Western Refining Making a Splash in Minnesota
This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.
Shares of Western Refining (NYSE: WNR) soared after the company acquired the general partner interest and 38.7% of the limited partnership of Northern Tier Energy LP . The move was beneficial in two ways. First, Western Refining is diversifying its business, adding a new geographic area to its portfolio and significantly increasing its total refining capacity. Second, while Northern Tier is still a one-trick pony with one Minnesota refinery, Western will be adding capacity that is strategically located to access cheap crude oil from the Williston Basin in nearby North Dakota.
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The article Western Refining Making a Splash in Minnesota originally appeared on Fool.com.
Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of Western Refining. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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