Andeavor Expands Asphalt Offering Through Acquisition

SAN ANTONIO, TEXAS - February 12, 2018- Andeavor (NYSE: ANDV) today announced that it has agreed to acquire the West Coast asphalt terminals of Delek US Holdings, Inc. ("Delek", NYSE: DK) for a total consideration of $75 million, plus working capital. The assets, formerly the Alon Asphalt...

London, 12/02/2018 (informazione.news - comunicati stampa - energia)

- Andeavor (NYSE: ANDV) today announced that it has agreed to acquire the West Coast asphalt terminals of Delek US Holdings, Inc. ("Delek", NYSE: DK) for a total consideration of $75 million, plus working capital. The assets, formerly the Alon Asphalt Company, includes 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.

Upon close, Andeavor expects to grow this new addition to its asphalt business to serve more customers, provide superior customer service and expand the product offering. Andeavor expects to improve the business and increase sales by approximately 20 percent over the next three years. This acquisition will bring Andeavor's total asphalt capacity to more than 430,000 tons across ten terminal locations.

"We are excited to leverage our experience to grow our asphalt offering in the West Coast and Southwest regions, and we look forward to providing exceptional asphalt products and services to our new customers in California, Nevada and Arizona," said Keith Casey, Executive Vice President of Commercial and Value Chain for Andeavor. "We expect this investment to drive higher integrated margins across the value chain, offset impacts created by bunker fuel specification changes and improve the value of heavy resid produced at our refineries."

The acquisition, which is subject to customary closing conditions including regulatory approval, is anticipated to close in the first half of 2018.

Andeavor is a premier, highly integrated marketing, logistics and refining company. Andeavor's retail-marketing system includes more than 3,200 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