SemGroup's Bankruptcy - Is it a Case of Oil Price Manipulation or Erroneous Estimation of Oil Price?
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Code : FCF0020
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Region : USA
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About SemGroup SemGroup, based in Tulsa, Oklahoma, was involved in the transport of oil and natural gas from refineries to end users as well as in the manufacture and sale of asphalt. SemGroup LP was founded in 2000 and as of 2007, SemGroup was ranked as the No. 12 private U.S. company by Forbes.com. Kivisto co-founded SemGroup and served as its President and Chief Executive Officer. The other co-founder, Gregory C. Wallace, served as Vice President, Chief Financial Officer, and Secretary. SemGroup LP was also engaged in diversified services for the North American crude oil and refined products industry. Operations included gathering, transporting, marketing, and hedging services... Rapid Growth of the Company SemGroup LP's fast growth was fueled by more than 50 acquisitions and it became the 12th largest privately held company in the United States in 2007. "The SemStream acquisition provides SemGroup a wonderful opportunity to diversify our domestic energy assets and represents an excellent complement to our Canadian gas marketing business," said Kivisto... Tom Kivisto Tom Kivisto was a marvel boy and was well acquainted with talking to people, from oil well operators to the richest men in the world. He served as SemGroup's president and chief executive officer until July 18, 2008. Kivisto had more than 33 years' experience in energy marketing. From 1993 to 2000, he established and served as president and chief executive officer of Tulsa-based Eaglwing Trading, a crude-oil marketing company. Prior to Eaglwing, Kivisto was executive vice president of crude oil marketing for the Wichita-based Koch Industries... |
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