Not every piece of SemGroup, L.P. was included in the company’s Chapter 11 filing back in July. The company’s publicly traded midstream subsidiary, SemGroup Energy Partners LP (NASDAQ:SGLP), was spared, as was SemGroup’s SemLogistics Milford Haven subsidiary in England.
Now, though, SemGroup is looking for a buyer for the largest petroleumstorage facility in England. Milford Haven has 8.5 million barrels ofstorage for everything from crude oil to refined products and SemGroupis offering if for sale through The Blackstone Group (NYSE:BX).SemLogistics is not included in the Chapter 11 proceedings, but there’snot much doubt what this sale is all about, is there?
Paul Ausick
October 16, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.