 2. To access the replay, dial (888) 203-1112. International callers should dial (719) 457-0820. The access replay code is 422373.

About Williams Energy Partners L.P.

Williams Energy Partners L.P. was formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products and ammonia. The general partner of WEG is a unit of Williams, which moves, manages and markets a variety of energy products, including natural gas, liquid hydrocarbons, petroleum and electricity.

Source: Williams Energy Partners L.P.


Sponsored by FLSmidth

Related Articles

PSEG Solar to acquire Maryland solar project from juwi

PSEG Solar Source will acquire a 12.9-MW solar energy facility near Waldorf, Maryland from juwi solar (JSI). The PSEG Waldorf Solar Energy Center will increase the capacity of PSEG Solar Source's portfolio to 123-MW.

Video: Duke Energy acquires Halifax Solar Project in North Carolina

Duke Energy Renewables (NYSE: DUK) has acquired a 20-MW solar project in Roanoke Rapids, North Carolina, from Geenex and ET Solar Energy Corp.

Follow Power Engineering on Twitter

Latest News

 GE gas engine achieves more than 50% efficiency

GE gas engine achieves more than 50% efficiency

GE (NYSE: GE) Power & Water’s Distributed Power business said the company achieved more t...
 Wärtsilä to deliver Smart Power Generation plant to Kansas municipal utility

Wärtsilä to deliver Smart Power Generation plant to Kansas municipal utility

Wärtsilä has been awarded a contract to supply a 56-MW Smart Power Generation power plant to ...
03/04 Henry Hub Average Natural Gas Spot Prices

03/04 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...

MHPS to deliver supercritical-pressure coal-fired boilers to Tanda Power Plant

L&T-MHPS Boilers Private Ltd., a joint venture between Mitsubishi Hitachi Power Systems L...

SwRI receives $9.9Mn from DOE to improve solar plant efficiency

Southwest Research Institute (SwRI) has been awarded $4.9 million by the U.S. Department of E...
 Westinghouse says nuclear fuel performed flawlessly in Ukraine reactor

Westinghouse says nuclear fuel performed flawlessly in Ukraine reactor

Westinghouse Electric said its nuclear fuel “performed flawlessly” at a nuclear power plant i...

Public to weigh in on plan to close part of coal-fired plant

New Mexico regulators are set to take testimony on a plan by the state's largest electric pro...

Weekly Coal Production Report

The Weekly Coal Production Report has been updated for the week ended February 28, 2015.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Power Industry Wire News

Walter Energy Notified by NYSE of Non-Compliance With a Continued Listing Standard

Walter Energy Notified by NYSE of Non-Compliance With a Continued Listing Standard

More Than 50 U.S. Utilities to Attend 12th-Annual ARCOS Conference for Crew Callout and Crew Management

More Than 50 U.S. Utilities to Attend 12th-Annual ARCOS Conference for Crew Callout and...

Vivakor Acquires Land Lease in Asphalt Ridge Area in Vernal, Utah for Oil Extraction Technology Operation

Vivakor Acquires Land Lease in Asphalt Ridge Area in Vernal, Utah for Oil Extraction Te...

Envision Solar Announces First Sale of Solar Powered EV Chargers in the Caribbean

Envision Solar Announces First Sale of Solar Powered EV Chargers in the Caribbean

Easi-Set Precast Products Ideal Solution for Military Market

Easi-Set Precast Products Ideal Solution for Military Market

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>