Blueknight Energy Partners, L.P. (NASDAQ: BKEP)(NASDAQ: BKEPP) ("BKEP"
or the "Partnership"), a midstream energy company focused on providing
integrated services for companies engaged in the production,
distribution and marketing of crude oil, asphalt and other petroleum
products, announced today that the board of directors of its general
partner has declared quarterly cash distributions of $0.1450 per common
unit, a 1.8% increase over the previous quarter's distribution and a
7.8% increase over the third quarter of 2014's distribution, and
$0.17875 per preferred unit payable on November 13, 2015 on all
outstanding common and preferred units to unitholders of record as of
the close of business on November 3, 2015.
Forward-Looking Statements and Treasury Regulation Notice
This release may include forward-looking statements. Statements included
in this release that are not historical facts are forward-looking
statements. Such forward-looking statements are subject to various risks
and uncertainties. These risks and uncertainties include, among other
things, uncertainties relating to the Partnership's future cash flows
and operations, the Partnership's ability to pay future distributions,
future market conditions, current and future governmental regulation,
future taxation and other factors discussed in the Partnership's filings
with the SEC. If any of these risks or uncertainties materializes, or
should underlying assumptions prove incorrect, actual results or
outcomes may vary materially from those expected. The Partnership
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b) (4) and (d). Brokers and nominees should
treat one hundred percent (100.0%) of BKEP's distributions to foreign
investors as being attributable to income that is effectively connected
with a United States trade or business. Accordingly, BKEP's
distributions to foreign investors are subject to federal income tax
withholding at the highest applicable effective tax rate. Nominees, and
not BKEP, are treated as withholding agents responsible for withholding
on the distributions received by them on behalf of foreign investors.
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/20151022006626/en/
Copyright Business Wire 2015
Source: Business Wire
(October 22, 2015 - 4:41 PM EDT)
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