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þ
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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27‑4151603
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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19100 Ridgewood Pkwy, San Antonio, Texas 78259-1828
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(Address of principal executive offices) (Zip Code)
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210-626-6000
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(Registrant’s telephone number, including area code)
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Large accelerated filer
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þ
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Accelerated filer
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o
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Non-accelerated filer
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o
(Do not check if a smaller reporting company)
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Smaller reporting company
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o
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Emerging growth company
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o
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Table of Contents
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2
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Financial Statements
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Three Months Ended March 31,
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2018
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2017
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(In millions, except per unit amounts)
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||||||
Revenues:
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Affiliate
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$
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318
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$
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203
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Third-party
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217
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217
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Total Revenues
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535
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420
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Costs and Expenses:
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NGL expense (excluding items shown separately below)
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48
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59
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Operating expenses (excluding depreciation and amortization)
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190
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126
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Depreciation and amortization expenses
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80
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58
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General and administrative expenses
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27
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27
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Operating Income
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190
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150
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Interest and financing costs, net
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(54
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)
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(62
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)
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Equity in earnings of equity method investments
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2
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2
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Other income, net
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1
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2
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Net Earnings Attributable to Partners
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139
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92
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Preferred unitholders’ interest in net earnings
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(14
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)
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—
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General partner’s interest in net earnings, including incentive distribution rights
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—
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(37
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)
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Limited Partners’ Interest in Net Earnings
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$
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125
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$
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55
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Net earnings per limited partner unit
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Common - basic
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$
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0.59
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$
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0.51
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Common - diluted
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$
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0.59
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$
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0.51
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Weighted average limited partner units outstanding
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Common units - basic
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217.2
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104.8
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Common units - diluted
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217.4
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104.9
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Cash distributions paid per unit
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$
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1.000
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$
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0.910
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March 31, 2018
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3
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Financial Statements
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March 31,
2018 |
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December 31,
2017 |
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(In millions, except unit amounts)
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Assets
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Current Assets
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Cash and cash equivalents
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$
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27
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$
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75
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Receivables, net of allowance for doubtful accounts
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Trade and other
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198
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219
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Affiliate
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166
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184
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Prepayments and other current assets
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40
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27
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Total Current Assets
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431
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505
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Property, Plant and Equipment, Net
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Property, plant and equipment, at cost
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6,381
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6,295
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Accumulated depreciation
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(945
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)
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(882
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)
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Property, Plant and Equipment, Net
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5,436
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5,413
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Acquired Intangibles, Net
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1,140
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1,153
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Goodwill
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684
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692
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Equity Method Investments
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312
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320
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Other Noncurrent Assets, Net
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106
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86
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Total Assets
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$
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8,109
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$
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8,169
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Liabilities and Equity
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Current Liabilities
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Accounts payable
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Trade and other
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$
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133
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$
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160
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Affiliate
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198
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199
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Accrued interest and financing costs
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68
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40
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Other current liabilities
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63
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75
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Total Current Liabilities
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462
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474
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Debt, Net of Unamortized Issuance Costs
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4,148
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4,127
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Other Noncurrent Liabilities
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66
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54
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Total Liabilities
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4,676
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4,655
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Commitments and Contingencies (Note 5)
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Equity
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Preferred unitholders; 600,000
units issued and outstanding in 2018 and 2017
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594
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589
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Common unitholders;
217,170,024
units issued and outstanding (217,097,057 in 2017)
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2,839
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2,925
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Total Equity
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3,433
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3,514
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Total Liabilities and Equity
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$
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8,109
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$
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8,169
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4
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Financial Statements
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Three Months Ended March 31,
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2018
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2017
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(In millions)
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Cash Flows From (Used In) Operating Activities
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Net earnings
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$
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139
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$
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92
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Adjustments to reconcile net earnings to net cash from operating activities:
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Depreciation and amortization expenses
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80
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58
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Other operating activities
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10
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8
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Changes in current assets and liabilities
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21
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54
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Changes in noncurrent assets and liabilities
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(20
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)
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(5
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)
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Net cash from operating activities
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230
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207
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Cash Flows Used In Investing Activities
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Capital expenditures
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(81
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)
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(49
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)
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Acquisitions
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—
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(672
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)
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Deposits for acquisitions
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(10
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)
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—
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Net cash used in investing activities
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(91
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)
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(721
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)
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Cash Flows From (Used In) Financing Activities
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Borrowings under revolving credit agreements
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150
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44
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Repayments under revolving credit agreements
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(130
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)
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(334
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)
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Proceeds from issuance of common units, net of issuance costs
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—
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281
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Proceeds from issuance of general partner units, net of issuance costs
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—
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|
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6
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Quarterly distributions to common unitholders
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(205
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)
|
|
(94
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)
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Quarterly distributions to preferred unitholders
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(8
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)
|
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—
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Quarterly distributions to general partner
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—
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(46
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)
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Distributions in connection with acquisitions
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—
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|
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(5
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)
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Capital contributions by affiliate
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9
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9
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Other financing activities
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(3
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)
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—
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Net cash used in financing activities
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(187
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)
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|
(139
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)
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Decrease in Cash and Cash Equivalents
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(48
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)
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(653
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)
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Cash and Cash Equivalents, Beginning of Period
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75
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|
|
688
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Cash and Cash Equivalents, End of Period
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$
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27
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$
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35
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March 31, 2018
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5
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Notes to Condensed Consolidated Financial Statements (Unaudited)
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6
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|
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Notes to Condensed Consolidated Financial Statements (Unaudited)
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|
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March 31, 2018
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7
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Notes to Condensed Consolidated Financial Statements (Unaudited)
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8
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|
|
|
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Notes to Condensed Consolidated Financial Statements (Unaudited)
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Cash
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$
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22
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|
Receivables
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112
|
|
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Inventories
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11
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Prepayments and Other Current Assets
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25
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|
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Property, Plant and Equipment (a)
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1,357
|
|
|
Goodwill
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558
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Acquired Intangibles
|
130
|
|
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Other Noncurrent Assets
|
2
|
|
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Accounts Payable
|
(167
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)
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Accrued Liabilities
|
(41
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)
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|
Debt
|
(347
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)
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Total purchase price
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$
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1,662
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(a)
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Estimated useful lives ranging from
3
to
22
years have been assumed based on the preliminary valuation.
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|
|
March 31, 2018
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9
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Notes to Condensed Consolidated Financial Statements (Unaudited)
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|
Three Months Ended
March 31, 2017 |
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Revenues
|
$
|
1,024
|
|
Net earnings (a)
|
130
|
|
(a)
|
While many recurring adjustments impact the pro forma figures presented, the pro forma condensed statements of consolidated operations for the three months ended March 31, 2017, the period the acquisition was assumed to be completed for pro forma purposes, includes a significant non-recurring adjustment to recognize the WNRL Merger acquisition and integration costs. We recognized acquisition costs related to the WNRL Merger of
$17 million
as well as
$3 million
of severance costs.
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Three Months Ended
March 31, |
||||||
|
2018
|
|
2017
|
||||
Revenues (a)
|
$
|
318
|
|
|
$
|
203
|
|
Operating expenses (b)
|
51
|
|
|
39
|
|
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General and administrative expenses
|
20
|
|
|
20
|
|
(a)
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Andeavor accounted for
59%
and
48%
of our total revenues for the
three
months ended
March 31, 2018
and
2017
, respectively.
|
(b)
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Net of reimbursements from Andeavor pursuant to the Amended Omnibus Agreement, the Carson Assets Indemnity Agreement and other affiliate agreements of
$7 million
and
$2 million
for the
three
months ended
March 31, 2018
and
2017
, respectively.
|
10
|
|
|
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
|
March 31,
2018 |
|
December 31, 2017
|
||||
Total debt
|
$
|
4,201
|
|
|
$
|
4,182
|
|
Unamortized issuance costs
|
(52
|
)
|
|
(54
|
)
|
||
Current maturities
|
(1
|
)
|
|
(1
|
)
|
||
Debt, Net of Current Maturities and Unamortized Issuance Costs
|
$
|
4,148
|
|
|
$
|
4,127
|
|
|
Total
Capacity
|
|
Amount Borrowed as of March 31, 2018
|
|
Outstanding
Letters of Credit
|
|
Available Capacity as of March 31, 2018
|
|
Weighted Average Interest Rate
|
|
Expiration
|
|||||||||
Revolving Credit Facility (a)
|
$
|
1,100
|
|
|
$
|
443
|
|
|
$
|
—
|
|
|
$
|
657
|
|
|
3.59
|
%
|
|
January 29, 2021
|
Dropdown Credit Facility
|
1,000
|
|
|
—
|
|
|
—
|
|
|
1,000
|
|
|
—
|
%
|
|
January 29, 2021
|
||||
Total Credit Facilities (a)
|
$
|
2,100
|
|
|
$
|
443
|
|
|
$
|
—
|
|
|
$
|
1,657
|
|
|
|
|
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(a)
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On January 5, 2018, we amended our Revolving Credit Facility to increase the aggregate commitments from
$600 million
to
$1.1 billion
and to permit the incurrence of incremental loans. We are allowed to request that the loan availability be increased up to an aggregate of
$2.1 billion
, subject to receiving increased commitments from the lenders.
|
|
|
March 31, 2018
|
11
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
Partnership
|
|
Total
|
||||||||
|
Common
|
|
Preferred
|
|
|||||||
Balance at December 31, 2017
|
$
|
2,925
|
|
|
$
|
589
|
|
|
$
|
3,514
|
|
Distributions to common and preferred unitholders (a)
|
(205
|
)
|
|
(8
|
)
|
|
(213
|
)
|
|||
Net earnings attributable to partners
|
125
|
|
|
14
|
|
|
139
|
|
|||
Cumulative effect of accounting standard adoption
|
(22
|
)
|
|
—
|
|
|
(22
|
)
|
|||
Contributions (b)
|
16
|
|
|
—
|
|
|
16
|
|
|||
Other
|
—
|
|
|
(1
|
)
|
|
(1
|
)
|
|||
Balance at March 31, 2018
|
$
|
2,839
|
|
|
$
|
594
|
|
|
$
|
3,433
|
|
(a)
|
Represents cash distributions declared and paid during the
three
months ended
March 31, 2018
.
|
(b)
|
Includes Andeavor and TLGP contributions to the Partnership primarily related to reimbursements for capital spending pursuant predominantly to the Amended Omnibus Agreement and the Carson Assets Indemnity Agreement.
|
Quarter Ended
|
Quarterly Distribution Per Common Unit
|
|
Total Cash Distribution
(in millions)
|
|
Date of Distribution
|
|
Unitholders Record Date
|
||||
December 31, 2017 (a)
|
$
|
1.000
|
|
|
$
|
205
|
|
|
February 14, 2018
|
|
January 31, 2018
|
March 31, 2018 (a)(b)(c)
|
1.015
|
|
|
205
|
|
|
May 15, 2018
|
|
May 1, 2018
|
(a)
|
This distribution is net of
$15 million
and
$12.5 million
waived by TLGP for the
three
months ended March 31, 2018 and December 31, 2017, respectively. TLGP’s distribution waivers for 2018 and 2019 remain in effect as instituted in 2017 under the terms of our partnership agreement.
|
(b)
|
This distribution was declared on
April 18, 2018
and will be paid on the date of distribution.
|
(c)
|
On February 15, 2018, we paid distributions associated with our Preferred Units of
$8 million
.
|
12
|
|
|
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
|
Three Months Ended
March 31, |
||||||
|
2018
|
|
2017
|
||||
Net earnings
|
$
|
139
|
|
|
$
|
92
|
|
Special allocations of net earnings (“Special Allocations”) (a)
|
—
|
|
|
1
|
|
||
Net earnings, including Special Allocations
|
139
|
|
|
93
|
|
||
Distributions on Preferred Units (b)
|
(10
|
)
|
|
—
|
|
||
Net earnings attributable to common units
|
129
|
|
|
93
|
|
||
General partner’s distributions
|
—
|
|
|
(3
|
)
|
||
General partner’s IDRs (c)
|
—
|
|
|
(36
|
)
|
||
Limited partners’ distributions on common units
|
(205
|
)
|
|
(101
|
)
|
||
Distributions on common units greater than earnings
|
$
|
(76
|
)
|
|
$
|
(47
|
)
|
General partner’s earnings:
|
|
|
|
||||
Distributions
|
$
|
—
|
|
|
$
|
3
|
|
General partner’s IDRs (c)
|
—
|
|
|
36
|
|
||
Allocation of distributions greater than earnings
|
—
|
|
|
(1
|
)
|
||
Total general partner’s earnings
|
$
|
—
|
|
|
$
|
38
|
|
Limited partners’ earnings on common units:
|
|
|
|
||||
Distributions (d)
|
$
|
205
|
|
|
$
|
101
|
|
Special Allocations (a)
|
—
|
|
|
(1
|
)
|
||
Allocation of distributions greater than earnings
|
(76
|
)
|
|
(46
|
)
|
||
Total limited partners’ earnings on common units
|
$
|
129
|
|
|
$
|
54
|
|
Weighted average limited partner units outstanding:
|
|
|
|
||||
Common units - basic
|
217.2
|
|
|
104.8
|
|
||
Common units - diluted (e)
|
217.4
|
|
|
104.9
|
|
||
Net earnings per limited partner unit:
|
|
|
|
||||
Common - basic
|
$
|
0.59
|
|
|
$
|
0.51
|
|
Common - diluted
|
$
|
0.59
|
|
|
$
|
0.51
|
|
(a)
|
Normal allocations according to percentage interests are made after giving effect, if any, to priority income allocations in an amount equal to incentive cash distributions fully allocated to the general partner and any special allocations. The adjustment reflects the special allocation to common units held by TLGP for the interest incurred in connection with borrowings on the Revolving Credit Facility in lieu of using all cash on hand to fund the acquisition of crude oil, natural gas and produced water gathering systems and two natural gas processing facilities from Whiting Oil and Gas Corporation, GBK Investments, LLC and WBI Energy Midstream, LLC (the “North Dakota Gathering and Processing Assets”) during the
three
months ended
March 31, 2017
.
|
(b)
|
The Preferred Units entitle unitholders to receive preferred distributions on a semi-annually basis.
|
(c)
|
IDRs entitled the general partner to receive increasing percentages, up to
50%
, of quarterly distributions in excess of
$0.3881
per unit per quarter. The amount above reflects earnings distributed to our general partner net of
$12.5 million
of IDRs waived by TLGP for the
three
months ended
March 31, 2017
. Our general partner no longer receives IDRs as a result of the IDR/GP Transaction.
|
(d)
|
Distributions of earnings for limited partners’ common units for the three months ended
March 31, 2018
is net of a
$15.0 million
waiver from Andeavor in connection with the WNRL Merger.
|
(e)
|
Diluted net earnings per unit include the effects of potentially dilutive units on our common units, which consist of unvested service and performance phantom units.
|
|
|
March 31, 2018
|
13
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
14
|
|
|
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
|
December 31, 2017
|
|
Adjustments for ASC 606 (a)
|
|
Balance at January 1, 2018
|
|
March 31, 2018
|
||||||||
Receivables from contracts with customers
|
$
|
363
|
|
|
$
|
(34
|
)
|
|
$
|
329
|
|
|
$
|
325
|
|
Other contract assets
|
—
|
|
|
34
|
|
|
34
|
|
|
13
|
|
||||
Deferred income, current
|
23
|
|
|
—
|
|
|
23
|
|
|
21
|
|
||||
Deferred income, noncurrent
|
43
|
|
|
19
|
|
|
62
|
|
|
56
|
|
(a)
|
These amounts exclude balances associated with equity method investments. We recognized a cumulative adjustment of
$3 million
as a decrease to Equity Method Investments in our condensed consolidated balance sheets as of January 1, 2018 for the impacts related to our equity method investment in Three Rivers Gathering, LLC. There were
no
material impacts to this balance during the
three
months ended
March 31, 2018
due to the adoption.
|
|
|
March 31, 2018
|
15
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
March 31, 2018
|
||||||||||
|
Terminalling and Transportation
|
|
Gathering and Processing
|
|
Wholesale
|
||||||
Service Revenues (a)
|
|
|
|
|
|
||||||
Refined products
|
$
|
203
|
|
|
$
|
—
|
|
|
$
|
6
|
|
Crude oil and water
|
26
|
|
|
87
|
|
|
—
|
|
|||
Natural gas
|
—
|
|
|
98
|
|
|
—
|
|
|||
Other
|
2
|
|
|
—
|
|
|
—
|
|
|||
Total Service Revenues
|
231
|
|
|
185
|
|
|
6
|
|
|||
|
|
|
|
|
|
||||||
Product Revenues
|
|
|
|
|
|
||||||
NGL products
|
—
|
|
|
104
|
|
|
—
|
|
|||
Refined products
|
—
|
|
|
—
|
|
|
9
|
|
|||
Total Product Revenues
|
—
|
|
|
104
|
|
|
9
|
|
|||
Total Revenues
|
$
|
231
|
|
|
$
|
289
|
|
|
$
|
15
|
|
(a)
|
Includes
$81 million
of lease revenues for the
three
months ended
March 31, 2018
.
|
16
|
|
|
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited)
|
|
|
Three Months Ended
March 31, |
||||||
|
2018
|
|
2017
|
||||
Revenues
|
|
|
|
||||
Terminalling and Transportation:
|
|
|
|
||||
Terminalling
|
$
|
198
|
|
|
$
|
145
|
|
Pipeline transportation
|
31
|
|
|
30
|
|
||
Other revenues
|
2
|
|
|
—
|
|
||
Total Terminalling and Transportation
|
231
|
|
|
175
|
|
||
Gathering and Processing:
|
|
|
|
||||
NGL sales
|
104
|
|
|
83
|
|
||
Gas gathering and processing
|
85
|
|
|
80
|
|
||
Crude oil and water gathering
|
65
|
|
|
39
|
|
||
Pass-thru and other
|
35
|
|
|
43
|
|
||
Total Gathering and Processing
|
289
|
|
|
245
|
|
||
Wholesale:
|
|
|
|
||||
Fuel sales
|
9
|
|
|
—
|
|
||
Other wholesale
|
8
|
|
|
—
|
|
||
Total Wholesale
|
17
|
|
|
—
|
|
||
Intersegment wholesale revenues
|
(2
|
)
|
|
—
|
|
||
Total Revenues
|
$
|
535
|
|
|
$
|
420
|
|
|
|
|
|
||||
Segment Operating Income
|
|
|
|
||||
Terminalling and Transportation
|
$
|
120
|
|
|
$
|
98
|
|
Gathering and Processing
|
74
|
|
|
62
|
|
||
Wholesale
|
4
|
|
|
—
|
|
||
Total Segment Operating Income
|
198
|
|
|
160
|
|
||
Unallocated general and administrative expenses
|
(8
|
)
|
|
(10
|
)
|
||
Operating Income
|
190
|
|
|
150
|
|
||
Interest and financing costs, net
|
(54
|
)
|
|
(62
|
)
|
||
Equity in earnings of equity method investments
|
2
|
|
|
2
|
|
||
Other income, net
|
1
|
|
|
2
|
|
||
Net Earnings
|
$
|
139
|
|
|
$
|
92
|
|
|
|
|
|
||||
Depreciation and Amortization Expenses
|
|
|
|
||||
Terminalling and Transportation
|
$
|
29
|
|
|
$
|
21
|
|
Gathering and Processing
|
48
|
|
|
37
|
|
||
Wholesale
|
3
|
|
|
—
|
|
||
Total Depreciation and Amortization Expenses
|
$
|
80
|
|
|
$
|
58
|
|
|
|
|
|
||||
Capital Expenditures
|
|
|
|
||||
Terminalling and Transportation
|
$
|
27
|
|
|
$
|
27
|
|
Gathering and Processing
|
55
|
|
|
18
|
|
||
Wholesale
|
1
|
|
|
—
|
|
||
Total Capital Expenditures
|
$
|
83
|
|
|
$
|
45
|
|
|
|
March 31, 2018
|
17
|
Management’s Discussion and Analysis
|
18
|
|
|
|
|
Management’s Discussion and Analysis
|
|
•
|
increasing our terminalling volumes by expanding capacity and growing our third-party services at certain of our terminals;
|
•
|
optimizing Andeavor volumes and growing third-party throughput at our Terminalling and Transportation assets; and
|
•
|
pursuing strategic assets in the western U.S.
