SemGroup Closes On Chesapeake Midstream Assets

September 2013, Vol. 240 No. 9

SemGroup Corp. completed its acquisition of the gas gathering and processing assets owned by Chesapeake Energy Corp. in the Mississippi Lime play for $300 million in cash.

Acquisition highlights include 200 miles of gathering pipeline; Rose Valley I plant; a 200 MMcfd cryogenic processing plant expected to be operational first quarter of 2014; the Rose Valley II plant, which includes a 200-MMcf/d cryogenic processing plant expected to be operational first quarter of 2016; a 540,000-net acre dedication in the core of the Mississippi Lime play; and a 20-year gas-gathering and processing agreement.

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