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Tulsa-based SemGroup Energy Partners buys pipeline from SemCrude
Journal Record, The (Oklahoma City), May 16, 2008
SemGroup Energy Partners has purchased the Eagle North Pipeline System from SemCrude for $45 million.
The a 130-mile, 8-inch pipeline originates in Ardmore and ends Drumright.
SemCrude is a subsidiary of privately-owned SemGroup LP.
"This expansion of SemGroup Energy's asset base will provide crude oil producers an important link to the Cushing Interchange," said Kevin Foxx, president and CEO of SemGroup Energy Partners.
Tulsa-based SemGroup Energy plans to invest up to $3.5 million to convert the pipeline to a crude oil pipeline and to construct a 10- mile, 6-inch pipeline from Drumright to Cushing.
Copyright 2008 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.
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