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SemGroup, Gavilon Raise Glass Mountain Pipeline Stake

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October 11, 2012

SemGroup Corp. (NYSE: SEMG), and Gavilon LLC announced that each has completed the acquisition of a 25% share of Glass Mountain Pipeline LLC, previously owned by an affiliate of Chesapeake Energy Corp. (NYSE: CHK).

Following this purchase, SemGroup Corp. now owns 50% of Glass Mountain Pipeline; the remaining 50% of the pipeline is now owned by Gavilon. Chesapeake will maintain its long-term transportation agreement with Glass Mountain Pipeline, providing the economic incentive for its construction.

The Glass Mountain Pipeline will have an initial capacity of approximately 140,000 b/d and 440,000 ...

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