Tesoro Corporation and Tesoro Logistics LP Become Andeavor and Andeavor Logistics LP
01 August 2017 - 10:00PM
SAN ANTONIO - August 1, 2017 - Tesoro Corporation
and Tesoro Logistics LP today announced that the Companies changed
their names to Andeavor (NYSE: ANDV) and Andeavor Logistics LP
(NYSE: ANDX). The Companies will begin trading under their new
ticker symbols upon today's opening of the New York Stock Exchange
(NYSE). The Companies' previous ticker symbols, TSO and TLLP, have
been retired.
"Our name change to Andeavor acknowledges the
significant progress we have made in transforming the Company over
the last several years and the opportunities we see ahead," said
Greg Goff, Chairman, President and CEO of Andeavor. "Through strong
execution, financial discipline, strategic growth and the
remarkable commitment of our employees, we have continually created
significant value for our stakeholders."
To mark the name changes, members of the
Companies' executive management are ringing today's opening bell at
the NYSE.
"While our name has changed, the same strategic
priorities and guiding principles that enabled us to reach this
important milestone today will continue to serve as the foundation
for how we conduct business in the future," Goff said. "We will
continue to focus on optimizing our highly integrated marketing,
logistics and refining system, caring for the communities where we
operate, aiming to achieve the best safety and environmental
performance in the industry and investing in our people."
Learn more about Andeavor and Andeavor Logistics LP at
www.andeavor.com and www.andeavorlogistics.com.
ABOUT ANDEAVOR
Andeavor is a premier, highly integrated marketing, logistics and
refining company. Andeavor's retail-marketing system includes more
than 3,200 retail stations marketed under multiple well-known fuel
brands, including ARCO®, SUPERAMERICA®, Shell®, Exxon®, Mobil®,
Tesoro®, USA Gasoline(TM) and Giant®. It also has ownership in two
logistics businesses, which include Andeavor Logistics LP and
Western Refining Logistics, LP (NYSE: WNRL) and ownership of their
general partners. Andeavor operates 10 refineries with a combined
capacity of approximately 1.2 million barrels per day in the
mid-continent and western United States.
ABOUT ANDEAVOR LOGISTICS LP
Andeavor Logistics LP is a leading full-service logistics company
operating primarily in the western and midcontinent regions of the
United States. Andeavor Logistics owns and operates a network of
crude oil, refined products and natural gas pipelines. Andeavor
Logistics also owns and operates crude oil and refined products
truck terminals, marine terminals and dedicated storage facilities.
In addition, Andeavor Logistics owns and operates natural gas
processing and fractionation complexes. Andeavor Logistics is a
fee-based, growth oriented Delaware limited partnership formed by
Andeavor and is headquartered in San Antonio, Texas.
Contact:
Investors:
Andeavor: Brian Randecker, Investor Relations, (210) 626-4757
Andeavor Logistics LP: Andrew Woodward, Sr.
Director, Finance and Investor Relations, (210) 626-7202
Media:
Andeavor Media Relations, media@andeavor.com, (210) 626-7702
FORWARD LOOKING
STATEMENTS
This release contains "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including
without limitation statements concerning: the Companies'
operational, financial and growth strategies, including strong
execution, financial discipline, strategic growth, integrated
system optimization, and investing in people and assets; the
Companies' ability to successfully effect those strategies and the
expected results thereof; future opportunities and the Companies'
ability to capitalize on them; the Companies' ability to create
value for their stakeholders; and statements regarding the
Companies' safety and environmental performance. For more
information concerning factors that could affect these statements,
see the Companies' annual reports on Form 10-K, quarterly reports
on Form 10-Q, and other public filings and press releases,
available at www.andeavor.com and
www.andeavorlogistics.com. The Companies undertake
no obligation to revise or update any forward-looking statements as
a result of new information, future events or otherwise.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Tesoro Corporation via Globenewswire
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