Andeavor Logistics has plans to buy rival Western Logistics in a $1.5 billion stock deal.
Andeavor Logistics will also take on $310 million in debt from Western, valuing the overall deal at approximately $1.8 billion.
The acquisition is part of Andeavor Logistics’ efforts to expand into the prolific Permian Basin in Texas and New Mexico.
The transaction is expected to be completed in the fourth quarter 2017.
And Andeavor Logistics is constructing a $225 million, 250,000-barrel-per-day crude oil pipeline in West Texas’ Delaware Basin. The 130-mile Conan Crude Oil Pipeline System was originally proposed by Western Refining.
Operating mainly in the mid-continent and western United States, Andeavor Logistics owns and operates a network of crude oil, refined products and natural gas pipelines. It also owns and operates crude oil and refined products truck terminals, marine terminals and dedicated storage facilities.
