Akin Gump Advises Rose Rock Midstream in $300 Million Pipeline Acquisition
(Houston) – Akin Gump advised the conflicts committee of the board of directors of Rose Rock Midstream, L.P.’s general partner in the partnership’s $300 million acquisition of SemGroup Corporation’s remaining one-third interest in SemCrude Pipeline, L.L.C., which owns a 51 percent interest in White Cliffs Pipeline L.L.C. Rose Rock now owns a 100 percent interest in SemCrude Pipeline and indirectly owns a 51 percent interest in White Cliffs Pipeline.
White Cliffs Pipeline is a 527-mile common carrier, crude oil pipeline system that originates in Colorado and ends in Cushing, Oklahoma. With a current capacity of 76,000 barrels per day, it is in the process of an expansion project, expected to be completed in August, that will increase total capacity to 150,000 barrels per day.
The Akin Gump team included Christine LaFollette, partner in charge of the firm’s Houston office and a member of its oil and gas practice. Also involved were oil and gas partner John Goodgame, tax partner Thomas Weir and oil and gas associate Marcella Burke.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.
# # #