Rose Rock Midstream (RRMS) - NYSE
  • Tue, May 31, 8:30 AM
    • SemGroup (NYSE:SEMG) agrees to acquire Rose Rock Midstream (NYSE:RRMS) in a stock-for-unit transaction at a ratio of 0.8136 in SEMG shares per RRMS share.
    • SEMG says the implied RRMS unit price represents a 7.4% and 19.2% premium to its volume-weighted average prices during the 10-trading days and 20-trading days ending May 27.
    • Following completion of the deal, SEMG says it is targeting an 8% compound annual dividend growth rate and dividend coverage of 1.5x or greater through 2018.
    | Tue, May 31, 8:30 AM | 20 Comments
  • Feb. 9, 2015, 4:38 PM
    • Rose Rock Midstream (NYSE:RRMS) agrees to acquire the remaining crude oil assets of SemGroup Corporation (NYSE:SEMG) for $325M in cash and 1.75M RRMS units.
    • The assets include the Wattenberg Oil Trunkline System, a 75-mile crude oil pipeline in the Denver-Julesberg Basin, and SEMG's 50% interest in the Glass Mountain Pipeline, a 210-mile crude oil pipeline system originating in the Granite Wash and Mississippi Lime plays.
    • To help fund the deal, RRMS says it is launching a public offering of 2M common units, with an underwriters option to purchase up to an additional 300K units.
    | Feb. 9, 2015, 4:38 PM
  • Jan. 9, 2013, 9:23 AM

    Rose Rock Midstream (RRMS) agrees to acquire a one-third interest in White Cliffs Pipeline from SemGroup (SEMG) for ~$274M. White Cliffs is a 527-mile crude oil pipeline system that originates in Colorado and terminates in Cushing, Okla.; it has a current capacity of 70K bbl/day and plans to expand to 150K bbl/day by H1 2014.

    | Jan. 9, 2013, 9:23 AM
Company Description
Rose Rock Midstream LP owns, operates, develops and acquires a diversified portfolio of midstream energy assets. The company is engaged in the business of crude oil gathering, transportation, storage, distribution and marketing in Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota,... More
Industry: Major Integrated Oil & Gas
Country: United States