Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (NASDAQ: BKEPP) ("BKEP"
or the "Partnership"), a midstream energy company providing integrated
services for companies engaged in the production, distribution and
marketing of crude oil, asphalt and other petroleum products, announced
today it is conducting an open season for an Oklahoma Condensate
Blueknight intends to convert a portion of its existing Oklahoma
Mainline System to meet growing demand for dedicated condensate service.
The pipeline, which will originate in Maysville, Okla., and terminate at
Blueknight’s Cushing Oil Terminal, will primarily serve the SCOOP and
STACK shale plays. The system initially will be designed to move a
single co-mingled condensate grade crude oil. However, with sufficient
customer demand, a second grade of condensate could also be transported.
Blueknight’s Cushing Oil Terminal provides shippers and producers direct
access to several key connecting terminals, refiners, as well as the
important Gulf Coast market. The project is expected to be completed in
the third quarter of 2016.
"We are seeing growing demand for a dedicated condensate pipeline out of
the promising SCOOP and STACK shale plays into the Cushing market.
Strong interest from our existing customers and positive feedback from
prospective customers toward this project point to a successful open
season. Since we are converting an existing pipeline, we can quickly and
efficiently complete this project to meet the increasing demand from
producers and shippers for condensate service and provide the
connectivity to move this high grade crude to the best market," said
Mark Hurley, BKEP's chief executive officer.
The binding open season started on November 1 and will run through
November 30. Potential shippers interested in additional details should
contact Marcia Mehmert at 405-278-6446 or email@example.com.
About Blueknight Energy Partners, L.P.
BKEP owns and operates a diversified portfolio of complementary
midstream energy assets consisting of approximately 7.7 million barrels
of crude oil storage located in Oklahoma and Texas, approximately 6.6
million barrels of which are located at the Cushing Oklahoma
Interchange, approximately 900 miles of crude oil pipeline located
primarily in Oklahoma and Texas, approximately 250 crude oil
transportation and oilfield services vehicles deployed in Kansas,
Colorado, New Mexico, Oklahoma and Texas and approximately 7.3 million
barrels of combined asphalt product and residual fuel oil storage
located at 43 terminals in 22 states. BKEP provides integrated services
for companies engaged in the production, distribution and marketing of
crude oil, asphalt and other petroleum products. BKEP is headquartered
in Oklahoma City, Oklahoma. For more information, visit the
Partnership’s web site at www.bkep.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151102005248/en/
Copyright Business Wire 2015
Source: Business Wire
(November 2, 2015 - 10:00 AM EST)
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