This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Blueknight Announces North Extension To The Pecos River Pipeline And Open Season

Stocks in this article: BKEP

Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (NASDAQ: 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 will launch an open season on March 4, 2013 to solicit shipper commitments to transport crude oil from southern New Mexico to Crane, Texas. Interested customers must submit binding commitments by April 12, 2013.

Southeastern New Mexico and Culberson and Reeves Counties in Texas represent emerging crude oil production areas that are underserved by pipeline capacity. The proposed 95 mile extension will connect to BKEP’s previously announced Pecos River Pipeline, which is expected to commence operation in the second quarter of 2013, and will provide shippers access to the Gulf Coast and Midland markets. Depending on the strength of response from producers and shippers to the open season, the north extension’s crude transportation capacity could reach up to 100,000 barrels per day and would be in service by the first quarter of 2015.

BKEP entered into an agreement with Advantage Pipeline, L.L.C. (“Advantage”) to acquire approximately 30% ownership in a 70 mile crude oil pipeline to be constructed between Pecos and Crane, Texas. The Pecos River Pipeline will enable west Texas producers to deliver crude oil to Gulf Coast markets through a pipeline connection at Crane, Texas. BKEP will operate the pipeline under a long-term agreement with Advantage.

“The Pecos River Pipeline extension establishes a critical link to the attractive Gulf Coast market hubs for producers and shippers actively drilling in the area,” commented Mark Hurley, BKEP’s chief executive officer. “The proposed 95 mile extension will afford shippers and producers in the rapidly developing production area of New Mexico and around Pecos, Texas a similar opportunity to efficiently and affordably move their crude to markets where they can optimize the price.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs