SUNOCO LOGISTICS PARTNERS L.P. INDICATES MINIMAL CREDIT EXPOSURE TO SEMGROUP BANKRUPTCY
PHILADELPHIA, July 22, 2008 - Sunoco Logistics Partners L.P. (NYSE: SXL),
announced today that it believes it has minimal credit exposure to SemGroup LP and its
affiliates. SemGroup LP announced today that the company and certain of its
subsidiaries, including SemCrude LP, have filed petitions for reorganization under
Chapter 11 of the U.S. Bankruptcy Code. Affiliates of Sunoco Logistics conduct
business with SemCrude LP for the purchase and sale of crude oil. Sunoco Logistics has
a net-out agreement with SemCrude LP, pursuant to which receivables and payables are
set-off. As of the Chapter 11 filing date, Sunoco Logistics estimates that it is in a net
payable position with SemCrude LP, with limited credit exposure, if any.
Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Philadelphia, is a
master limited partnership formed to acquire, own and operate refined product and crude
oil pipelines and terminal facilities, including those of Sunoco, Inc. The Eastern Pipeline
System consists of approximately 1,800 miles of primarily refined product pipelines and
interests in four refined products pipelines, consisting of a 9.4 percent interest in Explorer
Pipeline Company, a 31.5 percent interest in Wolverine Pipe Line Company, a 12.3 percent
interest in West Shore Pipe Line Company and a 14.0 percent interest in Yellowstone Pipe
Line Company. The Terminal Facilities consist of 9.2 million shell barrels of refined
product terminal capacity and 22.8 million shell barrels of crude oil terminal capacity
(including 15.9 million shell barrels of capacity at the Texas Gulf Coast Nederland
Terminal). The Western Pipeline System consists of approximately 3,700 miles of crude
oil pipelines, located principally in Oklahoma and Texas, a 55.3 percent interest in Mid-
Valley Pipeline Company and a 43.8 percent interest in the West Texas Gulf Pipe Line
Company and a 37.0 percent interest in the Mesa Pipe Line System. For additional
information visit Sunoco Logistics’ web site at www.sunocologistics.com.
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$USD 329.00
$USD 329.00
