Tesoro Logistics LP, a fee-based LP recently formed by oil refiner Tesoro Corporation (NYSE: TSO) to own crude oil and refined products logistics assets, filed on Tuesday with the SEC to raise up to $230 million in an initial public offering. The San Antonio, TX-based company, which booked $91 million in pro forma sales last year, will own initial assets consisting of a crude oil gathering system in North Dakota and Montana, eight refined products terminals in the Midwest and a crude oil and refined products storage facility and five related pipelines in Utah. The LP plans to list on the NYSE under the symbol TLLP. Citi is the lead underwriter on the deal, for which pricing terms and timing were not disclosed.
