SemGroup

SemGroup

History

SemGroup LP was founded in February 2001. On July 9, 2007 SemGroup announced that it would establish a publicly traded affiliate, SemGroup Energy Partners LP, who would be traded on NASDAQ, under the symbol SGLP.cite news
date=2007-07-09
url=http://tulsaworld.com/news/article.aspx?articleID=070709_5__Tulsa78751&breadcrumb=Breaking%20News
title=SemGroup nears IPO| publisher=Tulsa World
author= John Stancavage
accessdate=2007-07-09]

On Mid-July, 2008, SemGroup ran into liquidity problems related to its oil-hedging program and warned it may have to file for bankruptcy as part of a financial restructuring. Adding to SemGroup's troubles, hedge funds run by Alerian Capital Management and Elliot Associates exercised the terms of a secured loan made to SemGroup and took over the general partnership interest in SemGroup Energy Partners LP. On July 22, 2008 Semgroup, LP filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Wilmington, Delaware.Fact|date=August 2008 The company listed both debts and assets of more than US$1 billion.

Activities

SemGroup LP is engaged in diversified services for the North American crude oil and refined products industry. Operations include gathering, transporting, marketing and hedging services. SemGroup owns and operates carrier pipelines, oil transport and service trucks, pipeline injection stations and terminal storage in Oklahoma, Louisiana, Kansas and Texas. Canadian operations are located in Alberta, British Columbia, and Saskatchewan. The company is based in Tulsa, Oklahoma, USA.

emMaterials

SemMaterials is the division of SemGroup primarily responsible for asphalt and emulsion production. The division head head is Frank Panzer.

Leadership team

*Terry Ronan - Acting President and Chief Executive Officer
*Thomas L. Kivisto - Former President and Chief Executive Officer
*Kevin L. Foxx - Executive Vice President and Chief Operating Officer
*Gregory C. Wallace - Vice President, Chief Financial Officer and Secretary
*Brent Cooper - Corporate Treasurer
* Roberto Garza Cabello - General Manager Mexico
*Alex Stallings - Chief Accounting Officer
*Michael Brochetti - Senior Vice President, Finance
*Don Spaugy - Vice President, Financial Services
*Mickey Euliss - Corporate Controller

References

External links

* [http://www.semgrouplp.com Official website]


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