Headlines
SemGroup eliminating risk officer job
1/14/2012
SemGroup Corp. will eliminate its chief risk officer position by the end of this month, two years after creating the oversight job in the wake of a Chapter 11 bankruptcy that stemmed from bad bets in oil futures trading.
Rose Rock trading begins Friday on NYSE
12/9/2011
Tulsa-based oil terminal and transport company Rose Rock Midstream LP will begin trading Friday on the New York Stock Exchange, SemGroup Corp. officials said Thursday.
SemGroup drops after suitor Plains agrees to buy BP assets
12/2/2011
Tulsa-based SemGroup Corp., target of a $1 billion buyout attempt by Plains All American Pipeline LP, saw its stock price drop nearly 7 percent Thursday after Plains agreed to pay $1.67 billion in cash for BP Plc's Canadian gas-liquids operations.
SemGroup still not impressed with Plains' offer
11/18/2011
SemGroup Corp. is still not impressed with Plains All-American Pipeline LP's offer to buy outstanding shares in a deal totaling $1.2 billion, according to a letter released Thursday by the Tulsa-based midstream energy firm.
SemGroup told to reconsider Plains offer
11/17/2011
SemGroup should reconsider its rejection of Plains All-American Pipeline LP's unsolicited bid and delay its planned initial public offering of a subsidiary, Plains CEO Greg Armstrong wrote to the Tulsa midstream energy firm's leadership Wednesday.
SemGroup turnaround strong with $14.3 million quarterly profit
11/15/2011
The turnaround at SemGroup Corp. is coming on strong with a $14.3 million quarterly profit and more than $100 million earmarked for debt reduction in the near future, executives at the Tulsa-based midstream energy company said Monday.
Uncertainty at locally based companies leads to growing concerns
10/30/2011
Having the headquarters of a publicly traded company in your hometown can be a key asset, but also a source of steady concern.
SemGroup OKs 'poison pill' option after buyout bid
10/29/2011
SemGroup Corp. launched its counterattack Friday against Plains All-American Pipeline LP's unsolicited buyout bid by approving the "poison pill" option.
SemGroup: Offer from Plains All-American 'undervalued'
10/25/2011
SemGroup Corp. describes a $1.2 billion unsolicited buyout offer from Plains All-American Pipeline LP as having "substantially undervalued" the Tulsa-based midstream energy company.
Kivisto settles with SEC for nearly $1.5 million stock and fines
10/18/2011
SemGroup LP co-founder and former CEO Tom Kivisto agreed Tuesday to pay $225,000 in fines and give up $1.2 million worth of stock to settle a U.S. Securities and Exchange Commission’s civil lawsuit accusing him of misleading investors for his own gain amidst the Tulsa energy company’s financial collapse more than three years ago.
Judge tosses Tulsa investors' lawsuit against SemGroup
10/8/2011
The federal judge in Delaware presiding over SemGroup LP's bankruptcy ruled Friday that local Tulsa investors cannot continue their own state lawsuit against company co-founder Tom Kivisto, other executives and the PricewaterhouseCoopers accounting firm.
Judge ends SemGroup lawsuit
10/7/2011
The federal judge in Delaware presiding over SemGroup LP’s bankruptcy ruled Friday that local Tulsa investors cannot continue their own state lawsuit against company co-founder Tom Kivisto, other executives and the PricewaterhouseCoopers accounting firm.
Federal judge OKs $28 million settlement against SemGroup co-founder Kivisto
10/6/2011
A federal judge Wednesday gave final approval to a $28 million settlement against SemGroup LP co-founder Tom Kivisto and others connected to the downfall of the Tulsa-based energy company and its publicly traded subsidiary.
Plaintiffs accept $28 million settlement in SemGroup debacle
10/5/2011
A Tulsa federal judge Wednesday gave final approval to the $28 million settlement against SemGroup LP co-founder Tom Kivisto and others connected to the downfall of the Tulsa energy company and its publicly traded subsidiary.
20 (tie). SemGroup Corp.: SemGroup's good name restored
9/18/2011
New leadership at SemGroup Corp. has worked hard to restore the midstream energy company's good name after SemGroup LP's descent into bankruptcy in 2008.
Road Science LLC acquiered by ArrMax
8/27/2011
Road Science LLC, the asphalt technology company that survived the bankruptcy of former parent SemGroup LP three years ago, has been sold to Florida-based manufacturer ArrMaz Custom Chemicals Inc., the two firms confirmed Friday.
