Current BKEP Stock Info

Blueknight Energy Partners (ticker: BKEP) portfolio encompasses crude oil transportation pipelines, gathering systems, crude transport trucks, asphalt cement and residual fuel oil storage. Its assets and infrastructure span the United States.

Cushing Storage Operator Blueknight Energy Partners Presenting at EnerCom Conference

Source: Blueknight Energy Partners

Blueknight Owns 6.6 MMBO crude storage at Cushing, 9.6 MM barrels of asphalt storage

In storage alone, Blueknight holds 6.6 million barrels of crude oil and petroleum storage capacity in Cushing, Oklahoma—and 9.6 million barrels of asphalt and residual fuel oil storage across 54 sites. The company owns 670 miles of pipeline in the Mid-Continent and Texas, and has a fleet of 165 vehicles for crude oil transportation.

In Q1, 2017 Blueknight reported a 27% increase in its operating margin for its asphalt terminalling services since Q4, 2016. The company attributed the growth to the acquisition of nine asphalt terminals from Ergon Inc. during October, 2016 and another two terminals in the first quarter of 2016.

Within the Q1, 2017 Blueknight divested two non-core assets, one being its crude oil pipeline located in East Texas, the other being the company’s 30% ownership of Advantage Pipeline. The proceeds from the divesture totaled $30 million, and the company used the proceeds to pay off its revolving credit facility and will use the remainder for future capital projects.

Blueknight  Energy Partners, L.P. is partially owned by Ergon Asphalt and Emulsions, Inc.—which holds a 25.7% limited partner interest in Blueknight. The company is also held by public unit-holders, which hold 72.7%. The remaining 1.6% interest is held by Blueknight Energy Partners G.P., L.L.C.

Cushing Storage Operator Blueknight Energy Partners Presenting at EnerCom Conference

Source: Blueknight Energy Partners

Asphalt terminalling

Blueknight holds the largest network of asphalt terminals and its asphalt terminalling service makes up approximately 48.9% of the company’s total revenue. The nature of its fee-based service makes the company’s asphalt terminalling relatively insulated from swings in commodity prices.

Crude oil storage

The company’s crude oil storage division owns 34 crude oil tanks—totaling approximately 6.6 million barrels of capacity. All of the company’s storage is connected to terminals within the Cushing Interchange, which itself is capable of accepting or distributing 350,000 BOPD. Blueknight also operates a one-million barrel terminal in Cushing for TransMontaigne.

Crude oil transportation

Blueknight’s crude transportation services are divided between its pipeline services and its trucking and producer field services. In its pipeline service, the company has a long term take-or-pay contract with XTO. This take-or-pay contract accounts for approximately 16% of Oklahoma’s total pipeline capacity.  In its trucking segment, the company offers either ‘evergreen contracts’—which are those that automatically renew until cancellation—or cents per barrel per mile contracts.

The company is currently in the process of completing its Oklahoma SCOOP Condensate Pipeline Project, which will provide additional takeaway capacity for condensates from Oklahoma.

Blueknight Energy Partners, L.P. is presenting at EnerCom’s The Oil & Gas Conference® 22

Blueknight will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.

The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors.  The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.

Cushing Storage Operator Blueknight Energy Partners Presenting at EnerCom Conference

Legal Notice