“We are pleased to be expanding our portfolio of midstream assets with strong industry partners,” explained Tom Ramsey, chief operating officer of Energy at Gavilon. “New crude oil discoveries in the U.S. necessitate additional infrastructure and supply chain management expertise to serve producers and consumers, which has been the focus of growth for Gavilon’s energy segment.”
“Strong crude prices continue to provide attractive economics for producers in these plays,” said Mike Stice, senior vice president of Chesapeake Energy Corporation. “We are excited about this expansion and working with SemGroup and Gavilon to accommodate the increase in production. This pipeline will further improve the upstream economics of Chesapeake Energy Corporation by providing a lower-cost transportation alternative to move production from the field to downstream markets at the Cushing interchange, and will provide the same economic advantage to other producers in these drilling plays.”
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®, is a registered trademark of SemGroup Corporation. About Gavilon Midstream Energy, LLC Gavilon Midstream Energy, LLC is a subsidiary of The Gavilon Group, LLC. The Gavilon Group is a leading commodity management firm, connecting producers and consumers of feed, food and fuel through its global supply chain network. Gavilon leverages its strategic partnerships and more than 300 facilities and regional offices worldwide to link agricultural and energy supply with demand. The company provides origination, storage and handling, transportation and logistics, marketing and distribution, and risk management services to tens of thousands of customers each year. Headquartered in Omaha, Nebraska, Gavilon employs 2,000 people around the world and is ranked America’s nineteenth largest private company by Forbes. For more information, please visit www.gavilon.com. About Chesapeake Energy Corporation Chesapeake Energy Corporation (NYSE:CHK) is the second-largest producer of natural gas, a Top 15 producer of oil and natural gas liquids and the most active driller of new wells in the U.S. Headquartered in Oklahoma City, the company's operations are focused on discovering and developing unconventional natural gas and oil fields onshore in the U.S. Chesapeake owns leading positions in the Barnett, Haynesville, Bossier, Marcellus and Pearsall natural gas shale plays and in the Granite Wash, Cleveland, Tonkawa, Mississippi Lime, Bone Spring, Avalon, Wolfcamp, Wolfberry, Eagle Ford, Niobrara, Three Forks/Bakken and Utica unconventional liquids plays. The company has also vertically integrated its operations and owns substantial midstream, compression, drilling, trucking, pressure pumping and other oilfield service assets directly and indirectly through its subsidiaries Chesapeake Midstream Development, L.P. and Chesapeake Oilfield Services, L.L.C. and its affiliate Chesapeake Midstream Partners, L.P. (NYSE:CHKM). Further information is available at www.chk.com where Chesapeake routinely posts announcements, updates, events, investor information, presentations and news releases. 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.
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