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 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 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151130006360/en/
Copyright Business Wire 2015
Source: Business Wire
(November 30, 2015 - 5:21 PM EST)
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