|
•
|
further expanding capacity and capabilities as well as adding new origin and destination points for our common carrier pipelines in North Dakota and Montana;
|
•
|
expanding our crude oil, natural gas and water gathering and associated gas processing footprint in the Bakken region to enhance and improve overall basin logistics efficiencies;
|
•
|
expanding our crude oil gathering footprint in the Permian Basin, principally in the Delaware basin where Andeavor has a strong logistics asset base, crude oil marketing capabilities and meaningful refining offtake; and
|
•
|
pursuing strategic assets across the western U.S. including potential acquisitions from Andeavor.
|
|
|
March 31, 2018
|
19
|
Management’s Discussion and Analysis
|
•
|
Average terminalling revenue per barrel - calculated as total terminalling revenue divided by terminalling throughput presented in thousands of barrels per day (“Mbpd”) multiplied by 1,000 and multiplied by the number of days in the period, (90 days for both the
three
months ended
March 31, 2018
(the “
2018
Quarter”) and
three
months ended
March 31, 2017
(the “
2017
Quarter”));
|
•
|
Average pipeline transportation revenue per barrel - calculated as total pipeline transportation revenue divided by pipeline transportation throughput presented in Mbpd multiplied by 1,000 and multiplied by the number of days in the period as outlined above;
|
•
|
Average margin on NGL sales per barrel - calculated as the difference between the NGL sales revenues and the amounts recognized as NGL expense divided by our NGL sales volumes in barrels presented in Mbpd multiplied by 1,000 and multiplied by the number of days in the period as outlined above;
|
•
|
Average gas gathering and processing revenue per Million British thermal units (“MMBtu”) - calculated as total gathering and processing fee-based revenue divided by gas gathering throughput presented in thousands of MMBtu per day (“MMBtu/d”) multiplied by 1,000 and multiplied by the number of days in the period as outlined above;
|
•
|
Average crude oil and water gathering revenue per barrel - calculated as total crude oil and water gathering fee-based revenue divided by crude oil and water gathering throughput presented in Mbpd multiplied by 1,000 and multiplied by the number of days in the period as outlined above; and
|
•
|
Wholesale fuel sales per gallon - calculated as wholesale fuel revenues divided by our total wholesale fuel sales volume in gallons.
|
•
|
Financial non-GAAP measure of EBITDA - calculated as U.S. GAAP-based net earnings before interest, income taxes and depreciation and amortization expense;
|
•
|
Financial non-GAAP measure of Segment EBITDA - calculated as a segment’s U.S. GAAP-based operating income before depreciation and amortization expense plus equity in earnings (loss) of equity method investments and other income (expense), net;
|
20
|
|
|
|
|
Management’s Discussion and Analysis
|
|
•
|
Liquidity non-GAAP measure of distributable cash flow - calculated as U.S. GAAP-based net cash flow from operating activities adjusted for changes in working capital, amounts spent on maintenance capital net of reimbursements and other adjustments not expected to settle in cash;
|
•
|
Liquidity non-GAAP measure of distributable cash flow attributable to common unitholders - calculated as distributable cash flow minus distributions associated with the Preferred Units; and
|
•
|
Operating performance measure of average margin on NGL sales per barrel - calculated as the difference between the NGL sales revenues and the amounts recognized as NGL expense divided by our NGL sales volumes in barrels presented in Mbpd multiplied by 1,000 and multiplied by the number of days in the period as previously outlined.
|
•
|
our operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or financing methods;
|
•
|
the ability of our assets to generate sufficient cash flow to make distributions to our unitholders;
|
•
|
our ability to incur and service debt and fund capital expenditures; and
|
•
|
the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.
|
|
|
March 31, 2018
|
21
|
Management’s Discussion and Analysis
|
(a)
|
See “Non-GAAP Reconciliations” section below for further information regarding these non-GAAP measures.
|
22
|
|
|
|
|
Management’s Discussion and Analysis
|
|
|
|
March 31, 2018
|
23
|
Management’s Discussion and Analysis
|
(a)
|
See “Non-GAAP Reconciliations” section below for further information regarding this non-GAAP measure.
|
24
|
|
|
|
|
Management’s Discussion and Analysis
|
|
|
Three Months Ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Revenues
|
|
|
|
||||
Terminalling
|
$
|
198
|
|
|
$
|
145
|
|
Pipeline transportation
|
31
|
|
|
30
|
|
||
Other revenues
|
2
|
|
|
—
|
|
||
Total Revenues
|
231
|
|
|
175
|
|
||
Costs and Expenses
|
|
|
|
||||
Operating expenses (a)
|
74
|
|
|
49
|
|
||
Depreciation and amortization expenses
|
29
|
|
|
21
|
|
||
General and administrative expenses
|
8
|
|
|
7
|
|
||
Operating Income
|
$
|
120
|
|
|
$
|
98
|
|
Rates (b)
|
|
|
|
||||
Average terminalling revenue per barrel
|
$
|
1.32
|
|
|
$
|
1.58
|
|
Average pipeline transportation revenue per barrel
|
$
|
0.39
|
|
|
$
|
0.40
|
|
(a)
|
Operating expenses included an imbalance settlement gain of
$1 million
for the
2017
Quarter. There was no gain for the 2018 Quarter.
|
(b)
|
Amounts may not recalculate due to rounding of dollar and volume information.
|
|
|
March 31, 2018
|
25
|
Management’s Discussion and Analysis
|
(a)
|
See “Non-GAAP Reconciliations” section below for further information regarding this non-GAAP measure.
|
(a)
|
Volumes represent barrels sold in keep-whole arrangements, net barrels retained in POP arrangements and other associated products.
|
26
|
|
|
|
|
Management’s Discussion and Analysis
|
|
|
Three Months Ended
March 31, |
||||||
|
2018
|
|
2017
|
||||
Revenues
|
|
|
|
||||
NGL sales (a)
|
$
|
104
|
|
|
$
|
83
|
|
Gas gathering and processing
|
85
|
|
|
80
|
|
||
Crude oil and water gathering
|
65
|
|
|
39
|
|
||
Pass-thru and other (b)
|
35
|
|
|
43
|
|
||
Total Revenues
|
289
|
|
|
245
|
|
||
Costs and Expenses
|
|
|
|
||||
NGL expense (excluding items shown separately below) (a)(b)
|
48
|
|
|
59
|
|
||
Operating expenses (c)
|
108
|
|
|
77
|
|
||
Depreciation and amortization expenses
|
48
|
|
|
37
|
|
||
General and administrative expenses
|
11
|
|
|
10
|
|
||
Operating Income
|
$
|
74
|
|
|
$
|
62
|
|
Rates (d)
|
|
|
|
||||
Average margin on NGL sales per barrel (a)(b)(e)
|
$
|
53.22
|
|
|
$
|
39.15
|
|
Average gas gathering and processing revenue per MMBtu
|
$
|
0.93
|
|
|
$
|
0.94
|
|
Average crude oil and water gathering revenue per barrel
|
$
|
2.37
|
|
|
$
|
1.73
|
|
(a)
|
We had
26.7
Mbpd and
21.1
Mbpd of gross NGL sales under POP and keep-whole arrangements for the
2018
Quarter and
2017
Quarter, respectively. We retained
11.8
Mbpd and
7.4
Mbpd under these arrangements, respectively. The difference between gross sales barrels and barrels retained is reflected in NGL expense resulting from the gross presentation required for the POP arrangements associated with the North Dakota Gathering and Processing Assets.
|
(b)
|
Included in the NGL expense for the 2017 Quarter was approximately $2 million of costs related to crude oil volumes obtained in connection with the North Dakota Gathering and Processing Assets acquisition. The corresponding revenues were recognized in pass-thru and other revenue. As such, the calculation of the average margin on NGL sales per barrel excludes this amount.
|
(c)
|
Operating expenses include an imbalance settlement gain of
$2 million
for the
2017
Quarter. There was no gain for the 2018 Quarter.
|
(d)
|
Amounts may not recalculate due to rounding of dollar and volume information.
|
(e)
|
See “Non-GAAP Reconciliations” section below for further information regarding this non-GAAP measure.
