Rose Rock Midstream Closed Transaction to Acquire Transportation Assets From Chesapeake
June 24 2014 - 8:41AM
Rose Rock Midstream, L.P. (NYSE:RRMS) today announced that it has
closed the transaction to acquire crude oil trucking assets from a
subsidiary of Chesapeake Energy Corporation (NYSE:CHK).
Acquisition Highlights
- Includes 124 trucks, 122 trailers and miscellaneous equipment
operating in Texas, Oklahoma and Ohio;
- Approximately 200 employees; and
- Term transportation agreement at market rates with Chesapeake
Energy Marketing, Inc., a wholly owned subsidiary of
Chesapeake
Following the close of the acquisition, Rose Rock now operates a
fleet of more than 250 trucks with approximately 350 employees,
servicing the Bakken, DJ / Niobrara, Eagle Ford, Granite Wash,
Mississippi Lime, Permian, San Juan and Utica plays.
About Rose Rock Midstream
Rose Rock Midstream®, L.P. (NYSE:RRMS) is a growth-oriented
Delaware limited partnership formed by SemGroup® Corporation
(NYSE:SEMG) to own, operate, develop and acquire a diversified
portfolio of midstream energy assets. Headquartered in Tulsa, OK,
Rose Rock Midstream provides crude oil gathering, transportation,
storage and marketing services with the majority of its assets
strategically located in or connected to the Cushing, Oklahoma
crude oil marketing hub.
Forward-Looking Statements
Certain matters contained in this Press Release include
"forward-looking statements." All statements, other than statements
of historical fact, included in this Press Release may constitute
forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, we cannot assure you that these expectations will prove
to be correct. These forward-looking statements are subject to
certain known and unknown risks and uncertainties, as well as
assumptions that could cause actual results to differ materially
from those reflected in these forward-looking statements. Factors
that might cause actual results to differ include, but are not
limited to, the risk factors discussed from time to time in each of
our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any
forward-looking statements contained in this Press Release, which
reflect management's opinions only as of the date hereof. Except as
required by law, we undertake no obligation to revise or publicly
release the results of any revision to any forward-looking
statements.
CONTACT: Investor Relations:
Alisa Perkins
918-524-8081
roserockir@rrmidstream.com
Media:
Kiley Roberson
918-524-8594
kroberson@rrmidstream.com
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