Western Refining Logistics, LP
WNRL
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- Western Refining Logistics, LP (WNRL) owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets in the Southwestern United States, providing terminalling, transportation, storage, and distribution services for crude oil, refined products, feedstock, and asphalt. Its pipeline and gathering assets encompass approximately 685 miles of crude oil pipelines and gathering systems, 8.2 million barrels of active storage capacity, 31 crude oil storage tanks with 828,000 barrels of shell storage capacity, 8 truck loading and unloading locations, and 15 pump stations; terminalling and storage assets include facilities at the El Paso and Gallup refineries, refined products terminals in Bloomfield and Albuquerque, New Mexico, and an asphalt plant and terminal in El Paso offering terminalling and processing services. The company generates fee-based revenues from transporting crude oil and refined products through its pipelines and terminals and from storage services at its tanks and facilities, primarily serving refining, marketing, and upstream customers in crude oil production basins such as the Permian Basin and Southern New Mexico. Founded in 2013 and historically headquartered in El Paso, Texas, with subsequent references to San Antonio, Texas, WNRL operated as a subsidiary of Western Refining, Inc., targeting markets in Texas, New Mexico, Arizona, and northern Mexico. In October 2017, Andeavor Logistics LP completed the acquisition of WNRL in a unit-for-unit merger transaction valued at approximately $1.7 billion enterprise value, including the assumption of $280 million in net debt, integrating WNRL's assets into Andeavor Logistics to expand midstream operations in the Permian Basin and related regions; this followed Tesoro Corporation's (later Andeavor) $6.4 billion acquisition of Western Refining in 2017. Subsequently, Andeavor Logistics merged into MPLX LP, a subsidiary of Marathon Petroleum Corporation, in a 2019 unit-for-unit transaction valued at $14 billion enterprise value, with WNRL's logistics assets now operating within Marathon Petroleum's broader midstream portfolio under MPLX.