Blueknight Extends Open Season for Pecos River Pipeline Extension
OKLAHOMA CITY--(BUSINESS WIRE)-- Blueknight Energy Partners, L.P. (NAS: BKEP) (NAS: 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 open season for the north extension of the Pecos River Pipeline until April 26, 2013 to allow potential shippers to finalize arrangements for committed space. BKEP will also continue to accept new shipper commitments during the extended open season.
"We have received a strong positive response from producers and shippers in the area to the Pecos River Pipeline extension, which will provide active drillers in New Mexico and the Pecos, Texas, area a safe, cost-effective way to transport their product to the Gulf Coast market," said Mark Hurley, BKEP's chief executive officer. "Extending the open season for this project will let producers and shippers complete the contracting process and give others an opportunity to perform due diligence."
The 95-mile Pecos River Pipeline extension will transport crude oil from southern New Mexico to Pecos, Texas and will then connect to the Pecos River Pipeline and continue on to Crane, Texas. The Pecos River Pipeline is currently under construction and is expected to be complete in the second half of 2013. The extension project will provide another transportation option into the Midland area for producers and marketers in a rapidly emerging production area underserved by current pipeline capacity. The termination point at Crane offers shippers access to Magellan Midstream Partners' Longhorn system and the Midland market.
About Blueknight Energy Partners, L.P.
BKEP owns and operates a diversified portfolio of complementary midstream energy assets consisting of approximately 7.8 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 1,264 miles of crude oil pipeline located primarily in Oklahoma and Texas, approximately 280 crude oil transportation and oilfield services vehicles deployed in Kansas, Colorado, New Mexico, Oklahoma and Texas and approximately 7.2 million barrels of combined asphalt product and residual fuel oil storage located at 44 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.
Investor Relations, 918-237-4032
Brent Gooden, 405-715-3232 or 405-818-1900
KEYWORDS: United States North America Oklahoma Texas
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