SemGroup Buys 3 Texas Product Terminals
03.08.2008 - NEWS
SemGroup Subsidiaries Buy 3 Terminals and Oklahoma Pipeline From Explorer for Undisclosed Sum March 07, 2008: 05:09 PM EST

NEW YORK (Associated Press) – SemGroup LP said Friday that two of its subsidiaries acquired assets from Explorer Pipeline.

Terms of the deal were not disclosed.

SemFuel LP acquired three refined product terminals in Texas from Explorer. One terminal in Fort Worth is operational, while the other two in Bryan and North Houston are expected to become operational during the second quarter.

SemFuel said the addition of the terminals expands its marketing presence and storage capacity in the Midwest, Gulf Coast and Dallas-Fort Worth regions.

SemCrude LP also acquired a 130-mile, 8-inch pipeline in Oklahoma that was part of Explorer’s 8-inch product system originating in Texas.

SemGroup LP is the parent company of SemGroup Energy Partners LP, a provider of crude oil gathering, transportation and storage services.

Shares of SemGroup Energy Partners rose 24 cents to close at $25.49

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