SemGroup to spin off some assets into new, publicly traded company
8/13/2011
SemGroup Corp. plans to spin off nearly a quarter of its assets into a new publicly traded company called Rose Rock Resources LP, the company announced Friday.
SemGroup plans MLP subsidiary
6/29/2011
SemGroup Corp. will seek an initial public offering for a future master limited partership it will crease from the SemCrude oil storage and transport assets, the Tulsa company announced Wednesday.
Judges OKs settlement in SemGroup lawsuit
6/9/2011
A $28 million settlement in the federal lawsuit against SemGroup co-founder Tom Kivisto and others will now seek the approval by unitholders who lost money after the parent company collapsed nearly three years ago.
SemGroup hearing settlement gains prelim approval
6/8/2011
A $28 million settlement in the federal lawsuit against SemGroup co-founder Tom Kivisto and others will now seek the approval of unitholders who lost money after the parent company collapsed nearly three years ago.
SemGroup strengthens long-term prospects
5/17/2011
SemGroup Corp.'s long-term prospects are getting stronger as it adds crude oil storage and pipeline capacity, while also pursuing a new $650 million credit facility, the Tulsa-based company's top two officers said Monday.
SemGroup figures settle
5/5/2011
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx will join with other defendants in paying $28 million in cash and stock to early investors in a publicly traded subsidiary of the collapsed Tulsa-based energy transport and trading company.
SemGroup founders, other defendants settle for $28 million
5/4/2011
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx will join with other defendants to pay $28 million in cash and stock to investors in a onetime subsidiary of the collapsed Tulsa energy transport and trading firm.
SemGroup considers MLP status
4/2/2011
SemGroup Corp. chose to keep its core name but changed its corporate tax structure when the onetime limited partnership emerged from a highly contentious Chapter 11 bankruptcy 17 months ago.
SemGroup reports losses
4/1/2011
SemGroup Corp. reported net losses for the fourth quarter and full year in 2010, but executives said the company's future includes refinancing, growth projects and a possible return to its former master limited partnership structure.
SemGroup settles lawsuit with investors
2/12/2011
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx and all other defendants have agreed to settle a class-action lawsuit brought by investors in the company's publicly traded subsidiary who lost tens of millions when SemGroup collapsed in 2008, attorneys said Friday.
SemGroup investors sue Kivisto, auditor
12/24/2010
A group of local investors in SemGroup LP is suing the onetime bankrupt Tulsa energy company's independent auditor Pricewaterhouse Coopers and company co-founder and former CEO Tom Kivisto for alleged professional negligence and "self-dealing," respectively, that led to SemGroup's multibillion-dollar financial collapse in 2008.
SemGroup loans total $30 million in U.K. refinancing
12/24/2010
SemGroup Corp. has refinanced the $25 million credit facility on its SemLogistics holdings in the United Kingdom.
SemGroup duo ring NYSE opening bell
12/18/2010
Ringing the opening bell at the New York Stock Exchange may be an honor some take lightly, but it made a distinctly joyful noise in SemGroup's comeback story Friday.
SemGroup debuts on NYSE
11/12/2010
SemGroup Corp.'s new era on the New York Stock Exchange started out on a positive note Thursday.
SemCrude sells part of White Cliffs stake
10/2/2010
A crude oil subsidiary of SemGroup Corp. is selling part of its ownership stake in the White Cliffs pipeline for approximately $141 million, the midstream Tulsa energy company announced Friday.
SemGroup ex-CEO apparently settles with ex-employer and creditors
9/24/2010
Former SemGroup LP CEO and co-founder Tom Kivisto, accused of bankrupting the Tulsa-based midstream energy firm through speculative and disastrous oil futures trades, apparently has come to a settlement under seal with his former employers and creditors, officials and court records confirmed Thursday.
Officials: Former SemGroup CEO Kivisto settles with former employers
9/23/2010
Former SemGroup LP CEO and co-founder Tom Kivisto, accused of bankrupting the Tulsa midstream energy firm through speculative and disastrous oil futures trades, apparently has come to a settlement under seal with his former employers, officials and court records confirmed Thursday.
SemGroup suffers losses in Canada
8/21/2010
SemGroup Corp.'s revenues and growth plans are going relatively well in the continental U.S. and Mexico, but the financial drain of its SemCanada Crude division resulted in a second-quarter net loss of $121 million, officials of the Tulsa-based midstream company said Friday.
SemGroup hires new treasurer and vice president
8/13/2010
SemGroup Corp. has hired a former OGE Energy Corp. executive as its treasurer and vice president, the Tulsa midstream energy company announced Thursday.