|
|
|
March 31, 2018
|
27
|
Management’s Discussion and Analysis
|
|
Three Months Ended
March 31, |
||
|
2018
|
||
Revenues
|
|
||
Fuel sales
|
$
|
9
|
|
Other wholesale
|
8
|
|
|
Total Revenues
|
17
|
|
|
Costs and Expenses
|
|
||
Operating expenses (excluding depreciation and amortization)
|
10
|
|
|
Depreciation and amortization expenses
|
3
|
|
|
Operating Income
|
$
|
4
|
|
|
|
||
Segment EBITDA (a)
|
$
|
7
|
|
|
|
||
Rates (b)
|
|
||
Fuel sales volumes (millions of gallons)
|
286
|
|
|
Wholesale fuel sales per gallon
|
|
3.1
|
¢
|
(a)
|
See “Non-GAAP Reconciliations” section below for further information regarding this non-GAAP measure.
|
(b)
|
Amounts may not recalculate due to rounding of dollar and volume information.
|
28
|
|
|
|
|
Management’s Discussion and Analysis
|
|
Debt, including current maturities:
|
March 31, 2018
|
|
December 31, 2017
|
||||
Credit facilities
|
$
|
443
|
|
|
$
|
423
|
|
Senior notes
|
3,750
|
|
|
3,750
|
|
||
Capital lease obligations
|
8
|
|
|
9
|
|
||
Total Debt
|
4,201
|
|
|
4,182
|
|
||
Unamortized Issuance Costs
|
(52
|
)
|
|
(54
|
)
|
||
Debt, Net of Unamortized Issuance Costs
|
4,149
|
|
|
4,128
|
|
||
Total Equity
|
3,433
|
|
|
3,514
|
|
||
Total Capitalization
|
$
|
7,582
|
|
|
$
|
7,642
|
|
Credit Facility
|
Total
Capacity
|
|
Amount Borrowed as of March 31, 2018
|
|
Available Capacity as of March 31, 2018
|
|
Weighted Average Interest Rate
|
|
Expiration
|
|||||||
Revolving Credit Facility
|
$
|
1,100
|
|
|
$
|
443
|
|
|
$
|
657
|
|
|
3.59
|
%
|
|
January 29, 2021
|
Dropdown Credit Facility
|
1,000
|
|
|
—
|
|
|
1,000
|
|
|
—
|
%
|
|
January 29, 2021
|
|||
Total Credit Facilities
|
$
|
2,100
|
|
|
$
|
443
|
|
|
$
|
1,657
|
|
|
|
|
|
Credit Facility
|
30 Day Eurodollar (LIBOR) Rate at March 31, 2018
|
|
Eurodollar Margin
|
|
Base Rate
|
|
Base Rate Margin
|
|
Commitment Fee
(unused portion)
|
Revolving Credit Facility (a)
|
2.31%
|
|
1.75%
|
|
4.75%
|
|
0.75%
|
|
0.300%
|
Dropdown Credit Facility (a)
|
2.31%
|
|
1.76%
|
|
4.75%
|
|
0.76%
|
|
0.300%
|
(a)
|
We have the option to elect if the borrowings will bear interest at a base rate plus the base rate margin, or a Eurodollar rate, for the applicable period, plus the Eurodollar margin at the time of the borrowing. The applicable margin varies based upon a certain leverage ratio, as defined by the Revolving Credit Facility. We also incur commitment fees for the unused portion of the Revolving Credit Facility at an annual rate. Letters of credit outstanding under the Revolving Credit Facility incur fees at the Eurodollar margin rate.
|
|
|
March 31, 2018
|
29
|
Management’s Discussion and Analysis
|
|
Three Months Ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Cash Flows From (Used in):
|
|
|
|
||||
Operating activities
|
$
|
230
|
|
|
$
|
207
|
|
Investing activities
|
(91
|
)
|
|
(721
|
)
|
||
Financing activities
|
(187
|
)
|
|
(139
|
)
|
||
Decrease in Cash and Cash Equivalents
|
$
|
(48
|
)
|
|
$
|
(653
|
)
|
30
|
|
|
|
|
Management’s Discussion and Analysis
|
|
|
Three Months Ended March 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
||||||||||
|
Terminalling and Transportation
|
|
Gathering and Processing
|
|
Wholesale
|
||||||||||||||
Segment Operating Income
|
$
|
120
|
|
|
$
|
98
|
|
|
$
|
74
|
|
|
$
|
62
|
|
|
$
|
4
|
|
Depreciation and amortization expenses
|
29
|
|
|
21
|
|
|
48
|
|
|
37
|
|
|
3
|
|
|||||
Equity in earnings of equity method investments
|
—
|
|
|
—
|
|
|
2
|
|
|
2
|
|
|
—
|
|
|||||
Other income, net
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Segment EBITDA
|
$
|
150
|
|
|
$
|
119
|
|
|
$
|
124
|
|
|
$
|
101
|
|
|
$
|
7
|
|
|
Three Months Ended
March 31, |
||||||
|
2018
|
|
2017
|
||||
Net cash from operating activities
|
$
|
230
|
|
|
$
|
207
|
|
Changes in assets and liabilities
|
(1
|
)
|
|
(49
|
)
|
||
Maintenance capital expenditures (a)
|
(19
|
)
|
|
(17
|
)
|
||
Reimbursement for maintenance capital expenditures (a)
|
6
|
|
|
8
|
|
||
Adjustments for equity method investments
|
(3
|
)
|
|
—
|
|
||
Other (b)
|
(4
|
)
|
|
3
|
|
||
Distributable Cash Flow
|
209
|
|
|
152
|
|
||
Less: Preferred unit distributions (c)
|
(10
|
)
|
|
—
|
|
||
Distributable Cash Flow Attributable to Common Unitholders
|
$
|
199
|
|
|
$
|
152
|
|
(a)
|
We adjust our reconciliation of distributable cash flows for maintenance capital expenditures, tank restoration costs and expenditures required to ensure the safety, reliability, integrity and regulatory compliance of our assets with an offset for any reimbursements received for such expenditures.
|
(b)
|
Includes adjustments to remove the impact of the adoption of the new revenue recognition accounting standard on January 1, 2018. Refer to
Note 7
for further information regarding the adoption of the revenue recognition standard.
|
(c)
|
Represents the cash distributions earned by the Preferred Units for the
three
months ended
March 31, 2018
assuming a distribution is declared by the Board. Cash distributions to be paid to holders of the Preferred Units are not available to common unitholders.
|
|
|
March 31, 2018
|
31
|
Management’s Discussion and Analysis
|
|
Three Months Ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Segment Operating Income
|
$
|
74
|
|
|
$
|
62
|
|
Add back:
|
|
|
|
||||
Operating expenses
|
108
|
|
|
77
|
|
||
General and administrative expenses
|
11
|
|
|
10
|
|
||
Depreciation and amortization expenses
|
48
|
|
|
37
|
|
||
Other commodity purchases (a)
|
—
|
|
|
2
|
|
||
Subtract:
|
|
|
|
||||
Gas gathering and processing revenues
|
(85
|
)
|
|
(80
|
)
|
||
Crude oil gathering revenues
|
(65
|
)
|
|
(39
|
)
|
||
Pass-thru and other revenues
|
(35
|
)
|
|
(43
|
)
|
||
Margin on NGL Sales
|
$
|
56
|
|
|
$
|
26
|
|
Divided by Total Volumes for the Period:
|
|
|
|
||||
NGLs sales volumes (Mbpd)
|
11.8
|
|
|
7.4
|
|
||
Number of days in the period
|
90
|
|
|
90
|
|
||
Total volumes for the period (thousands of barrels) (b)
|
1,062
|
|
|
666
|
|
||
Average Margin on NGL Sales per Barrel (b)
|
$
|
53.22
|
|
|
$
|
39.15
|
|
(a)
|
Included in the NGL expense for the three months ended March 31, 2017 was approximately $2 million of costs related to crude oil volumes obtained and immediately sold in connection with the North Dakota Gathering and Processing Assets acquisition.
|
(b)
|
Amounts may not recalculate due to rounding of dollar and volume information.
|
32
|
|
|
|
|
Management’s Discussion and Analysis
|
|
•
|
changes in the expected value of and benefits derived from acquisitions, including any inability to successfully integrate acquisitions, realize expected synergies or achieve operational efficiency and effectiveness;
|
•
|
changes in global economic conditions on our business, on the business of our key customers, including Andeavor, and on our customers’ suppliers, business partners and credit lenders;
|
•
|
a material change in the crude oil and natural gas produced in the basins where we operate;
|
•
|
the ability of our key customers, including Andeavor, to remain in compliance with the terms of their outstanding indebtedness;
|
•
|
changes in insurance markets impacting costs and the level and types of coverage available;
|
•
|
regulatory and other requirements concerning the transportation of crude oil, natural gas, NGLs and refined products, particularly in the areas where we operate;
|
•
|
changes in the cost or availability of third-party vessels, pipelines and other means of delivering and transporting crude oil, feedstocks, natural gas, NGLs and refined products;
|
•
|
the coverage and ability to recover claims under our insurance policies;
|
•
|
the availability and costs of crude oil, other refinery feedstocks and refined products;
|
•
|
the timing and extent of changes in commodity prices and demand for refined products, natural gas and NGLs;
|
•
|
changes in our cash flow from operations;
|
•
|
changes in our tax status;
|
•
|
the ability of our largest customers to perform under the terms of our gathering agreements;
|
•
|
the risk of contract cancellation, non-renewal or failure to perform by those in our supply and distribution chains, including Andeavor and Andeavor’s customers, and the ability to replace such contracts and/or customers;
|
•
|
the suspension, reduction or termination of Andeavor’s obligations under our commercial agreements and our secondment agreement;
|
•
|
a material change in profitability among our customers, including Andeavor;
|
•
|
direct or indirect effects on our business resulting from actual or threatened terrorist or activist incidents, cyber-security breaches or acts of war;
|
•
|
weather conditions, earthquakes or other natural disasters affecting operations by us or our key customers, including Andeavor, or the areas in which our customers operate;
|
•
|
disruptions due to equipment interruption or failure at our facilities, Andeavor’s facilities or third-party facilities on which our key customers, including Andeavor, are dependent;
|
•
|
our inability to complete acquisitions on economically acceptable terms or within anticipated timeframes;
|
•
|
actions of customers and competitors;
|
•
|
changes in our credit profile;
|
•
|
state and federal environmental, economic, health and safety, energy and other policies and regulations, including those related to climate change, and any changes therein and any legal or regulatory investigations, delays in obtaining necessary approvals and permits, compliance costs or other factors beyond our control;
|
•
|
operational hazards inherent in refining and natural gas processing operations and in transporting and storing crude oil, natural gas, NGLs and refined products;
|
•
|
changes in capital requirements or in expected timing, execution and benefits of planned capital projects;
|
•
|
seasonal variations in demand for natural gas and refined products;
|
•
|
adverse rulings, judgments, or settlements in litigation or other legal or tax matters, including unexpected environmental remediation costs in excess of any accruals, which affect us or Andeavor;
|
•
|
risks related to labor relations and workplace safety;
|
•
|
political developments;
|
•
|
the closing of the MPC Merger; and
|
•
|
the factors described in greater detail under “Competition” and “Risk Factors” in Items 1 and 1A of our Annual Report on Form 10-K for the year ended
December 31, 2017
, and our other filings with the SEC.
