Andeavor Completes Asphalt Terminals Acquisition

SAN ANTONIO, TEXAS - May 21, 2018- Andeavor (NYSE: ANDV) today announced that it has completed the acquisition of the West Coast asphalt terminals of Delek US Holdings, Inc. (NYSE: DK) for a total consideration of $75 million, plus working capital. The assets, formerly the Alon Asphalt Company,...

London, 21/05/2018 (informazione.news - comunicati stampa - energia)

- Andeavor (NYSE: ANDV) today announced that it has completed the acquisition of the West Coast asphalt terminals of Delek US Holdings, Inc. (NYSE: DK) for a total consideration of $75 million, plus working capital. The assets, formerly the Alon Asphalt Company, include four wholly-owned terminals in Elk Grove, CA; Bakersfield, CA; Mojave, CA; and Phoenix, AZ; as well as 50 percent interest in the Paramount Nevada Asphalt Company joint venture terminal in Fernley, NV.

"This acquisition highlights our strategy of strengthening our integrated business model, allows for additional growth and enhances our refining margin capture," said Greg Goff, Chairman, President and CEO. "With a total asphalt capacity of more than 430,000 tons across ten terminals, we are well positioned to improve the value of heavy resid produced at our refineries ahead of IMO 2020 bunker fuel specification changes."

Andeavor is a premier, highly integrated marketing, logistics and refining company. Andeavor's retail-marketing system includes approximately 3,300 stores marketed under multiple well-known fuel brands, including ARCO®, SUPERAMERICA®, Shell®, Exxon(TM), Mobil(TM), Tesoro®, USA Gasoline(TM) and Giant®. It also has ownership in Andeavor Logistics LP (NYSE: ANDX) and its non-economic general partner. Andeavor operates 10 refineries with a combined capacity of approximately 1.2 million barrels per day in the mid-continent and western United States.

www.andeavor.com

Andeavor Investors:
Brad Troutman, Vice President, Investor Relations, (210) 626-4757

Media:
Andeavor Media Relations, media@andeavor.com, (210) 626-7702