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Rose Rock Midstream Closed Transaction To Acquire Transportation Assets From Chesapeake

Stocks in this article: RRMS

TULSA, Okla., June 24, 2014 (GLOBE NEWSWIRE) -- 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.

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