|
|
|
March 31, 2018
|
33
|
Quantitative and Qualitative Disclosures about Market Risk
|
|
34
|
|
|
|
|
Legal Proceedings, Risk Factors and Unregistered Shares of Equity Securities
|
|
|
March 31, 2018
|
35
|
Legal Proceedings, Risk Factors and Unregistered Shares of Equity Securities
|
Period
|
Total Number of Units
Purchased (a)
|
|
Average Price
Paid
per Unit
|
|
Total Number of Units Purchased as Part of Publicly Announced Plans or Programs
|
|
Approximate Dollar Value of Units that May Yet Be Purchased Remaining at Period End Under the Plan or Programs
|
||||||
January 2018
|
30,243
|
|
|
$
|
52.40
|
|
|
—
|
|
|
$
|
—
|
|
February 2018
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
March 2018
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
Total
|
30,243
|
|
|
|
|
—
|
|
|
|
(a)
|
The entire 30,243 units were acquired from employees during the first quarter of 2018 to satisfy tax withholding obligations in connection with the vesting of performance phantom unit awards issued to them.
|
Exhibit Number
|
|
|
|
Incorporated by Reference (File No. 1-35143, unless otherwise indicated)
|
||||
|
Description of Exhibit
|
|
Form
|
|
Exhibit
|
|
Filing Date
|
|
‡
2.1
|
|
|
8-K
|
|
2.1
|
|
8/14/2017
|
|
|
|
|
|
|
|
|
|
|
‡
2.2
|
|
|
8-K
|
|
2.1
|
|
11/8/2017
|
|
|
|
|
|
|
|
|
|
|
*‡ 2.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.1
|
|
|
8-K
|
|
3.1
|
|
8/1/2017
|
|
|
|
|
|
|
|
|
|
|
3.2
|
|
|
8-K
|
|
3.1
|
|
12/1/2017
|
|
|
|
|
|
|
|
|
|
|
*10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.2
|
|
|
8-K
|
|
10.1
|
|
1/5/2018
|
|
|
|
|
|
|
|
|
|
|
10.3
|
|
|
8-K
|
|
10.2
|
|
1/5/2018
|
|
|
|
|
|
|
|
|
|
|
10.4
|
|
|
10-K
|
|
10.90
|
|
2/21/2018
|
|
|
|
|
|
|
|
|
|
|
10.5
|
|
|
10-K
|
|
10.100
|
|
2/21/2018
|
|
|
|
|
|
|
|
|
|
|
10.6
|
|
|
8-K
|
|
10.1
|
|
2/23/2018
|
|
|
|
|
|
|
|
|
|
|
10.7
|
|
|
8-K
|
|
10.2
|
|
2/23/2018
|
|
|
|
|
|
|
|
|
|
|
*31.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36
|
|
|
|
|
Exhibits
|
Exhibit Number
|
|
|
|
Incorporated by Reference (File No. 1-35143, unless otherwise indicated)
|
||||
|
Description of Exhibit
|
|
Form
|
|
Exhibit
|
|
Filing Date
|
|
*31.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*32.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*32.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
**101.INS
|
|
XBRL Instance Document
|
|
|
|
|
|
|
**101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
|
**101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
|
**101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
**101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
|
**101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
|
‡
|
Certain schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule will be furnished supplementally to the SEC on request.
|
*
|
Filed herewith
|
**
|
Submitted electronically herewith
|
|
|
March 31, 2018
|
37
|
|
|
Andeavor Logistics LP
|
|
|
|
|
|
|
|
By:
|
Tesoro Logistics GP, LLC
|
|
|
|
Its general partner
|
|
|
|
|
Date:
|
May 7, 2018
|
By:
|
/s/ STEVEN M. STERIN
|
|
|
|
Steven M. Sterin
|
|
|
|
President and Chief Financial Officer
|
|
|
|
(Principal Financial Officer and Duly Authorized Officer)
|
38
|
|
|
|
|
ANDEAVOR
By:
/s/ GREGORY J. GOFF
Gregory J. Goff
President and Chief Executive Officer
|
TESORO REFINING & MARKETING COMPANY LLC
By:
/s/ GREGORY J. GOFF
Gregory J. Goff
President
|
ANDEAVOR LOGISTICS LP
By: Tesoro Logistics GP, LLC,
its general partner
By:
/s/ STEVEN M. STERIN
Steven M. Sterin
President and Chief Financial Officer
|
TESORO LOGISTICS GP, LLC
TESORO LOGISTICS OPERATIONS LLC
By:
/s/ STEVEN M. STERIN
Steven M. Sterin
President and Chief Financial Officer
|
|
Shell Capacity
|
Tank #
|
(Barrels)
|
1
|
139,800
|
2
|
139,800
|
3
|
139,800
|
4
|
140,200
|
5
|
139,800
|
6
|
136,800
|
7
|
136,800
|
8
|
76,300
|
9
|
77,300
|
10
|
51,600
|
11
|
76,200
|
12
|
74,200
|
13
|
60,900
|
14
|
73,300
|
15
|
51,600
|
16
|
51,600
|
17
|
51,600
|
18
|
51,600
|
19
|
11,490
|
20
|
22,200
|
21
|
27,800
|
22
|
27,800
|
23
|
28,900
|
24
|
65,600
|
25
|
28,700
|
26
|
77,600
|
27
|
24,400
|
28
|
27,800
|
29
|
74,300
|
30
|
27,800
|
31
|
27,800
|
32
|
74,100
|
33
|
28,300
|
34
|
OOS
|
35
|
77,300
|
36
|
77,300
|
37
|
10,900
|
38
|
10,900
|
45
|
281
|
46
|
OOS
|
47
|
OOS
|
48
|
OOS
|
53
|
952
|
54
|
952
|
55
|
OOS
|
56
|
424
|
60
|
140,300
|
62
|
OOS
|
88
|
OOS
|
89
|
OOS
|
90
|
OOS
|
91
|
27,900
|
92
|
141,600
|
95
|
OOS
|
98
|
OOS
|
99
|
OOS
|
109
|
488
|
110
|
OOS
|
113
|
27,900
|
114
|
115,900
|
115
|
488
|
134
|
87,800
|
138
|
281
|
142
|
142,500
|
147
|
OOS
|
148
|
137,300
|
156
|
NA
|
157
|
NA
|
158
|
NA
|
159
|
OOS
|
160
|
1,924
|
171
|
124,700
|
180
|
NA
|
202
|
182,800
|
203
|
182,800
|
221
|
NA
|
222
|
NA
|
223
|
NA
|
224
|
NA
|
225
|
NA
|
226
|
NA
|
227
|
NA
|
228
|
NA
|
229
|
NA
|
230
|
29,900
|
231
|
101,300
|
232
|
OOS
|
247
|
15,600
|
248
|
16,400
|
249
|
OOS
|
241 A
|
NA
|
241 B
|
NA
|
255
|
NA
|
280
|
NA
|
801
|
896
|
802
|
896
|
803
|
896
|
804
|
896
|
866
|
713
|
867
|
713
|
877
|
NA
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21317
|
164100007
|
300067090
|
0
|
12/23/2016
|
Pipe, Valves and Fittings
|
Tank Farm
|
600
|
21317
|
164100007
|
300067091
|
0
|
2/11/2017
|
Pipe, Valves and Fittings - Installation
|
Tank Farm
|
600
|
21317
|
164100007
|
300067092
|
0
|
12/8/2016
|
Electrical
|
Tank Farm
|
600
|
21317
|
162100077
|
300067239
|
0
|
6/30/2017
|
Pipe, Valves and Fittings
|
Tank Farm
|
600
|
21317
|
162100077
|
300067240
|
0
|
5/17/2017
|
Electrical/Instrument Components
|
Tank Farm
|
600
|
21317
|
162100077
|
300067241
|
0
|
1/14/2017
|
Pipe, Valves and Fittings - Installation
|
Tank Farm
|
600
|
21317
|
162100077
|
300067242
|
0
|
8/17/2017
|
Instrumentation & Automation
|
Tank Farm
|
600
|
21317
|
162100077
|
300067244
|
0
|
4/8/2017
|
Paint
|
Tank Farm
|
600
|
21317
|
162100077
|
300067245
|
0
|
2/28/2017
|
Tools and Maintenance Equipment
|
Tank Farm
|
600
|
21317
|
162100077
|
300067246
|
0
|
7/18/2017
|
Equipment Rentals
|
Tank Farm
|
600
|
21317
|
162100077
|
300067247
|
0
|
1/12/2017
|
In-House Engineering - Equipment
|
Tank Farm
|
600
|
21317
|
172100068
|
300070367
|
0
|
8/31/2017
|
Pipe, Valves and Fittings - Installation
|
Tank Farm
|
600
|
21317
|
172100068
|
300070369
|
0
|
8/31/2017
|
Paint
|
Tank Farm
|
600
|
21317
|
172100068
|
300070370
|
0
|
9/30/2017
|
Professional Services - Equipment
|
Tank Farm
|
600
|
21317
|
172100068
|
300070374
|
0
|
9/12/2017
|
In-House Engineering - Equipment
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.02
|
950013060
|
0
|
11/19/2016
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.02
|
950013061
|
0
|
4/8/2017
|
Engineering
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.02
|
950013066
|
0
|
11/8/2016
|
Contract Services
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.03
|
950014210
|
0
|
1/21/2017
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.05
|
950014279
|
0
|
2/28/2017
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.05
|
950014284
|
0
|
5/31/2017
|
Equipment Rentals
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2016.05
|
950014285
|
0
|
1/14/2017
|
Contract Services
|
Tank Farm
|
600
|
21317
|
DKTRS.0600.2017.01
|
950014367
|
0
|
1/11/2017
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2017.01
|
950014373
|
0
|
6/8/2017
|
Contract Services
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2017.02
|
950014768
|
0
|
6/10/2017
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2017.02
|
950014774
|
0
|
10/31/2017
|
Contract Services
|
Tank Farm
|
600
|
21317
|
DTRKS.0600.2017.03
|
950014859
|
0
|
8/16/2017
|
Repair Costs
|
Tank Farm
|
600
|
21317
|
DTRKS.0600.2017.03
|
950014860
|
0
|
8/31/2017
|
Equipment Rentals
|
Tank Farm
|
600
|
21317
|
0
|
100004558
|
0
|
7/1/1955
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004558
|
2
|
7/1/1955
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004574
|
0
|
7/1/1956
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004587
|
0
|
7/1/1957
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004604
|
0
|
7/1/1958
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004621
|
0
|
7/1/1959
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004637
|
0
|
7/1/1960
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004651
|
0
|
7/1/1961
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004665
|
0
|
7/1/1962
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004682
|
0
|
7/1/1963
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004697
|
0
|
7/1/1964
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004713
|
0
|
7/1/1965
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004725
|
0
|
7/1/1966
|
OIL STORAGE
|
Tank Farm
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21317
|
0
|
100004740
|
0
|
7/1/1967
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004751
|
0
|
7/1/1968
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004764
|
0
|
7/1/1969
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004777
|
0
|
7/1/1970
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004789
|
0
|
7/1/1971
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004803
|
0
|
7/1/1972
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004819
|
0
|
7/1/1973
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004834
|
0
|
7/1/1974
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004850
|
0
|
7/1/1975
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004874
|
0
|
7/1/1977
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004887
|
0
|
7/1/1978
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004903
|
0
|
7/1/1979
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004918
|
0
|
7/1/1980
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004931
|
0
|
7/1/1981
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004944
|
0
|
7/1/1982
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004957
|
0
|
7/1/1983
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004972
|
0
|
7/1/1984
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100004987
|
0
|
7/1/1985
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005002
|
0
|
7/1/1986
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005016
|
0
|
7/1/1987
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005067
|
0
|
7/1/1990
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005085
|
0
|
7/1/1991
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005104
|
0
|
7/1/1992
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005123
|
0
|
7/1/1993
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005145
|
0
|
7/1/1994
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005163
|
0
|
7/1/1995
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005182
|
0
|
7/1/1996
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005199
|
0
|
7/1/1997
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100005215
|
0
|
11/15/1998
|
OIL STORAGE
|
Tank Farm
|
600
|
21317
|
0
|
100076635
|
0
|
7/1/1955
|
INTERCONNECT OIL LINES AND CONNECTIONS
|
Tank Farm
|
600
|
21317
|
2100004
|
100012064
|
0
|
9/11/2000
|
4 STEAM HEATERS FOR CRUDE OIL STORAGE TANK 3
|
Tank Farm
|
600
|
21317
|
2100013
|
100013318
|
0
|
9/11/2001
|
CRUDE FEED SEGREGATION
|
Tank Farm
|
600
|
21317
|
2100022
|
100012724
|
0
|
4/12/2001
|
RE-INSULATE TANK2 LINES & INSTALL STEAM HEAT TRACE
|
Tank Farm
|
600
|
21317
|
5100035
|
100012257
|
0
|
10/3/2000
|
TANK 31 FLOOR REPLACEMENT
|
Tank Farm
|
600
|
21317
|
5100043
|
100012258
|
0
|
10/23/2000
|
TANK 37 LEVEL GUAGE
|
Tank Farm
|
600
|
21317
|
7100004
|
100012259
|
0
|
9/11/2000
|
TANK 3 SEAL REPLACEMENT
|
Tank Farm
|
600
|
21317
|
7100028
|
100013475
|
0
|
11/1/2001
|
WATER-IN CRUDE MONITOR $ CONTROL VALVE
|
Tank Farm
|
600
|
21317
|
12100018
|
100016514
|
0
|
1/9/2002
|
BULK LP OXIDATION SYSTEM
|
Tank Farm
|
600
|
21317
|
14100003
|
100013698
|
0
|
11/15/2001
|
MODIFY (2) BUTANE/PROPANE DELUGE FIRE WATER VALVES
|
Tank Farm
|
600
|
21317
|
15100034
|
100013705
|
0
|
8/21/2001
|
REPLACE ROOF - TANK 25
|
Tank Farm
|
600
|
21317
|
17100003
|
100013710
|
0
|
3/8/2001
|
SECONDARY SEAL - TANK 14
|
Tank Farm
|
600
|
21317
|
17100010
|
100013707
|
0
|
6/13/2001
|
TANK 60 SEAL REPLACEMENT
|
Tank Farm
|
600
|
21317
|
24100016
|
100018838
|
0
|
12/31/2002
|
AUTOMATE VALVES ON PROPANE/BUTANE SYSTEM
|
Tank Farm
|
600
|
21317
|
25100004
|
100018898
|
0
|
12/27/2002
|
FUELS MANGER - TANK LEVEL/ALARM SYSTEM - SOFTWARE
|
Tank Farm
|
600
|
21317
|
27100014
|
100017445
|
0
|
7/8/2002
|
TANK 27 ROOF SEAL REPLACEMENT
|
Tank Farm
|
600
|
21317
|
35100007
|
100019016
|
0
|
3/3/2003
|
REPLACE ROOF INSULATION - TANK 34
|
Tank Farm
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21317
|
35100060
|
100036026
|
0
|
4/12/2004
|
TANK 11 FLOOR REPLACEMENT
|
Tank Farm
|
600
|
21317
|
35100073
|
100036027
|
0
|
4/19/2004
|
TANK 148 FLOOR AND SEAL REPLACEMENT
|
Tank Farm
|
600
|
21317
|
37100018
|
100034937
|
0
|
12/18/2003
|
AUTOMATE TANK 5 DEWATERING
|
Tank Farm
|
600
|
21317
|
37100018
|
100035076
|
0
|
1/1/2004
|
AUTOMATE TANK 5 DEWATERING
|
Tank Farm
|
600
|
21317
|
42100010
|
100037283
|
0
|
9/1/2005
|
RAIL LOADING RACK UPGRADES
|
Tank Farm
|
600
|
21317
|
42100010
|
100037284
|
0
|
9/1/2005
|
TANK FARM FIELD PIPING
|
Tank Farm
|
600
|
21317
|
45100007
|
100036276
|
0
|
6/30/2004
|
TANK 12 CONE ROOF AND FLOOR PLATE REPLACEMENT
|
Tank Farm
|
600
|
21317
|
45100027
|
100036505
|
0
|
10/4/2004
|
TANK 33 FLOOR REPLACEMENT
|
Tank Farm
|
600
|
21317
|
47100019
|
100037105
|
0
|
6/15/2005
|
DEWATERING INSTRUMENTATION - TANK 3
|
Tank Farm
|
600
|
21317
|
47100028
|
100037106
|
0
|
6/15/2005
|
DEWATERING INSTRUMENTATION - TANK 2
|
Tank Farm
|
600
|
21317
|
52100026
|
100040519
|
0
|
1/1/2008
|
USLD OFFSITE INFRASTRUCTURE UPGRADE- SHIPPING PUMP
|
Tank Farm
|
600
|
21317
|
52100026
|
100040520
|
0
|
1/1/2008
|
USLD OFFSITE INFRASTRUCTURE UPGRADE-LUBRICITY SKID
|
Tank Farm
|
600
|
21317
|
52100026
|
100040521
|
0
|
1/1/2008
|
USLD OFFSITE INFRASTRUCTURE-SHIPPING PUMP STAIRWAY
|
Tank Farm
|
600
|
21317
|
55100014
|
