SemGroup, Gavilon, Chesapeake forming joint venture for new pipeline

SemGroup Corporation (SEMG), Gavilon Midstream Energy, a subsidiary of The Gavilon Group; and an affiliate of Chesapeake Energy Corporation (CHK) announced plans to form a joint venture that will construct a 210-mile pipeline in western and north central Oklahoma which will deliver crude oil to a 1-million-barrel storage facility in Cushing, Oklahoma. The pipeline and storage facility will meet growing midstream requirements resulting from the burgeoning drilling activity in western Oklahoma and the Mississippi Lime play.