SemGroup, L.P. (“SemGroup”)
announced its plans to evaluate offers to sell its wholly-owned
subsidiary, SemLogistics Milford Haven Limited (“SemLogistics”),
which operates the largest independent fuel storage facility in the
United Kingdom. Located in Milford Haven on the west coast of Wales, the
facility provides 8.5 million barrels of commercially active storage
capacity and serves markets in Europe, the eastern United States and
Africa. SemLogistics is not included in SemGroup’s
chapter 11 filing in the United States.
The Blackstone Group (“Blackstone”),
SemGroup’s financial advisor, has begun to
solicit interest for the facility. Interested parties may contact Raffiq
Nathoo or Peter Laurinaitis of Blackstone in New York at 212-583-5000.
SemLogistics’ terminal includes the following
features:
Fifty-two commercially active above-ground tanks capable of storing a
wide variety of petroleum products - from crude oil to refined
products (gasoline, jet fuel and diesel fuel) - with permitting in
place to expand;
Deep-water port and two jetties that can accommodate vessels up to
165,000 dead-weight tons, and access to rail and pipeline;
Proven track record of stable cash flows; and
More than $50 million invested by SemGroup since 2006 to refurbish and
upgrade the tank infrastructure.
About SemGroup
SemGroup is a midstream service company providing the energy industry
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 serves customers in the
United States, Canada, Mexico and Wales.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or sale of any securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such