100037451
|
0
|
10/15/2005
|
TANK 36 FLOOR REPLACEMENT
|
Tank Farm
|
600
|
21317
|
55100014
|
100037452
|
0
|
10/15/2005
|
TANK 36 FLOOR REPLACEMENT - CP MONITORING SYSTEM
|
Tank Farm
|
600
|
21317
|
62100018
|
100038638
|
0
|
11/1/2006
|
BOTTOM - TANK 35
|
Tank Farm
|
600
|
21317
|
62100033
|
100038970
|
0
|
2/15/2007
|
TANK 9 SUCTION LINE
|
Tank Farm
|
600
|
21317
|
77100013
|
100039922
|
0
|
7/15/2007
|
TANK 54 SAAB TANK RADAR LEVEL GAUGE
|
Tank Farm
|
600
|
21317
|
77100018
|
100040969
|
0
|
7/15/2008
|
AGAR MOISTURE ANALYZER - TANK 3
|
Tank Farm
|
600
|
21317
|
77100018
|
100040970
|
0
|
7/15/2008
|
SOLARTRON DENSITOMETER ANALYZER - TANK 3
|
Tank Farm
|
600
|
21317
|
77100018
|
100040971
|
0
|
7/15/2008
|
AGAR MOISTURE ANALYZER - TANK 60
|
Tank Farm
|
600
|
21317
|
77100018
|
100040972
|
0
|
7/15/2008
|
SOLARTRON DENSITOMETER ANALYZER - TANK 60
|
Tank Farm
|
600
|
21317
|
77100032
|
100043432
|
0
|
3/1/2009
|
TANK 60 AUTOMATIC DEWATERING CONTROLS
|
Tank Farm
|
600
|
21317
|
82100001
|
100044771
|
0
|
1/10/2010
|
TANK 23 MOTOR OPERATED VALVES (MOV)
|
Tank Farm
|
600
|
21317
|
82100028
|
100044024
|
0
|
5/13/2009
|
16" CRUDE CUSTODY TRANSFER SONIC FLOW METER
|
Tank Farm
|
600
|
21317
|
84100013
|
100042604
|
0
|
11/15/2008
|
MOBILE SAFE ACCESS TTX SYSTEM - LADDER W/ PLATFORM
|
Tank Farm
|
600
|
21317
|
85100026
|
100044083
|
0
|
5/29/2009
|
REDUNDANT HIGH LEVEL ALARM - TANK 1
|
Tank Farm
|
600
|
21317
|
85100026
|
100044084
|
0
|
5/29/2009
|
REDUNDANT HIGH LEVEL ALARM - TANK 60
|
Tank Farm
|
600
|
21317
|
87100036
|
100047463
|
0
|
4/1/2011
|
CRUDE AGAR AND DENSITY ANALYZER
|
Tank Farm
|
600
|
21317
|
87100036
|
100047463
|
1
|
4/1/2011
|
CRUDE AGAR AND DENSITY ANALYZER
|
Tank Farm
|
600
|
21317
|
94100025
|
100045214
|
0
|
2/10/2010
|
MOV - CRUDE/BUNKER BLOCK VALVES TO WHARF
|
Tank Farm
|
600
|
21317
|
97100011
|
100045670
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 2
|
Tank Farm
|
600
|
21317
|
97100011
|
100045670
|
1
|
1/1/2011
|
REDUNDANT HIGH LEVEL ALARM - TANK 2
|
Tank Farm
|
600
|
21317
|
97100011
|
100045671
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 3
|
Tank Farm
|
600
|
21317
|
97100011
|
100045672
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 4
|
Tank Farm
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21317
|
97100011
|
100045673
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 5
|
Tank Farm
|
600
|
21317
|
97100011
|
100045674
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 26
|
Tank Farm
|
600
|
21317
|
97100011
|
100045675
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 91
|
Tank Farm
|
600
|
21317
|
97100011
|
100045676
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 114
|
Tank Farm
|
600
|
21317
|
97100011
|
100045677
|
0
|
3/15/2010
|
REDUNDANT HIGH LEVEL ALARM - TANK 171
|
Tank Farm
|
600
|
21317
|
112100016
|
100047908
|
0
|
6/1/2011
|
ASPHALT PLANT CRUDE RAILCAR UNLOADING FACILITY
|
Tank Farm
|
600
|
21317
|
112100016
|
100047908
|
1
|
1/1/2012
|
ASPHALT PLANT CRUDE RAILCAR UNLOADING FACILITY
|
Tank Farm
|
600
|
21317
|
112100041
|
100051108
|
0
|
9/5/2012
|
CROF - TANK TK-280 (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051108
|
1
|
1/1/2013
|
CROF - TANK TK-280 (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051109
|
0
|
9/5/2012
|
CROF - PIPE (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051109
|
1
|
1/1/2013
|
CROF - PIPE (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051109
|
2
|
1/1/2014
|
CROF - PIPE (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051110
|
0
|
9/5/2012
|
CROF - INSTRUMENTATION (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051110
|
1
|
1/1/2013
|
CROF - INSTRUMENTATION (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051111
|
0
|
9/5/2012
|
CROF - CATHODIC PROTECTION (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051111
|
1
|
1/1/2013
|
CROF - CATHODIC PROTECTION (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051117
|
0
|
9/5/2012
|
CROF - ELECTRICAL - OSBL (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
112100041
|
100051117
|
1
|
1/1/2013
|
CROF - ELECTRICAL - OSBL (INSIDE REFINERY)
|
Tank Farm
|
600
|
21317
|
134100023
|
100058365
|
0
|
9/22/2014
|
TRAILER MOUNTED FIRE MONITOR
|
Tank Farm
|
600
|
21317
|
142100013
|
100058504
|
0
|
10/26/2014
|
TANK 230 CONVERSION TO BUTANE SERVICE
|
Tank Farm
|
600
|
21317
|
142100013
|
100058504
|
1
|
3/1/2015
|
TANK 230 CONVERSION TO BUTANE SERVICE
|
Tank Farm
|
600
|
21317
|
147100005
|
100060118
|
0
|
1/1/2015
|
TANK 27 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060119
|
0
|
1/1/2015
|
TANK 28 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060120
|
0
|
1/1/2015
|
TANK 32 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060120
|
1
|
1/1/2016
|
TANK 32 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060121
|
0
|
1/1/2015
|
TANK 92 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060122
|
0
|
1/1/2015
|
TANK 30 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
147100005
|
100060123
|
0
|
1/1/2015
|
TANK 31 ANACORTES GASOLINE TANK MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
154100022
|
100071643
|
0
|
3/11/2016
|
PROPANE RELIEF SYSTEM
|
Tank Farm
|
600
|
21317
|
157100009
|
100072114
|
0
|
4/13/2016
|
KINDER MORGAN CRUDE CONTAINMENT
|
Tank Farm
|
600
|
21317
|
162100077
|
100076639
|
0
|
9/7/2017
|
JET TANKAGE INCREASE (TANK FARM)
|
Tank Farm
|
600
|
21317
|
164100003
|
100072673
|
0
|
6/1/2016
|
TANK 38
|
Tank Farm
|
600
|
21317
|
164100003
|
100072713
|
0
|
6/29/2016
|
TANK 37 ZONE C BUTANE STORAGE TANK 38 SAFETY IMP
|
Tank Farm
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21317
|
164100003
|
100072713
|
1
|
1/1/2017
|
TANK 37 ZONE C BUTANE STORAGE TANK 38 SAFETY IMP
|
Tank Farm
|
600
|
21317
|
164100007
|
100076573
|
0
|
8/1/2017
|
TK134,TK27,TK28,TK29 & TK92 MIXERS AND TAPS
|
Tank Farm
|
600
|
21317
|
67100039
|
100060113
|
0
|
3/23/2015
|
TANK 1 SAP#1254807 AUTOMATE TANK 1 DEWATERING
|
Tank Farm
|
600
|
21317
|
7W9210
|
100005261
|
0
|
9/1/1998
|
ASPHALT SALES PROJECT
|
Tank Farm
|
600
|
21317
|
7W9210
|
100005262
|
0
|
12/1/1998
|
ASPHALT SALES PROJECT
|
Tank Farm
|
600
|
21317
|
7Y1110
|
100005279
|
0
|
9/1/1998
|
NEW 12IN FLOATING SUCTION FOR TK8
|
Tank Farm
|
600
|
21317
|
7Y1110
|
100005280
|
0
|
12/1/1998
|
NEW 12IN FLOATING SUCTION FOR TK8
|
Tank Farm
|
600
|
21317
|
982100001
|
100007300
|
0
|
4/1/1999
|
ASPHALT SALES PROJECT
|
Tank Farm
|
600
|
21317
|
985100007
|
100006944
|
0
|
4/30/1999
|
CLEAN/REPAIR TANK 9
|
Tank Farm
|
600
|
21317
|
992100004
|
100011672
|
0
|
1/31/2000
|
HIGH SULFUR DIESEL DYE INJECTION SYSTEM
|
Tank Farm
|
600
|
21317
|
992100008
|
100011422
|
0
|
1/15/2000
|
DEDICATED DIESEL LINE TO WHARF
|
Tank Farm
|
600
|
21317
|
992100020
|
100011673
|
0
|
5/31/2000
|
ASPHAULT ANTI-STRIP INJECTION
|
Tank Farm
|
600
|
21317
|
992100022
|
100011428
|
0
|
1/12/2000
|
LOW SULFUR TO HIGH SULFUR DIESEL CROSSOVER
|
Tank Farm
|
600
|
21317
|
994100001
|
100011430
|
0
|
1/17/2000
|
RUNDOWN LINE - TEMPERATURE INDICATORS
