TULSA, OKLA., October 25 /CNW/ - SemGroup Energy Partners, L.P.
(NASDAQ: SGLP) announced today that the board of directors of its general
partner has declared a prorated quarterly cash distribution of $0.24 per unit,
or $1.25 per unit on an annualized basis, for the third quarter of 2007. This
cash distribution will be paid November 14, 2007, on all outstanding common
and subordinated units to holders of record as of the close of business on
November 1, 2007. This is the first distribution declared by the Partnership
and corresponds to the minimum quarterly distribution of $0.3125 per unit,
prorated for the partial quarter following the closing of the Partnership's
initial public offering on July 23, 2007.
SemGroup Energy Partners will announce its earnings for the third quarter
of 2007 after the market closes on Tuesday, November 13, 2007. The Partnership
will hold a conference call to discuss its third-quarter 2007 financial
results on Wednesday, November 14, 2007, at 10:00 a.m. Central Time (11:00
a.m. Eastern Time). SemGroup Energy Partners' senior management team will
participate in the call.
What: SemGroup Energy Partners' third-quarter 2007 earnings
When: November 14, 2007 - 10:00 a.m. Central; 11:00 a.m. Eastern
Where: 1) Log on to the webcast at www.SGLP.com
2) Participant dial-in phone: 800-374-0113
3) International dial-in phone: 706-758-9607
If you are unable to participate in the conference call, the presentation
will be available as an audio webcast on SemGroup Energy Partners' Web site,
www.SGLP.com, for 30 days. A recording will be available by phone for 14 days.
To hear the replay, call 800-642-1687 in the United States or call
706-645-9291 from International locations. The pass code for both is 22066958.
About SemGroup Energy Partners, L.P. SemGroup Energy Partners owns and
operates a diversified portfolio of complementary midstream energy assets.
SemGroup Energy Partners provides crude oil gathering, transportation,
terminalling and storage services primarily in its core operating areas in
Oklahoma, Kansas and Texas. A subsidiary of SemGroup, L.P. is the general
partner of SemGroup Energy Partners. SemGroup Energy Partners owns and
operates terminalling and storage facilities with approximately 6.7 million
barrels of storage capacity, including approximately 4.8 million barrels of
storage capacity located at the Cushing Interchange, two pipeline systems
consisting of approximately 1,150 miles of pipeline, and tanker trucks used to
gather oil at remote wellhead locations generally not covered by pipeline and
gathering systems. The Partnership is based in Tulsa, Oklahoma. For more
information, visit the Partnership's Web site www.SGLP.com.
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Certain statements in this release are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, and are
intended to qualify for the safe harbors from liability provided therein. All
statements, other than statements of historical facts, included in this
release that address activities, events or developments that the Partnership
expects, believes or anticipates will or may occur in the future are
forward-looking statements. These forward-looking statements rely on a number
of assumptions concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside SemGroup Energy
Partners' control, which could cause results to differ materially from those
expected by management of SemGroup Energy Partners.
Such risks and uncertainties include, but are not limited to, our
dependence upon SemGroup, L.P. for a substantial majority of our revenues; our
exposure to the credit risk of SemGroup, L.P. and third-party customers; a
decrease in the demand for crude oil in the areas served by our storage
facilities and pipelines; a decrease in the production of crude oil from the
oil fields served by our pipelines; the availability of, and our ability to
consummate, acquisition opportunities; our debt levels and restrictions in our
credit facility; general economic, market or business conditions; and other
factors and uncertainties inherent in the crude oil gathering, transportation,
terminalling and storage business. These and other applicable uncertainties,
factors and risks are described more fully in the Partnership's prospectus
relating to its initial public offering and other reports filed with the
Securities and Exchange Commission. SemGroup Energy Partners undertakes no
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
For further information:
For further information: SGLP Investor Relations Brian Cropper,
918-524-SGLP (7457) Toll Free Phone: 866-490-SGLP (7457)
email@example.com or SemGroup Media Susan Dornblaser,