Blueknight Energy to Release Quarterly and 2017 Year-end Reports Wednesday

Oklahoma City-based Blueknight Energy Partners L.P. plans to release its fourth quarter and full year 2017 financial results on Wednesday.

The results will be released after the market closes March 7, 2018.

Company leaders will also discuss the results during a Thursday morning conference call.

Blueknight’s 3rd quarter 2017 results showed net income of $9.8 million, a drop from the $11.4 million reported a year earlier. Operating income was $12.2 million compared to $13.4 million for the same period in 2016.

“The current crude oil market has impacted our crude oil segments, both terminalling and transportation. On the storage front, our Cushing terminal remains fully contracted, however the flat forward curve does impact storage rates,” said CEO Mark Hurley at the time of the 3rd quarter results.

Blueknight has 6.9 million barrels of above-ground crude oil terminals and most are in Oklahoma. Its Cushing operation maintains 6.6 million barrels. But the company also has 655 million miles of crude oil pipeline in Oklahoma and Texas.

Hurley blamed less movement of oil volume for affecting revenue. But the company’s asphalt operations remained strong and the company added two asphalt terminals, one in Muskogee and another in Georgia.