|
Tank Farm
|
600
|
21317
|
995100002
|
100011188
|
0
|
7/1/1999
|
MIXER FOR TANK 29
|
Tank Farm
|
600
|
21317
|
995100003
|
100011238
|
0
|
10/7/1999
|
TK38 RADAR LEVEL TRANSMITTER
|
Tank Farm
|
600
|
21317
|
995100005
|
100011244
|
0
|
7/1/1999
|
CC FD TK 2-FLOOR R
|
Tank Farm
|
600
|
21317
|
995100023
|
100011250
|
0
|
10/1/1999
|
TANK 19 SEAL REPLACEMENT
|
Tank Farm
|
600
|
21317
|
995100024
|
100012256
|
0
|
2/7/2000
|
TANK 29 FLOOR REPLACEMENT
|
Tank Farm
|
600
|
21317
|
995100025
|
100012118
|
0
|
6/30/2000
|
REPLACE OVERHEAD TRANSFORMER CONNECTIONS
|
Tank Farm
|
600
|
21317
|
995100026
|
100012119
|
0
|
9/30/2000
|
REPLACE FEEDER # 242 IN TANK FARM
|
Tank Farm
|
600
|
21317
|
997100004
|
100011251
|
0
|
10/1/1999
|
TK4 SECONDARY SEALS
|
Tank Farm
|
600
|
21317
|
997100004
|
100011366
|
0
|
1/1/2000
|
TK4 SECONDARY SEALS
|
Tank Farm
|
600
|
21317
|
997100006
|
100011242
|
0
|
11/1/1999
|
TK21 SECONDARY SEALS
|
Tank Farm
|
600
|
21317
|
997100006
|
100011364
|
0
|
1/1/2000
|
TK21 SECONDARY SEALS
|
Tank Farm
|
600
|
21317
|
997100007
|
100011441
|
0
|
2/29/2000
|
1999 SECONDARY SEALS-TANK 22
|
Tank Farm
|
600
|
21317
|
DTKRS.0600.2014
|
900002284
|
0
|
7/2/2014
|
TANK 32 -PRIMARY AND SECONDARY SEALS
|
Tank Farm
|
600
|
21317
|
DTKRS0600201101
|
900001739
|
0
|
8/15/2011
|
TANK 22 FLOOR RESTORATION
|
Tank Farm
|
600
|
21317
|
DTKRS0600201401
|
900002285
|
0
|
7/2/2014
|
TANK 32-ROOF DRAIN
|
Tank Farm
|
600
|
21317
|
DTKRS0600201401
|
900002286
|
0
|
7/2/2014
|
TANK 32-REPLACEMENT FLOOR
|
Tank Farm
|
600
|
21317
|
DTKRS0600201403
|
900002390
|
0
|
10/31/2014
|
TANK 27 RESTORATION
|
Tank Farm
|
600
|
21317
|
DTKRS0600201403
|
900002390
|
1
|
7/31/2015
|
TANK 27 RESTORATION
|
Tank Farm
|
600
|
21317
|
DTKRS0600201404
|
900002602
|
0
|
4/30/2015
|
TANK 1 SAP #1254807
|
Tank Farm
|
600
|
21317
|
DTKRS0600201404
|
900002602
|
1
|
1/1/2016
|
TANK 1 SAP #1254807
|
Tank Farm
|
600
|
21317
|
DTKRS0600201502
|
900002791
|
0
|
12/29/2015
|
TANK 28 RESTORATION
|
Tank Farm
|
600
|
21317
|
DTKRS0600201502
|
900002791
|
1
|
1/1/2016
|
TANK 28 RESTORATION
|
Tank Farm
|
600
|
21317
|
DTKRS0600201601
|
900003144
|
0
|
8/15/2016
|
TK134 REGULAR UNLEADED STORAGE TANK
|
Tank Farm
|
600
|
21317
|
7Y0410
|
100005271
|
0
|
8/1/1998
|
CLEAN,INSPECT & REPAIR TK 89
|
Tank Farm
|
CoCd
|
Cost Ctr
|
AFE #
|
Asset
|
SNo.
|
Cap.date
|
Asset description
|
Location
|
600
|
21338
|
62100005
|
100045025
|
0
|
1/1/2010
|
(5) PERSONAL COMPUTERS - MCS GASOLINE BLENDER UPGR
|
Blender
|
600
|
21338
|
62100005
|
100045028
|
0
|
1/1/2010
|
PROCESS CONTROL EQUIP - MCS GASOLINE BLENDING UPGR
|
Blender
|
600
|
21338
|
75100027
|
100041284
|
0
|
10/15/2008
|
CONCRETE CONTAINMENT PAD @ CAUSTIC UNLOAD FACILITY
|
Blender
|
600
|
21338
|
984100002
|
100007302
|
0
|
8/1/1999
|
HEATED EYE WASH STATIONS IN CHEMICAL TANK AREA (3)
|
Blender
|
600
|
21338
|
994100004
|
100011431
|
0
|
1/1/2000
|
BLENDING - REPLACE 2400V MOTOR STARTERS
|
Blender
|
TESORO LOGISTICS OPERATIONS LLC
By:
/s/ STEVEN M. STERIN
Steven M. Sterin
President and Chief Financial Officer
ANDEAVOR LOGISTICS LP
By: TESORO LOGISTICS GP, LLC,
its general partner
By:
/s/ STEVEN M. STERIN
Steven M. Sterin
President and Chief Financial Officer
TESORO LOGISTICS GP, LLC
By:
/s/ STEVEN M. STERIN
Steven M. Sterin
President and Chief Financial Officer
|
TESORO REFINING & MARKETING COMPANY
LLC
By:
/s/ GREGORY J. GOFF
Gregory J. Goff
President
|
TANK NUMBER
|
SHELL CAPACITY (in Barrels)
|
1
|
139,800
|
2
|
139,800
|
3
|
139,800
|
4
|
140,200
|
5
|
139,800
|
6
|
136,800
|
7
|
136,800
|
8
|
76,300
|
9
|
77,300
|
10
|
51,600
|
11
|
76,200
|
12
|
74,200
|
13
|
60,900
|
14
|
73,300
|
15
|
51,600
|
16
|
51,600
|
17
|
51,600
|
18
|
51,600
|
19
|
11,490
|
20
|
22,200
|
21
|
27,800
|
22
|
27,800
|
23
|
28,900
|
24
|
65,600
|
25
|
28,700
|
26
|
77,600
|
27
|
24,400
|
28
|
27,800
|
29
|
74,300
|
30
|
27,800
|
31
|
27,800
|
32
|
74,100
|
33
|
28,300
|
34
|
OOS
|
35
|
77,300
|
36
|
77,300
|
37
|
10,900
|
38
|
10,900
|
TANK NUMBER
|
SHELL CAPACITY (in Barrels)
|
45
|
281
|
46
|
OOS
|
47
|
OOS
|
48
|
OOS
|
53
|
952
|
54
|
952
|
55
|
OOS
|
56
|
424
|
60
|
140,300
|
62
|
OOS
|
88
|
OOS
|
89
|
OOS
|
90
|
OOS
|
91
|
27,900
|
92
|
141,600
|
95
|
OOS
|
98
|
OOS
|
99
|
OOS
|
109
|
488
|
110
|
OOS
|
113
|
27,900
|
114
|
115,900
|
115
|
488
|
134
|
87,800
|
138
|
281
|
142
|
142,500
|
147
|
OOS
|
148
|
137,300
|
156
|
NA
|
157
|
NA
|
158
|
NA
|
159
|
OOS
|
160
|
1,924
|
171
|
124,700
|
180
|
NA
|
202
|
182,800
|
203
|
182,800
|
221
|
NA
|
222
|
NA
|
223
|
NA
|
224
|
NA
|
TANK NUMBER
|
SHELL CAPACITY (in Barrels)
|
225
|
NA
|
226
|
NA
|
227
|
NA
|
228
|
NA
|
229
|
NA
|
230
|
29,900
|
231
|
101,300
|
232
|
OOS
|
247
|
15,600
|
248
|
16,400
|
249
|
OOS
|
241 A
|
NA
|
241 B
|
NA
|
255
|
NA
|
280
|
NA
|
801
|
896
|
802
|
896
|
803
|
896
|
804
|
896
|
866
|
713
|
867
|
713
|
877
|
NA
|
1.
|
I have reviewed this
Quarterly
Report on Form
10-Q
of Andeavor Logistics LP;
|
2.
|
Based on my knowledge, this
quarterly
report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
quarterly
report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this
quarterly
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this
quarterly
report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
quarterly
report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this
quarterly
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this
quarterly
report based on such evaluation; and
|
(d)
|
Disclosed in this
quarterly
report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
May 7, 2018
|
/s/ GREGORY J. GOFF
|
|
|
Gregory J. Goff
|
|
|
Chief Executive Officer of Tesoro Logistics GP, LLC
|
|
|
(the general partner of Andeavor Logistics LP)
|
1.
|
I have reviewed this
Quarterly
Report on Form
10-Q
of Andeavor Logistics LP;
|
2.
|
Based on my knowledge, this
quarterly
report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
quarterly
report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this
quarterly
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this
quarterly
report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
quarterly
report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this
quarterly
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this
quarterly
report based on such evaluation; and
|
(d)
|
Disclosed in this
quarterly
report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
May 7, 2018
|
/s/ STEVEN M. STERIN
|
|
|
Steven M. Sterin
|
|
|
Chief Financial Officer of Tesoro Logistics GP, LLC
|
|
|
(the general partner of Andeavor Logistics LP)
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.
|
/s/ GREGORY J. GOFF
|
|||
Gregory J. Goff
|
|||
Chief Executive Officer of Tesoro Logistics GP, LLC
(the general partner of Andeavor Logistics LP)
|
|||
May 7, 2018
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.
|
/s/ STEVEN M. STERIN
|
|||
Steven M. Sterin
|
|||
Chief Financial Officer of Tesoro Logistics GP, LLC
(the general partner of Andeavor Logistics LP)
|
|||
May 7, 2018
|