SemGroup completes storage acquisition
Jun 13, 2008 12:51 PM
SemGroup Energy Partners LP, Tulsa OK, has completed the previously announced acquisition of eight recently constructed crude oil storage tanks located at the Cushing Interchange from SemCrude LP for $90 million, according to company information.
SemCrude is a subsidiary of privately owned SemGroup LP. The acquisition increases total storage capacity to more than 15-million barrels. Almost seven-million barrels of the storage is within the Cushing Interchange, one of the largest crude oil marketing hubs in the United States, SemGroup said.
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