SemGroup completes storage acquisition

SemGroup Energy Partners LP, Tulsa OK, has completed the previously announced acquisition of eight recently constructed crude oil storage tanks located at the Cushing Interchange from SemCrude LP for $90 million, according to company information.

SemCrude is a subsidiary of privately owned SemGroup LP. The acquisition increases total storage capacity to more than 15-million barrels. Almost seven-million barrels of the storage is within the Cushing Interchange, one of the largest crude oil marketing hubs in the United States, SemGroup said.