Tesoro Corp. Completes USA Petroleum Purchase

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Tesoro Corp. Completes USA Petroleum Purchase

05/02/2007
SAN ANTONIO -- Tesoro Corp., a petroleum refiner, marketer and operator of more than 600 convenience stores, completed the purchase of 139 USA Petroleum c-stores for $273 million, including an estimated $6.5 million in inventories from USA Petroleum Corp.

As of yesterday, Tesoro assumed operational control of the retail assets. The 138 locations include 130 stations in California, six stores in the Pacific Northwest and two truck stops in New Mexico. The stations average 185,000 gallons per month and most include the underlying real estate, according to the company.