SemGroup judge knowledgable on oil
Transcripts of hearings in Delaware regarding the bankruptcy of Tulsa’s SemGroup LP make it clear that U.S. Bankruptcy Judge Brendan L. Shannon knows a bit about the oil bidness. One transcript released this week reveals where some of that knowledge comes from.
This is attorney Greg Gordon responding to the judge’s request to explain what vacuum gas oil is:
MR. GORDON: …vacuum gas oil is one of those heavier based components, although I’ve now forgotten what its uses are. Well, I think its primary use is basically to continue to be processed to be made into gasoline. So, it’s sort of an intermediate byproduct of the initial refining phase.
THE COURT: Okay.
MR. GORDON: If that answers your question.
THE COURT: It does. Thank you. I saw this on “Dirty Jobs.”
(Laughter)
THE COURT: They didn’t mention vacuum gas oil, but they covered a lot of the rest of it.
On a related note, SemGroup founder Tom Kivisto last week attended a football game at Kansas University, where the field is named after him in honor of his millions in gifts and pledges to the athletic department. That’s according to a report in the Lawrence Journal World. Kivisto, a former Jayhawk basketball star, has been seen rarely in public since his ouster from the company after its July 22 bankruptcy filing.
Don Mecoy
Business Writer
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