Akin Gump Advises Rose Rock Midstream in $325 Million Crude Oil Deal

(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 $325 million purchase of the remaining crude oil assets of SemGroup Corporation, which include the Wattenberg Oil Trunkline System and SemGroup’s 50 percent interest in the Glass Mountain Pipeline.

The value of the deal consists of cash and 1.75 million Rose Rock Midstream common LP units. Rose Rock expects the acquisition to close in the first quarter of 2015, subject to customary closing conditions.

The Akin Gump team included oil and gas partners Christine LaFollette, partner in charge of the firm’s Houston office, and John Goodgame; tax partner Thomas Weir; oil and gas counsel Frederick Feldman; and oil and gas associate Brandon Hauver.

This is the second major transaction in the past 12 months in which Akin Gump has advised Rose Rock’s conflicts committee’s board of directors. For more on the previous deal, please click here.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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