Tulsa-based oil company SemGroup is merging with Energy Transfer in Dallas.
SemGroup, who employs nearly 175 people at their Tulsa headquarters, says the company merger is expected to be completed in late 2019. It is unclear how Tulsa workers will be affected.
Mayor G.T. Bynum issued a statement regarding the merger:
“SemGroup has been a strong corporate citizen in Tulsa for years, in good times and bad. We do not yet know what the impact on employment in Tulsa will be as a result of this transaction in the long term. The reality of modern business is that this type of transaction is common, and that is why our local commitment in Tulsa to entrepreneurship is so important. We must be constantly fostering the next generation of great Tulsa companies, and I am grateful for the strong support that exists in our city for that approach.”
To read SemGroup's press release, click here.