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Slide #40. Rose Rock Midstream, L.P. — Additional Interest in White Cliffs Pipeline From SemGroup Corporation
Rose Rock Midstream, L.P. (RRMS)
Additional Interest in White Cliffs Pipeline From SemGroup Corporation
Rose Rock Midstream, L.P. (NYSE:RRMS) and SemGroup Corporation (NYSE:SEMG) announced today that Rose Rock has acquired from SemGroup an additional one-third interest in SemCrude Pipeline, L.L.C., which owns a 51 percent interest in White Cliffs Pipeline L.L.C. for $275 million. Rose Rock now owns a 67 percent interest in SemCrude Pipeline and indirectly owns a 34 percent interest in White Cliffs Pipeline.
Rose Rock Midstream owns, operates, develops and acquires a portfolio of midstream energy assets. Co. is engaged in the business of crude oil gathering, transportation, storage, distribution and marketing in Colorado, Kansas, Minnesota, Montana, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas and Wyoming. Co. operates in the Bakken Shale in North Dakota and Montana, the Denver-Julesburg and the Niobrara Shale in the Rocky Mountain region, and the Granite Wash and Mississippi Lime Play in the Mid-Continent region. Co. is managed and operated by its general partner, Rose Rock Midstream GP, LLC. Co.'s operations are conducted through its subsidiary, Rose Rock Midstream Operating, LLC.
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Hold (2.25 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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