M&A Deal Summary

SemGroup Acquires Chesapeake Energy - Mississippi Lime Midstream Assets

On August 1, 2013, SemGroup acquired oil/gas exploration company Chesapeake Energy - Mississippi Lime Midstream Assets from Chesapeake Energy for 300M USD

Acquisition Highlights
  • This is SemGroup’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is SemGroup’s largest (disclosed) transaction.
  • This is SemGroup’s 2nd transaction in the United States.
  • This is SemGroup’s 1st transaction in Mississippi.

M&A Deal Summary

Date 2013-08-01
Target Chesapeake Energy - Mississippi Lime Midstream Assets
Sector Oil/Gas Exploration
Buyer(s) SemGroup
Sellers(s) Chesapeake Energy
Deal Type Divestiture
Deal Value 300M USD

Target

Chesapeake Energy - Mississippi Lime Midstream Assets

Mississippi, United States
Chesapeake Energy - Mississippi Lime Midstream Assets consists of: Rose Valley I plant: 200 mmcfd cryogenic processing plant, expected to be operational first quarter 2014 and Rose Valley II plant: 200 mmcfd cryogenic processing plant, expected to be operational first quarter 2016.

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Buyer(S) 1

Buyer

SemGroup

Tulsa, Oklahoma, United States

Category Company
Founded 2000
Sector Energy Services and Equipment
Employees880
Revenue 2.5B USD (2018)
DESCRIPTION

SemGroup Corp. moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals with import and export capabilities. SemGroup serves as a versatile connection between upstream oil and gas producers and downstream refiners and end-users. Key areas of operation and growth include western Canada, the Mid-Continent and the Gulf Coast. SemGroup is committed to safe, environmentally sound operations. Headquartered in Tulsa, Okla., the company has additional offices in Calgary, Alberta; Denver, Colo.; and Houston, Texas. SemGroup uses its Investor Relations website and social media outlets as channels of distribution of material company information. SemGroup Corporation was founded in 2000 and is headquartered in Tulsa, Oklahoma.


DEAL STATS #
Overall 2 of 5
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 1 of 1
State (Mississippi) 1 of 1
Country (United States) 2 of 4
Year (2013) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-06 Sherman Gathering System

Dallas, Texas, United States

Sherman Gathering System operates a natural gas processing plant in Sherman.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-09 SemGroup - Crude Oil Assets

Tulsa, Oklahoma, United States

SemGroup Corp. - Crude Oil Assets includes the Wattenberg Oil Trunkline System and SemGroup's 50% interest in the Glass Mountain Pipeline.

Sell $325M

Seller(S) 1

SELLER

Chesapeake Energy

Oklahoma City, Oklahoma, United States

Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City.


DEAL STATS #
Overall 5 of 9
Sector (Oil/Gas Exploration) 5 of 6
Type (Divestiture) 5 of 8
State (Mississippi) 1 of 1
Country (United States) 5 of 9
Year (2013) 2 of 2
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-03 Chesapeake Marcellus Acreage and Wells

Pennsylvania, United States

Chesapeake Marcellus Acreage and Wells comprises roughly 99,000 net acres in southwestern Pennsylvania and 10 horizontal Marcellus wells.

Sell $113M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-19 Twin Eagle

Spring, Texas, United States

Twin Eagle is in the oil and gas midstream business and engages in the logistics and wholesale marketing of crude, natural gas, power, and environmental products throughout North America. Twin Eagle was founded in 2010 and is based in Spring, Texas.

Sell -