January 4, 2005 -- Tulsa, Oklahoma – SemFuel, L.P. announced the purchase today of Frontier Terminal & Trading Company by its subsidiary SemProducts, L.P. Tulsa-based Frontier is a wholesale petroleum products marketing company with an extensive terminal and storage business at the Port of Catoosa. The purchase also includes Frontier’s National Oil & Supply Co., Inc. based in Springfield, Missouri. National Oil provides third-party trucking services and markets asphalt and other petroleum products. The acquisition is retroactive to January 1, 2005.
“Frontier is recognized in the energy industry as having one of the highest quality asphalt terminals operating in the Mid-Continent United States,” said Darrell Weakland, SemFuel president and chief operating officer. “We are pleased Frontier’s senior management team of David Punnett, Bruce Goodale and Greg Dishman will continue their oversight of the operation.”
Weakland said that the company initially will use the Frontier name and slowly transition to the new SemProducts identity during 2005.
The acquisition further broadens the vertical integration of SemGroup, L.P. – the parent of SemFuel – in the petroleum industry. “The asphalt, residual fuel business complements our crude oil, natural gas, natural gas liquids and refined products business segments,” Tom Kivisto, SemGroup president and chief executive officer said. “Frontier presents an opportunity for us to leverage our existing business relationships and expand our overall energy market presence.”
SemGroup, L.P. is a midstream service company providing the energy industry means to move products from the wellhead to the wholesale marketplace. It is ranked #14 on Forbes magazine’s list of America’s Largest Private Companies. For additional information visit www.semgroupcorp.com.
Contact Information:
SemGroup, L.P.
Frank Panzer
Director - Commercial Development
918.388.8109