SemGroup goes bankrupt

On July 16, 2008, SemGroup LP and its co-founder Tom Kivisto were the toast of Tulsa, prominent among community donors and noted for company's phenomenal growth. By July 17, however, a true picture of the energy firm's cashflow crisis became obvious. SemGroup LP filed bankruptcy and cast doubt on whether it or SemGroup Energy Partners, its sole publicly traded subsidiary, could survive the growing debt burdens and eventual sale of all of the parent company's assets. SemGroup and Kivisto are alleged to have lost $2.4 billion in hedged trading on oil futures markets. On this site, you will find all of the stories, art and graphics included in the Tulsa World's coverage of the SemGroup collapse, as well as court documents from its bankruptcy filing.

Contact the reporter: ROD WALTON, 581-8457or rod.walton@tulsaworld.com

Headlines

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Plains ends SemGroup bid 4/18/2012

Plains All-American Pipeline LP is dropping its $1 billion hostile bid for Tulsa-based SemGroup Corp.

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.

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