High-flying energy trader SemGroup LP filed for Chapter 11 bankruptcy protection in the United States and creditor protection in Canada after a massive $3.2 billion trading loss on oil futures and derivatives.
Founded in 2000, the company grew rapidly through dozens of acquisitions of oil pipelines and terminals in the midwestern United States and later worldwide.
The company claimed to trade over 540,000 barrels per day of oil and to be the 14th-largest privately held company in the United States.
The following are stories related to the bankruptcy: > Huge oil trading loss sinks energy trader SemGroup [ID:N22276895] > FACTBOX-Who is energy trader SemGroup LP? [ID:nN22290250] > FACTBOX-30 largest SemGroup LP unsecured creditors [ID:nN22285422] > Investor files suit against SemGroup Energy [ID:nN21450839] > Ex-CEO of troubled oil trader departs BOK board [ID:nN21422857] > TEXT-Fitch release on SemGroup [ID:nWNA2558]