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.
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.
Andeavor: Brian Randecker, Investor Relations, (210) 626-4757
Andeavor Logistics LP: Andrew Woodward, Sr. Director, Finance and Investor Relations, (210) 626-7202
Andeavor Media Relations, email@example.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.