From Oklahoma-based Rose Rock Midtrseam today:
TULSA, Okla., June 5, 2014 (GLOBE NEWSWIRE) -- Rose Rock Midstream, L.P. (NYSE:RRMS) today announced that it has executed a definitive agreement to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corporation (NYSE:CHK). The transaction is expected to close during the second quarter of 2014 and is subject to customary closing conditions.
Following the close of the acquisition, Rose Rock will operate 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.
"Crude oil trucking continues to be a crucial element of midstream infrastructure," said Carlin Conner chief executive officer of Rose Rock Midstream's general partner. "We anticipate this acquisition will be immediately accretive and synergistic to our existing field services business, while expanding our footprint and scale further into highly attractive areas."
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.
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