Blueknight Announces Open Season for Oklahoma Condensate Pipeline
OKLAHOMA CITY & HOUSTON--(BUSINESS WIRE)-- 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 Pipeline.
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 protected].
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.
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Source: Blueknight Energy Partners, L.P.