Blueknight Declares Quarterly Cash Distribution for 1Q 2017

Oklahoma City-based Blueknight Energy Partners, L.P. announced Tuesday that its general partner board has declared a quarterly cash distribution on the Partnership’s common units of $0.1450 per common unit, unchanged from the Partnership’s first quarter 2017 distribution, as well as a quarterly cash distribution on the Partnership’s preferred units of $0.17875 per preferred unit, according to a company press release.

The distributions are payable on August 14, 2017, on all outstanding common and preferred units to unitholders of record as of the close of business on August 4, 2017.

“The board’s decision to maintain our distributions reflects what we believe is another solid quarter,” said Mark Hurley, Blueknight’s Chief Executive Officer. “We look forward to discussing our results on August 2, 2017.”

Blueknight owns and operates midstream energy assets consisting of approximately 9.6 million barrels of combined asphalt product and residual fuel oil storage located at 54 terminals in 26 states, 7.2 million barrels of crude oil storage located in Oklahoma and Texas, approximately 6.6 million barrels of which are located at the Interchange in Cushing, Oklahoma, approximately 670 miles of crude oil pipeline located primarily in Oklahoma and Texas and approximately 200 crude oil transportation and oilfield services vehicles deployed in Kansas, Oklahoma and Texas.

Blueknight also provides integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products.