oil and gas industry founded 2001 founder thomas l. kivisto gregory c. wallace headquarters tulsa oklahoma united states area served worldwide key people carlin conner ceo products pipeline transport asphalt services oil transportation and storage revenue us 1.24 billion fy 2012 operating income us 57.35 million fy 2012 net income us 22.10 million fy 2012 total assets us 1.75 billion fy 2012 total equity us 892.4 million fy 2012 number of employees 690 subsidiaries subsidiaries semcams semgas semlogistics semmaterials semstream ngl equity ownership rose rock midstream white cliffs pipeline website www.semgroupcorp.com footnotes references 1 semgroup headquartered in tulsa oklahoma is a transporter of oil and natural gas through pipelines from refineries to end users as well as the manufacturer and seller of asphalt . the company as of 2007 was the 18th largest private company in the us but filed for bankruptcy in 2008 . 2 as of december 2009 the company had restructured and emerged from bankruptcy at a reduced size . contents 1 history 2 bankruptcy 3 recovery 4 activities 4.1 semmaterials 4.2 rose rock midstream 5 leadership team 6 references 7 external links history edit semgroup lp was founded in february 2001 . on july 9 2007 semgroup announced that it would establish a publicly traded affiliate semgroup energy partners lp who would be traded on nasdaq under the symbol sglp . 3 this affiliate company was delisted from nasdaq effective february 20 2009 . 4 bankruptcy edit in july 2008 semgroup ran into liquidity problems and warned that it may have to file for bankruptcy as part of a financial restructuring . adding to semgroup s troubles hedge funds run by alerian capital management and elliot associates exercised the terms of a secured loan made to semgroup and took over the general partnership interest in semgroup energy partners lp . on july 22 2008 semgroup lp filed for chapter 11 bankruptcy protection in u.s. bankruptcy court in wilmington delaware . 5 6 citation needed the company listed both debts and assets of more than 1 billion . new york billionaire john catsimatidis then became engaged in efforts to take over semgroup and he gained control over a majority of the company s management committee . he was met by opposition from the company s existing management who argued for selling off at least some of the company s assets while catsimatidis stated his intention to keep the company together . 7 on february 11 2009 catsimatidis was sued by a group of semgroup executives seeking removal of catsimatidis and his allies from the committee . 8 in turn the company and its unsecured creditors committee sued former ceo tom kivisto and former cfo gregory c. wallace seeking return of 362 million that they claim the defendants used for their own transactions and benefits . 9 in april 2009 former fbi director louis freeh released a report on the circumstances surrounding the semgroup bankruptcy . 10 in july catsimatidis and the company reached a settlement pursuant to which catsimatidis acquired a piece of semgroup s asphalt business and dropped his competing plan for the company s proposed reorganization . 11 12 recovery edit on december 1 2009 semgroup exited bankruptcy under a new corporate structure eliminating its master limited partnership and becoming a publicly traded company focused on asphalt manufacture and marketing and on oil and natural gas storage and transport with about 140 employees in tulsa and 1 000 overall . 13 on the same day the former semgroup energy partners lp adopted a new name blueknight energy partners lp ; blueknight is now separate in ownership and assets although sharing a pipeline system with semgroup . 14 semgroup corporation s common stock nyse semg was listed on the new york stock exchange as of november 11 2010 15 and two of its representatives were invited to ring the nyse opening bell on december 17 2010 16 as the company assumed what a wall street journal reporter described as a new identity as a conservative middleman to the midwestern oil and gas industry . 17 meanwhile global oil trader vitol group took control of blueknight the former semgroup energy partners lp . in october 2010 vitol made a deal to add charlesbank capital partners as a second general partner ; this led to public charges by an investment fund associated with billionaire michael dell that the transaction was improper self dealing intended to take money from blueknight s existing limited partners . vitol denied these charges . 17 18 19 activities edit semgroup lp is engaged in diversified services for the north american crude oil and refined products industry . operations include gathering transporting marketing and hedging services . semgroup owns and operates carrier pipelines oil transport and service trucks pipeline injection stations and terminal storage in oklahoma louisiana kansas and texas . canadian operations are located in alberta british columbia and saskatchewan . the company is based in tulsa oklahoma united states . semmaterials edit semmaterials is the division of semgroup primarily responsible for asphalt and emulsion production . the division head is frank panzer . rose rock midstream edit rose rock midstream formed by semgroup is a publicly traded company nasdaq rrms that owns operates develops and acquires a diversified portfolio of midstream energy assets . 1 rose rock midstream is in the business of crude oil gathering transportation storage and marketing . the company holds a 17 percent ownership of white cliffs pipeline . 20 leadership team edit thomas l. kivisto co founded semgroup and served as its president and chief executive officer . another co founder was gregory c. wallace who served as vice president chief financial officer and secretary . in 2008 terry ronan replaced kivisto as president and ceo . in september 2009 semgroup announced a new leadership team to be led by a new president and ceo norm szydlowski an experienced oil industry executive who had previously served as president and ceo of colonial pipeline co. a new board was also announced to be chaired by john f. chlebowski a director of nrg energy inc. and previously president ceo of gatx terminals . 21 references edit a b semgroup corporation semg . yahoo finance . cite error invalid ref tag ; name yahoo .21 finance defined multiple times with different content see the help page . the 35 largest us private companies . cnn . may 28 2008 . john stancavage 2007 07 09 . semgroup nears ipo . tulsa world . retrieved 2007 07 09 . rod walton nasdaq will delist sglp tulsa world february 19 2009 . semgroup chapter 11 petition pdf . pacermonitor . pacermonitor . retrieved 9 june 2016 . forbes.com did goldman goose oil march 25 2009 rod walton business brawler tulsa world january 25 2009 . semgroup executives sue catsimatidis ; semgroup energy partners also warns of asphalt meltdown tulsa world february 11 2009 . rod walton kivisto is sued over use of funds a lawsuit says he used semgroup funds for his own oil trading tulsa world february 19 2009 . 1 rod walton semgroup suitor drops out the colorful new york billionaire settles for asphalt assets tulsa world july 21 2009 . catsimatidis to support semgroup reorganization reuters july 20 2009 . rod walton semgroup exits chapter 11 tulsa world december 1 2009 . rod walton blueknight steps to center stage the heir to the tulsa energy company sheds its former name tulsa world december 2 2009 . rod walton semgroup debuts on nyse tulsa world november 12 2010 . rod walton semgroup duo ring nyse opening bell tulsa world december 17 2010 . a b brian baskin semgroup works to turn it around after a disastrous bet and a bankruptcy stay firm tries to forge new identity the wall street journal december 20 2010 . shira ovide michael dell s investment firm rails against self dealing energy deal the wall street journal december 17 2010 . rod walton blueknight investor attacks restructuring deal tulsa world december 21 2010 . rose rock midstream rrms . john stancavage semgroup announces new president board of directors tulsa world september 9 2009 . external links edit official website v t e tulsa based corporations within the tulsa metropolitan area fortune 500 oneok 219 williams companies 342 forbes largest private companies quiktrip 26 list of companies based in tulsa oklahoma retrieved from https en.wikipedia.org w index.php title semgroup & oldid 732615534 categories companies listed on the new york stock exchangeoil companies of the united statescompanies based in tulsa oklahomacompanies established in 2000natural gas pipeline companiesoil pipeline companieshidden categories pages with reference errorspages with duplicate reference namesall articles with unsourced statementsarticles with unsourced statements from august 2008 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch edit links this page was last modified on 2 august 2016 at 03 42 . text is available under the creative commons attribution sharealike license ; 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