Tue, Sep. 16, 8:37 AM
- Blueknight Energy (NASDAQ:BKEP) announces plans to sell 8.5M units in a public offering, with an underwriters option to purchase up to 1.275M additional units.
- BKEP plans to use the proceeds for general partnership purposes, including the repayment of a portion of the outstanding borrowings under its credit facility and partially funding the previously announced $300M Eaglebine pipeline project.
Wed, Aug. 6, 3:19 PM
- Blueknight Energy (NASDAQ:BKEP) announces plans to build a new 160-mile pipeline linking the east Texas Eaglebine/Woodbine crude oil resource play to Oiltanking Partners' (NYSE:OILT) crude oil and product terminal on the Houston Ship Channel.
- The $300M pipeline will have an initial capacity of 100K bbl/day, expandable up to 200K bbl/day, and is backed by long-term shipper commitments.
- Midstream firms haven’t built new pipeline systems in the area in years, but oil producers have been moving back; much of the oil is now stranded in the Eaglebine, surrounded by smaller pipelines systems that were in service decades ago.
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Aug. 18, 2013, 8:30 AM
- U.S. pipeline operators have a problem - finding cracks before they rupture and turn into oil spills.
- The "number one asset," a torpedo-like robot called a "smart pig," can't always spot the fissures, or the data collected can take months to analyze.
- A case in point came when Exxon Mobil (XOM) inspected a pipeline in Arkansas in February using a smart pig, only for the line to split open a month later and spill 5,000 barrels of crude. The device didn't find the minute cracks along the seam of the pipe that caused the burst.
- The boom in U.S. oil output is straining the country's 184,000 miles of pipeline, with the volume of spillages jumping by 77% so far this year to 93,000 barrels.
- Companies affected include EEQ, EEP, BKEP, MWE, KMR, KMP, SXE, EPD, PAA MMP, HEP and PSXP.
Aug. 7, 2013, 6:34 AM| Comment!
Jun. 27, 2013, 12:49 PMAs the controversy intensifies over whether or not the U.S. approves the Keystone XL pipeline, it seems that the oil will continue to flow across North America. At least 37 other pipeline projects are now planned or underway in the U.S. | 49 Comments
May. 7, 2013, 7:07 PM
BKEP vs. ETF Alternatives
Blueknight Energy Partners, L.P., owns & operates diversified portfolio of complementary midstream energy assets. It provides storage, terminalling & transportation services to production & marketing of crude oil and liquid asphalt cement companies.
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