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SGLP Enters Into Asphalt Storage Contracts and Leases Relating to its Asphalt Facilities

SGLP Enters Into Asphalt Storage Contracts and Leases Relating to its Asphalt Facilities

SemGroup Energy Partners, L.P. ("SGLP") (Pink Sheets: SGLP) today announced that it has completed the execution of additional asphalt storage contracts or leases related to its asphalt facilities with various counterparties. As a result, SGLP now has 45 of its 46 total asphalt facilities under a storage contract or lease agreement.

Jerry Parsons, Executive Vice President Asphalt Operations said, "The contracting of our facilities has required a significant coordinated effort and the execution of these additional contracts essentially completes the task to get our asphalt facilities under contract. We now have agreements with 13 counterparties for our asphalt facilities with terms primarily extending through December 31, 2011. "

As previously mentioned, SGLP will operate the facilities under the storage agreements and the contract counterparties will operate the facilities under the lease agreements. SGLP will receive storage fees or lease payments as applicable from the new counterparties. The revenues that SGLP will receive pursuant to these leases and storage agreements will be less than the revenues previously received under the Terminalling and Storage Agreement with SemGroup, L.P.

About SGLP

SGLP owns and operates a diversified portfolio of complementary midstream energy assets consisting of approximately 8.2 million barrels of crude oil storage located in Oklahoma and Texas, approximately 6.8 million barrels of which are located at the Cushing, Oklahoma interchange, approximately 1,150 miles of crude oil pipeline located primarily in Oklahoma and Texas, over 200 crude oil transportation and oilfield services vehicles deployed in Kansas, Colorado, New Mexico, Oklahoma and Texas and approximately 7.4 million barrels of combined asphalt and residual fuel storage located at 46 terminals in 23 states. SGLP provides crude oil and liquid asphalt cement terminalling and storage services and crude oil gathering and transportation services. SGLP is based in Tulsa, Oklahoma. For more information, visit SGLP's web site at

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Forward-Looking Statements

This news release includes forward-looking statements. Statements included in this press release that are not historical facts (including any statements concerning expectations relating to SGLP's asphalt facilities and any statements concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto) are forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. These risks and uncertainties include, among other things, uncertainties relating to bankruptcy filings of SemGroup, L.P., uncertainties relating to future operations of SGLP's asphalt operations, uncertainties relating to pursuing strategic alternatives for SGLP's business, insufficient cash from operations, market conditions, governmental regulations and factors discussed in SGLP's filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. SGLP undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SGLP Investor Relations Contact:
Brian Cropper, 918-524-4026
Toll Free Phone: 866-490-SGLP (7457)

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