OKLAHOMA CITY--(EON: Enhanced Online News)--Blueknight Energy Partners, L.P. ("BKEP" or the "Partnership") (NASDAQ: BKEP) (NASDAQ: BKEPP), a midstream energy company focused on providing integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products, today announced the operational startup of the southern Oklahoma Arbuckle pipeline.
The Arbuckle pipeline is a 65-mile pipeline from southern Oklahoma to Wynnewood, Oklahoma where it intersects BKEP’s existing Oklahoma mainline system. The pipeline was constructed as part of a long-term transportation agreement with XTO Energy Inc., a subsidiary of Exxon Mobil Corporation. The pipeline transports committed XTO crude oil production from the Woodford Shale area in Southern Oklahoma to BKEP's crude oil terminal in Cushing, Oklahoma.
“We are delighted to put the Arbuckle system into service for XTO Energy. The Arbuckle pipeline represents the first significant expansion to our Oklahoma mainline system and we expect it to positively complement our crude storage and transportation services already offered to customers in the area. The system provides a more cost effective and reliable transportation option out of the Woodford Shale,” said Mark Hurley, BKEP Chief Executive Officer.
This release may include forward-looking statements. Statements included in this release that are not historical facts are forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. These risks and uncertainties include, among other things, uncertainties relating to the Partnership's future cash flows and operations, the Partnership's ability to pay future distributions, future market conditions, current and future governmental regulation, future taxation and other factors discussed in the Partnership's filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The Partnership undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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.