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 November 30, 2015 - 5:21 PM EST
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Blueknight Extends Open Season for Oklahoma Condensate Pipeline

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 extending the binding open season for its Oklahoma Condensate Pipeline until Dec. 18.

“We have received strong interest from current customers and positive feedback from prospective customers regarding our new condensate pipeline project,” said Mark Hurley, BKEP's chief executive officer. “Our decision to extend the open season was made to give potential customers sufficient time to complete the review and approval process.”

BKEP 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 the BKEP 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.

The project is expected to be completed in the third quarter of 2016.

BKEP’s Cushing Oil Terminal provides shippers and producers direct access to several key connecting terminals and refiners, as well as the important Gulf Coast market.

“We are seeing growing demand for a dedicated condensate pipeline out of the promising SCOOP and STACK shale plays into the Cushing market. By 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 Hurley.

Potential shippers interested in additional details should contact Marcia Mehmert at 405-278-6446 or mmehmert@bkep.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 976 miles of crude oil pipeline located primarily in Oklahoma and Texas, approximately 240 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.

BKEP
Investor Relations, 918-237-4032
investor@bkep.com
or
Media Contact:
Brent Gooden, 405-715-3232 or 405-818-1900


Source: Business Wire (November 30, 2015 - 5:21 PM EST)

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