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Profile: Tesoro Logistics LP (TLLP.K)

TLLP.K on New York Consolidated

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24 Mar 2017
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Tesoro Logistics LP (TLLP), incorporated on December 3, 2010, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region. Its Processing segment consists of the Vermillion processing complex, the Uinta Basin processing complex, the Blacks Fork processing complex and the Emigrant Trail processing complex. Its Terminalling and Transportation segment consists of the Northwest Products Pipeline, which includes a regulated common carrier products; a regulated common carrier refined products pipeline system connecting Tesoro Corporation's (Tesoro's) Kenai refinery to Anchorage, Alaska, and crude oil and refined products terminals and storage facilities in the western and midwestern United States; marine terminals in California; a petroleum coke handling and storage facility in Los Angeles, and other pipelines.

The Company owns and operates networks of crude oil, refined products and natural gas pipelines, terminals with dedicated and non-dedicated storage capacity for crude oil and refined products, rail facilities with loading and off-loading capabilities, marine terminals, a trucking fleet, natural gas processing and fractionation complexes. The Company's general partner Tesoro Logistics GP, LLC (TLGP), is a subsidiary of Tesoro. TLGP owns, operates, develops and acquires logistics assets. As of December 31, 2016, the North Dakota Gathering and Processing Assets included over 650 miles of crude oil, natural gas, and produced water gathering pipelines, 170 million cubic feet (MMcf) per day of natural gas processing capacity and 18.7 thousand barrels per day (Mbpd) of fractionation capacity in the Sanish and Pronghorn fields of the Williston Basin in North Dakota.

Gathering

The Company's gathering systems include crude oil, natural gas and water pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana (the Bakken Region) and the Green River Basin, Vermillion Basin and Uinta Basin in the states of Utah, Colorado and Wyoming, including a common carrier crude oil gathering and transportation system in North Dakota and Montana (the High Plains System); North Dakota Gathering Systems, which consists of a crude oil and natural gas gathering system located in and around the Williston Basin; Uinta Basin Gathering System, which consists of natural gas gathering systems and compression assets located in northeastern Utah; Green River System, consisting of an integrated natural gas gathering and transportation system; Vermillion Gathering System, which consists of natural gas gathering and compression assets located in Southern Wyoming, northwest Colorado and northeast Utah, and certain equity method investments. Its certain equity method investments that contribute to its gathering systems, including investments in Rendezvous Gas Services, L.L.C. (RGS), which operates the infrastructure that transports gas from certain fields to various re-delivery points, including natural gas processing facilities; Three Rivers Gathering, LLC, which transports natural gas to its natural gas processing facilities in the Uinta Basin, and Uintah Basin Field Services, L.L.C., which operates gathering pipeline and gas compression assets located in the southeastern Uinta Basin.

The Company owns and operates a common carrier crude oil gathering and transportation system consisting of common carrier pipelines in North Dakota and Montana (the High Plains Pipeline), which gathers and transports crude oil into regional takeaway pipelines and refining centers including Tesoro's North Dakota refinery in Mandan. The Company transports crude oil processed at Tesoro's Mandan refinery via the High Plains System. In addition, it owns and operates a truck-based crude oil gathering operation. The North Dakota Gathering Systems are crude oil, natural gas and produced water gathering systems located in and around the Williston Basin in McLean County, North Dakota, including the North Dakota Gathering and Processing Assets. The Uinta Basin Gathering System consists of natural gas gathering systems and compression assets located in northeast Utah, which include low-pressure natural gas gathering pipeline and compression. As of December 31, 2016, the Green River System, located in western Wyoming, consisted of three integrated assets: the Green River Gathering Assets, the assets owned by Rendezvous Pipeline Company, LLC (Rendezvous Pipeline) and assets owned by RGS. The Vermillion Gathering System consists of gas gathering and compression assets located in southern Wyoming, northwest Colorado and northeast Utah.

Processing

The Company's Processing segment consists of the Vermillion processing complex (Vermillion Complex), the Uinta Basin processing complex (Uinta Basin Complex), the Blacks Fork processing complex (Blacks Fork Complex), the Emigrant Trail processing complex (Emigrant Trail Complex), as well as the Robinson Lake processing complex (Robinson Lake Complex) and the Belfield processing complex (Belfield Complex). As of December 31, 2016, the Vermillion Complex, which is located in Sweetwater County, Wyoming, consisted of two processing trains; Uinta Basin Complex, which is located in Uintah County, Utah, consisted of five separate processing trains with raw gas inlet processing capacity; the Blacks Fork Complex, which is located in Sweetwater and Uinta Counties, Wyoming, consisted of three separate gas processing trains and a natural gas liquids (NGLs) fractionation facility; the Emigrant Trail Complex, which is located in Uinta County, Wyoming, consisted of one cryogenic gas processing train; the Robinson Lake Complex, which is located in Montrail County, North Dakota, consisted of compression units, propane refrigeration plants and a fractionation plant; the Belfield Complex, which is located in Billings, Dun and Stark Counties, North Dakota, consisted of compression units, propane refrigeration plants and a fractionation plant.

Terminalling and Transportation

The California marine terminals support Tesoro's Los Angeles refinery, Tesoro's Martinez refinery and third parties. As of December 31, 2016, the Los Angeles marine terminals consisted of three marine terminals and a marine storage facility. The Company owns and operates terminals and storage facilities in California. In addition, it operates a refined products terminal in Stockton. It owns and operates a terminal located at Tesoro's Martinez refinery that includes a refined products truck rack, a NGLs truck facility and a NGLs rail loading and unloading facility. It owns and operates a refined products terminal adjacent to Tesoro's Utah refinery. As of December 31, 2016, it also owned and operated a crude oil and refined products storage facility in Salt Lake City with 878,000 barrels of storage capacity. It owns and operates a coke handling and storage facility adjacent to Tesoro's Los Angeles refinery. It owns and operates terminals in Idaho, including terminals located in Boise, Pocatello and Burley. As of December 31, 2016, its Washington terminals consisted of three terminals located in Vancouver, Pasco and Anacortes. It owns and operates a refined products terminal located at Tesoro's Mandan refinery. As of December 31, 2016, its Alaska terminals consisted of five terminals located in Anchorage and Nikiski.

The Company owns and operates the Northwest Products Pipeline, a common carrier refined products pipeline that is the primary transportation option from Salt Lake City to Idaho and eastern Washington, a refined products pipeline connecting Tesoro's Kenai refinery to Anchorage, Alaska and a southern California transportation pipeline system. It also owns a range of pipelines in Salt Lake City and Los Angeles that transport a range of products between various facilities, including Tesoro's refineries, and other owned and third-party terminals and pipelines.

Company Address

Tesoro Logistics LP

19100 Ridgewood Pkwy
SAN ANTONIO   TX   78259-1834
P: +1210.6266000
F: +1302.6365454

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