SemGroup reports first quarter net income of $9.1 million
7/24/2010
Tulsa-based SemGroup Corp., the midstream energy company that emerged from Chapter 11 bankruptcy late last year, announced first-quarter net income late Friday of $9.1 million.
CEO speaks on resurrection of SemGroup
7/11/2010
Norm Szydlowski is more than six months into his new job as CEO of SemGroup Corp. and has no interest in dwelling on the company's troubled past.
SemGroup avoided liquidation after its collapse
7/11/2010
Whether life would even exist for SemGroup LP after bankruptcy was a hot topic in the Tulsa business community two years ago.
Road Science starting fresh from SemGroup past
7/11/2010
Road Science LLC is a new and old company at the same time.
SemGroup applies to sell shares
5/7/2010
SemGroup Corp.'s revival from bankrupt private company to a restructured, public entity took a step forward Thursday.
SemGroup Corp. files to go public
5/6/2010
SemGroup Corp., the midstream Tulsa energy company which survived Chapter 11 bankruptcy as a privately held firm, filed Thursday to register its Class A common stock and step up to reporting status with the U.S. Securities and Exchange Commission.
Former Sem execs to receive damages
4/15/2010
Seven former SemGroup LP executives will receive about $1 million in damages after a Tulsa County district judge ruled Wednesday that a subsidiary denied those officers public units in a timely manner.
Former SemGroup trader Mia Oven drops out of lawsuit
2/5/2010
A Tulsa woman who worked as one of Tom Kivisto’s oil futures traders for SemGroup LP has dropped out of a lawsuit brought by former executives seeking $1.3 million in bonuses from a onetime company subsidiary, her attorney said Friday.
Civil suit looms for ex-SemGroup principals, execs
2/3/2010
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx may still face a civil trial over their alleged roles in the Tulsa-based company's financial collapse, but that trial won't start for more than a year.
2011 trial date set in SemGroup civil suit
2/2/2010
A trial date of Feb. 14, 2011, is set in a civil suit against the co-founders of SemGroup LP.
Bankruptcy pays off for specialists
12/30/2009
A bankruptcy filing may usher in a blue morning for financially troubled companies, but it's a red-letter day for the attorneys, consultants and other professionals who make a living guiding firms through reorganization or liquidation.
Bankruptcy players in SemGroup case rake it in
12/29/2009
Attorneys, consultants and other professionals rake it in when guiding firms through reorganization or liquidation.
Foxx payout will be $1.17 million
12/11/2009
Former SemGroup Energy Partners CEO Kevin Foxx is being paid $1.17 million in compensation and bonuses this month upon leaving the position with the Tulsa-based midstream company, now known as Blueknight Energy Partners. He will also receive $37,500 per month to work as a consultant until Feb. 28, according to a filing with regulators Thursday.
Kivisto wants more for defense
12/9/2009
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx want another $3.5 million in insurance funds to help cover defense costs in a lawsuit brought by creditors of their former employer.
SemGroup roller coaster was a tough, wild ride
12/6/2009
Something's happening, but I'm not sure what it is.
Blueknight steps to center stage
12/2/2009
SemGroup Energy Partners LP severed its most symbolic connection to former parent SemGroup LP by officially donning its new name Tuesday.
SemGroup emerges from Chapter 11 bankruptcy
12/2/2009
SemGroup LP emerged from 16 months of bankruptcy Tuesday with a new corporate structure and a mission to rebuild its good name with producers and creditors, officials said.
SemGroup's rebirth
12/1/2009
Norm Szydlowski helped get Iraq's oil sector back on its feet after the war, so guiding SemGroup LP out of Chapter 11 bankruptcy may not seem like such a big thing.
New SemGroup CEO upbeat as company prepares to emerge from bankruptcy
11/30/2009
SemGroup had hoped to emerge from Chapter 11 on Monday, but the exit strategy was temporarily put on hold due to a paperwork delay, officials said.
SemGroup LP may soon emerge from bankruptcy
11/28/2009
There continue to be indications that bankrupt Tulsa energy firm SemGroup LP will emerge from Chapter 11 creditor protection as soon as Monday.
SemGroup LP closer to exiting bankruptcy
11/27/2009
There continue to be indications that bankrupt Tulsa energy firm SemGroup LP will emerge from Chapter 11 creditor protection as soon as Monday.
SGLP amends credit deal with lenders
11/26/2009
SemGroup Energy Partners LP, which is already entering a new era with new leadership, soon-to-be new name and slightly less debt, now has a new credit deal with its lenders, the Tulsa midstream oil and gas firm announced Wednesday.
