BKEPBoosted Kinetic-Energy Penetrator
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A 65-mile pipeline from southern Oklahoma to Wynnewood, Oklahoma, the Arbuckle pipeline intersects BKEP's existing Oklahoma mainline system and was constructed under a long-term transportation agreement with XTO Energy Inc, a subsidiary of Exxon Mobil Corporation, to transport committed XTO crude oil production from the Woodford Shale area in Southern Oklahoma to BKEP's crude oil terminal in Cushing, Oklahoma.
Subject to commitments from shippers, BKEP and Silverado intend to form a joint venture to manage the reactivation of the pipeline and BKEP would operate the pipeline under a long-term agreement with Silverado.
BKEP owns and operates a diversified portfolio of complementary midstream energy assets consisting of: 8.8 million barrels of liquid asphalt storage located at 53 terminals in 26 states; 6.9 million barrels of above-ground crude oil storage capacity located primarily in Oklahoma, approximately 6.6 million barrels of which are located at the Cushing Interchange terminalling facility in Cushing, Oklahoma; 646 miles of crude oil pipeline located primarily in Oklahoma and Texas and 60 crude oil transportation vehicles deployed in Kansas, Oklahoma and Texas.
Kingfisher Midstream, a wholly owned subsidiary of Alta Mesa Resources (AMR), Blueknight Energy Partners (BKEP) and affiliates of Ergon, announced the execution of definitive agreements to form Cimarron Express Pipeline.
(NASDAQ: BKEP) plans to acquire two asphalt terminalling facilities located in Bainbridge, Georgia, and Muskogee, Oklahoma, the company said.
"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 CEO.
('BKEP' or the 'Partnership') (NASDAQ: BKEP) (NASDAQ: BKEPP), plans to release second quarter 2019 financial results after market close on Wednesday, August 7, 2019.
Terril Brothers cut its stake in BKEP in a recent filing with the Securities and Exchange Commission.