Rose Rock Midstream To Buy Transportation Assets From Chesapeake Energy

(RTTNews) - Rose Rock Midstream, L.P. (RRMS) has agreed to acquire crude oil trucking assets from Chesapeake Energy Corp.'s (CHK) unit. The purchase includes 124 trucks, 122 trailers and miscellaneous equipment operating in Texas, Oklahoma and Ohio; around 200 employees; and term transportation agreement at market rates with Chesapeake Energy Marketing, Inc., a subsidiary of Chesapeake.

The transaction may close in the second quarter of 2014. Following the deal closure, Rose Rock would operate a fleet of over 250 trucks with about 350 employees, servicing the Bakken, DJ / Niobrara, Eagle Ford, Granite Wash, Mississippi Lime, Permian, San Juan and Utica plays.

Carlin Conner, chief executive of Rose Rock Midstream's general partner, noted, "We anticipate this acquisition will be immediately accretive and synergistic to our existing field services business, while expanding our footprint and scale further into highly attractive areas."