SemGroup Energy CEO is leaving
11/25/2009
SemGroup Energy Partners LP's new controlling owners announced Tuesday that CEO and President Kevin Foxx, who weathered the storm of parent company SemGroup LP's bankruptcy and questions about his involvement in its financial decline, is stepping down from the Tulsa midstream firm.
SemGroup Energy CEO Kevin Foxx stepping down
11/24/2009
SemGroup Energy Partners LP’s new controlling owners announced Tuesday that CEO and President Kevin Foxx, who weathered the storm of parent company SemGroup LP’s bankruptcy and questions about his involvement in its financial decline, is stepping down from the Tulsa midstream firm.
SemGroup may exit court Nov. 30
11/20/2009
SemGroup LP's 16-month journey through Chapter 11 should end in less than two weeks, a company attorney told a bankruptcy judge Thursday.
SemGroup chooses new CFO
11/18/2009
SemGroup LP's choice for chief financial officer is a longtime Tulsan with deep experience in the energy, transportation and accounting fields, company officials announced Tuesday.
Sem spinoff renamed Blueknight
11/14/2009
The publicly traded former subsidiary of SemGroup LP took a big step in separating itself from the bankrupt parent company Friday, announcing a name change and a third-quarter earnings report.
SemGroup pushes CEO bonus
11/14/2009
SemGroup LP executives want to reward outgoing CEO Terry Ronan with a $400,000 bonus for his work guiding the Tulsa company past its financial collapse toward emergence from Chapter 11 bankruptcy as early as next week, according to court records.
SemGroup Energy Partners changes name, issues 3Q report
11/13/2009
The publicly traded former subsidiary of SemGroup LP took another big step forward with an earnings report and name change Friday, separating itself further from the bankrupt onetime parent company.
Outgoing SemGroup CEO deserves bonus, employers say
11/13/2009
The motion seeks a Nov. 19 hearing to discuss the proposed bonus.
SemGroup Energy Partners running late on third-quarter report
11/12/2009
The publicly traded, onetime subsidiary of bankrupt SemGroup LP is behind again in its reporting duties to the U.S. Securities and Exchange Commission, only months after the Tulsa-based company finally caught up on its quarterly earnings reports.
SemGroup appoints head of accounting
11/3/2009
SemGroup LP announced late Monday it has selected Paul Largess as its chief accounting officer.
SemGroup LP names chief accounting officer
11/2/2009
SemGroup LP announced late Monday it has selected Paul Largess as its chief accounting officer.
SemGroup plan to reorganize approved
10/27/2009
SemGroup LP, once a shining light of privately held Tulsa energy companies, which actually was hiding a mountain of debt, finally will emerge as a publicly traded and leaner midstream oil and gas firm after 15 months of bankruptcy, officials said Monday.
Judge approves SemGroup reorganization plan
10/26/2009
SemGroup LP, once a shining light of privately held Tulsa energy companies which actually was hiding a mountain of debt, finally will emerge as a publicly traded and leaner midstream oil and gas firm after 15 months of bankruptcy, officials said Monday.
SemGroup to present plan
10/24/2009
SemGroup LP's date with destiny comes Monday when a judge hears what could be the final arguments about whether the bankrupt Tulsa energy company's reorganization plan is acceptable to court and creditors.
Ex-SemGroup LP exec charged by SEC
10/24/2009
The U.S. Securities and Exchange Commission charged a former SemGroup LP executive Friday with dumping stock in subsidiary SemGroup Energy Partners LP before the public learned that the parent company was in financial collapse.
Billionaire finds new partner in Oklahoma
10/14/2009
New York billionaire John Catsimatidis' acquisition company, which dropped a bid earlier this year to take control of Tulsa-based SemGroup LP, announced Tuesday it has found a new Oklahoma energy partner.
Dutch purchase big chunk of SGLP
10/9/2009
A subsidiary of a privately held Dutch energy conglomerate has purchased the general partner and a sizable number of traded units of SemGroup Energy Partners LP, the onetime subsidiary of bankrupt Tulsa-based midstream company SemGroup LP, officials announced Thursday.
SemGroup's chosen CFO resigns
10/7/2009
SemGroup LP will look for a new chief financial officer after chosen candidate Philip Reedy resigned Monday less than a month after agreeing to take the job, the bankrupt Tulsa-based energy company announced Tuesday.
SemGroup fallout detailed
9/29/2009
Oil and gas producers may have lost millions to SemGroup's bankruptcy, but they may have learned a thing or two about how to protect their product in the future, an energy attorney said Monday.
