It seems I've seen this story before and I thought I had posted it, but cannot find it on the blog, so I must be mistaken. Regardless,
from Bloomberg via Bakken.com:
Tesoro Logistics LP has acquired a natural-gas pipeline and
processing business from QEP Resources Inc.
The $2.5 billion dollar deal
will expand Tesoro’s presence
in the Bakken area significantly.
Tesoro stated Sunday that this deal
adds over 2,000 miles of pipeline capable of moving 2.9 billion cubic
feet of gas per day or 54,000 barrels of oil.
In June, QEP stated that it would be focusing more on exploration and
production in the energy industry rather than processing and
transportation.
Post-acquisition, Tesoro now owns a 58 percent stake in
the QEP Midstream Partners LP stock.
QEP plans to focus primarily on
the Williston and Permian basins and hopes to expand production following this transaction.
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