The 210-mile Glass Mountain Pipeline project involves two lateral pipelines, with current capacity of 140,000 barrels per day.
The two pipelines start in the Granite Wash and Mississippi Lime Plays and terminate in Cushing, Oklahoma.
Located in Denver Basin, the 75-mile Wattenberg Oil Trunkline System transports production from Noble Energy to the White Cliffs Pipeline and also includes a 38-mile extension that entered service in February 2015.
SemGroup president and chief executive officer Carlin Conner said: "The transaction strengthens and diversifies Rose Rock’s asset base while immediately increasing distributable cash flow on a per unit basis.
"In addition, this transaction underscores SemGroup’s focus on value creation and advances our efforts to drop down assets to enhance returns and increase dividends for stockholders. We remain committed to dropping down SemGroup’s U.S. gas assets in the near future."
The transaction, which is subject to customary closing conditions, is planned to be completed in the first quarter of 2015.