SemGroup reorganization plan wins judge's OK
9/25/2009
The bankruptcy judge overseeing SemGroup LP's Chapter 11 case approved the Tulsa company's disclosure statement Thursday, sending its reorganization plan to a vote of creditors.
SemGroup will pay more to oil, gas producers
9/23/2009
SemGroup LP will pay oil and gas producers up to $337 million to smooth a yearlong conflict and pave the way for the Tulsa-based company's exit from Chapter 11 bankruptcy, according to documents filed Tuesday in U.S. Bankruptcy Court in Wilmington, Del.
SemGroup’s producers settlement tops $300 million
9/22/2009
SemGroup LP will pay oil and gas producers up to $337 million as part to a settlement that could pave the company’s way out of Chapter 11 bankruptcy.
SemGroup, creditors reach pact
9/17/2009
SemGroup LP's creditors and producers owed millions for oil and gas sold before bankruptcy have come to an agreement that could allow the Tulsa-based company to emerge from Chapter 11 in two months, according to court documents.
Next SemGroup leaders to join creditors meeting
9/10/2009
The men waiting to take over SemGroup LP's two most important positions hope to start work almost immediately and will take part in a crucial meeting with creditors Thursday, officials said.
Next SemGroup leaders to join creditors meeting
9/9/2009
CEO Norm Szydlowski and Chief Financial Officer Philip Reedy were selected to lead SemGroup once it emerges from Chapter 11 bankruptcy. The Tulsa midstream energy company hopes to have them on board as consultants to current CEO Terry Ronan as soon as possible.
SemGroup announces new president, board of directors
9/9/2009
SemGroup LP announced late Tuesday it has selected longtime petroleum executive Norm Szydlowski as its new president and CEO.
SemGroup names new CEO, board
9/8/2009
SemGroup LP announced late Tuesday it has selected longtime petroleum executive Norm Szydlowski as its new president and CEO.
Tax agencies object to Sem reorganization
9/5/2009
State tax agencies in Pennsylvania and Louisiana jumped into the fight over SemGroup LP's reorganization this week, objecting to the plan because the bankrupt Tulsa-based energy company still owes them money.
Two states' tax agencies fight SemGroup's plan
9/4/2009
State tax agencies in Pennsylvania and Louisiana jump into the fight over SemGroup LP’s reorganization, objecting to the plan because the bankrupt company owes them money.
Court allows legal costs
8/29/2009
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx can use a company-paid insurance fund to cover their legal defense costs, but only part of it and only in the lawsuit brought against them by their former employer.
SemGroup mediation requested
8/28/2009
SemGroup LP's secured lenders offered oil and gas producers a chance to work out their financial impasse through a third party instead of federal appeals court, according to reports from a Thursday hearing in Delaware bankruptcy court.
Judge: Kivisto, others can use $3.5 million in insurance for legal aid
8/28/2009
SemGroup LP co-founders Tom Kivisto, Gregory Wallace and Kevin Foxx can use a company-paid insurance fund to cover their legal defense costs, but only part of it and only in the lawsuit brought against them by their former employer.
SemGroup lender group seeks mediation with producers
8/27/2009
SemGroup LP’s secured lenders offered oil and gas producers a chance to work out their financial impasse through a third party instead of federal appeals court, according to reports from a Thursday hearing in Delaware bankruptcy court.
Sem amends, extends plan
8/26/2009
SemGroup LP amended its reorganization plan one more time Tuesday, offering oil and gas producers $43 million in new money for those who sign on to the proposal.
SGLP shows quarterly loss, is catching up on reporting
8/26/2009
SemGroup Energy Partners LP suffered a $3.5 million net loss for its second quarter, but the bigger news Tuesday may be that the publicly traded spinoff of bankrupt SemGroup LP has caught up on most of its reporting responsibilities and may seek relisting on the Nasdaq stock market.
Producers ask court for delay
8/20/2009
Dozens of oil and gas companies joined in the call Wednesday to delay confirmation of SemGroup's reorganization plan until an appellate court rules on producers' rights to fight for more than $400 million they say is owed to them by the bankrupt Tulsa company.
Oil producers ask for delay in ruling on SemGroup reorganization plan
8/19/2009
Dozens of oil and gas companies Wednesday joined in the call to delay confirmation of SemGroup’s reorganization plan until an appellate court rules on producers’ rights to fight for more than $400 million owed them by the bankrupt Tulsa-based firm.
View a PDF of SemGroup's reorganization.
Catsimatidis speaks to SemGroup employees
Listen to an audio replay of SemGroup Energy Partners LP's Aug. 20.
Tom Kivisto
Terry Ronan
Greg Wallace