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Subsequent Events (Notes)
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
19. Subsequent Events
On October 30, 2015 (the “Purchase Date”), we acquired Western's remaining 375 mile segment of the TexNew Mex Pipeline system that extends from our crude oil station in Star Lake, New Mexico, in the Four Corners region to our T station in Eddy County, New Mexico (the "Contributed TexNew Mex Pipeline"). We also acquired an 80,000 barrel crude oil storage tank located at our crude oil pumping station in Star Lake, New Mexico and certain other related assets. We acquired these assets in exchange for $170 million in cash and 421,031 common units representing limited partner interests in WNRL.
In connection with the closing, we also entered into an amendment to our Pipeline and Gathering Services Agreement with Western (the "Amendment to the Pipeline Agreement"). The Amendment to the Pipeline Agreement amends the scope of the existing agreement to include the provision of storage services and a minimum volume commitment of 80,000 barrels of storage at the Star Lake storage tank and the provision of transportation services to Western where it has agreed to provide a minimum volume commitment of 13,000 bpd of crude oil for shipment on the Contributed TexNew Mex Pipeline for 10 years from the date of the Amendment to the Pipeline Agreement. We also amended our limited partnership agreement with Western whereby we will issue to Western a new class of WNRL partnership interests, in connection with the acquisition, that entitle Western to 80% of the economics resulting from crude oil throughput on the Contributed TexNew Mex Pipeline above 13,000 bpd. We will be entitled to 20% of the economics resulting from crude oil throughput on the TexNew Mex pipeline above the 13,000 bpd minimum volume commitment.
We funded the cash consideration through $145.0 million in new borrowings under our Revolving Credit Facility and $25.0 million from cash on hand. Subsequent to the Purchase Date, we had $155.0 million available under our Revolving Credit Facility. As required for accounting purposes, we recorded the acquired assets at the historical book value as the transaction was between entities under common control.