John Catsimatidis

Chairman of the Red Apple Group and United Refining Energy Corp. and SemGroup stakeholder



Tulsa-based SemGroup, L.P., was a major player in the world’s energy industry in the not-so-distant past. But in July 2008, the company entered into Chapter 11 bankruptcy. 

John Catsimatidis, the New York City-based chairman of the Red Apple Group and United Refining Energy Corp. who recently took over 65 percent of equity in SemGroup, believes that with some restructuring, the company can be successful once again. Castimatidis has 40 years of experience as a businessman, and a record of saving companies in peril.

In my plan for SemGroup … we are exploring all the possibilities. My ideal situation is, we would love to save the company, take the company out of bankruptcy and maximize the value of the company for the creditors. Without making them happy, we won’t be able to get the company out of bankruptcy. If we’re able to get it out of bankruptcy and put it in the right direction, that’s what my goal would be.

My experience in restructuring companies in danger includes … when United Refining was in the exact same position, where they wanted to liquidate the company, and we plucked it out of the hands of the proverbial Larry the Liquidator and we saved the company, and now it’s one of America’s best companies.

I took on reorganizing SemGroup because … I like to save things. You know, there are people who get satisfaction out of destroying things, liquidating companies. I get personal satisfaction out of saving companies and saving jobs.

No competing reorganization plans were presented because … we took 65 percent control of the equity and the company is in debtor of possession, and since we are in control of debtor of possession, we have the exclusive right to present the plan. Some of the consultants — and their job is strictly consultants — are saying we’re being optimistic. We only want to reorganize the company for the benefit of the company and the benefit of the creditors. We’re only doing what we’re supposed to do. Consultants are busy getting consultant checks.

The greatest challenge facing SemGroup right now is … the fact that the consultants don’t want to give up their position of being what they think of as in control. That’s the greatest threat to the company right now.

SemGroup is prepared for a successful future as a company because … we think it could be reorganized, and that the creditors would end up with more benefit if we reorganize it than if Larry the Liquidator liquidates it.

Semgroup will remain headquartered in Tulsa because … it’s already there, they’ve got a great facility, they’ve got great people. Why reinvent the wheel?

I have a connection to Tulsa through … friends in Tulsa. My longtime friend who referred me to the company was (Tulsa businessman) Matt Coughlin.

SemGroup will continue its dedication to the community … hopefully, if the company is profitable. You know, after all, people like to contribute out of profits. You can’t contribute out of losses.

Editor’s note: Catsimatidis’ plan for restructuring SemGroup was scheduled to be presented to creditors in February. At press time, SemGroup executives had filed a lawsuit against Catsimatidis over his leadership of the restructuring management committee. Employees and citizens can keep up with Catsimatidis’ progress on the restructuring plan at www.SemReorg.com.

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August 2019

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
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Telephone: (405) 236-3100
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Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
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Telephone: 918-585-1234
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Senior Star Round-Up - August 18 - Cain's Ballroom - 2 to 5 p.m. The annual Senior Star Round-Up is Sunday, August 18, at the Cain's Ballroom, 423 N. Main Street in Tulsa. This popular...

Cost: $10

Where:
Cain's Ballroom
423 N. Main St.
Tulsa, OK
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Sponsor: Senior Star Living
Telephone: (918) 664-9000
Contact Name: Emily Fox

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BROKEN ARROW COMMUNITY PLAYHOUSE Presents “The Wizard of Oz” (R.S.C.1987) By L. Frank Baum With Music and Lyrics by Harold Arlen and E. Y. Harburg Background Music by...

Cost: $22-$25

Where:
Broken Arrow Community Playhouse
1800 S Main St
Broken Arrow, OK  Broken Arrow
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Sponsor: Broken Arrow Community Playhouse
Telephone: 918-258-0077
Contact Name: 74012
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Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
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Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

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You're invited to our new store Grand Opening Celebration in Broken Arrow, August 21st for an all day event! As you know, this year marks our 30 year anniversary of serving business minded...

Cost: Free

Where:
Stow's Office Furniture
3604 S Elm Place
Broken Arrow, OK  74011
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More information

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
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Sign up now for the Tulsa Area United Way's 9th Annual Golf Scramble – a local tradition that pairs an enjoyable morning of golf with helping your community.

Cost: $400 per team

Where:
LaFortune Park Golf Course
5501 S Yale Avenue
Tulsa, OK  74135
View map »

More information

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

  The biggest sporting event in history for Broken Arrow is set to happen on Friday, August 23rd. The event will take place outside in Downtown Broken Arrow near the intersection of...

Cost: $52.00

Where:
Downtown Broken Arrow
The intersection of Commercial and Main streets
Broken Arrow, OK
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Website »

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Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


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Contact Name: Jenée Day
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Wings, Wheels & Wishes is a fly-in, car and bike show benefitting the Make-A-Wish Foundation of Oklahoma in loving memory of Collinsville Wish Kid, Bill Campbell. Our event features vintage...

Cost: Free to the public

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Airman Acres Airport
12600 N. 73rd E. Ave.
Collinsville, OK  74021
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Telephone: 918-510-3423
Contact Name: Cindi Conner
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  Our 17th Annual CimTel Classic 5K is August 24, 2019! The registration begins at 6:30am and the race begins at 8am at Cleveland High School 600 N Gilbert Cleveland, OK. The entry fee is $25 for...

Cost: 25.00

Where:
Cleveland High School
600 N Gilbert
Cleveland, OK  74020
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Sponsor: CimTel
Contact Name: Allee Pearson
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Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Maker Faire Tulsa is an award-winning, family-friendly event celebrating technology, education, science, arts, crafts, engineering, food, sustainability, and making of all kinds. The 7th...

Cost: Free

Where:
Central Park Hall at Expo Square
1701 S Sandusky Ave
Tulsa, OK  74112
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Sponsor: Fab Lab Tulsa
Telephone: 918-779-6025
Contact Name: Nathan Pritchett
Website »

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Cost: FREE

Where:
Central Park Hall @ Expo Square
4145 East 21st Street
Tulsa, OK  74114
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Bobby O’s Slices + Pies, located in the Meadow Gold District along Route 66, will host a day of meal deals, merchandise giveaways, and kids activities for their Back-to-School Bash. The...

Cost: Free

Where:
Bobby O's
1502 E. 11th St.
Tulsa, OK  74120
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Sponsor: Bobby O's
Telephone: 918-586-2455
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Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

America’s LARGEST interactive comedy murder mystery dinner show is now playing at the Hilton Garden Inn Tulsa Broken Arrow! At The Dinner Detective, you’ll tackle a challenging crime while you...

Cost: 59.95

Where:
Hilton Garden Inn Tulsa- Broken Arrow
420 W Albany St.
Broken Arrow, OK  74012
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Telephone: 866-496-0535
Contact Name: The Dinner Detective
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DIVAS JUMP THE POND - THE BRITISH INVASION!! DIVAS 4 H.O.P.E. features live music from Tulsa’s diverse local artists along with cocktails, dinner, and one-of-a-kind live and silent auction...

Cost: $15,000 - $250

Where:
Assembly Hall - Cox Business Center
100 Civic Center
Tulsa, OK  74103
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Sponsor: Health Outreach Prevention Education, Inc.
Telephone: 918-688-5022
Contact Name: Kathy L Williams
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Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

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Oklahoma's Best-Sellers

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