SemGroup debtor's $3.78 million purchase settlement approved by court

By Lisa Kerner

Charlotte, N.C., Dec. 3 - SemGroup, LP debtor SemGas, LP's product purchase agreement settlement with Targa Liquids and Marketing Trade was approved by the U.S. Bankruptcy Court for the District of Delaware, according to an attorney close to the case.

As previously reported, under the settlement Targa agreed to pay $3.78 million to SemGas for products delivered in June and July of 2008.

Targa has already paid the $1.17 million undisputed amount for the product delivery, a court motion said.

SemGroup, a Tulsa, Okla., limited partnership that provides midstream services to North America's energy industry, filed for bankruptcy on July 22, 2008 and emerged on Nov. 30. Its Chapter 11 case number was 08-11525.

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