SemCrude®, L.P., a subsidiary of SemGroup® Corporation (NYSE:SEMG), announced today the expansion of its Platteville, CO truck unloading terminal as part of an agreement with Anadarko Petroleum Corporation. The expansion of the Platteville unloading terminal will increase capacity by up to 60%, and is designed to support Anadarko’s anticipated increase in production in the region.
The Platteville Terminal, located northeast of Denver, is the origination point of the White Cliffs Pipeline, a 526-mile crude oil pipeline terminating in Cushing, OK. Crude oil from the Denver-Julesberg basin is currently delivered to SemCrude’s Platteville Terminal via transport trucks and unloaded through 10 existing truck bays. The expansion is expected to be complete by the end of 2012.
“Significant, increased demand continues for transporting crude through the White Cliffs Pipeline,” said Pete Schwiering, President of SemCrude. “We are excited about this expansion and working with Anadarko to meet its rising production needs.”
About SemCrudeBased in Oklahoma City, OK, SemCrude®, L.P., a subsidiary of SemGroup® Corporation, gathers, transports, stores, markets and distributes crude oil. SemCrude’s business consists of four primary operations: White Cliffs Pipeline, the Cushing storage facility, a system of pipelines in Kansas and Oklahoma and storage in North Dakota. About SemGroup Based in Tulsa, Oklahoma, SemGroup® Corporation is a publicly traded midstream service company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. SemGroup provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products and asphalt. Services include purchasing, selling, processing, transporting, terminalling and storing energy. SemGroup®, SemCrude® and White Cliffs Pipeline® are registered trademarks of SemGroup Corporation. Forward-Looking Statements Certain matters contained in this Press Release include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV