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August 6, 2014
08:19 EDTBKEP, OILTBlueknight Energy Partners announces pipeline project
Blueknight Energy Partners (BKEP) announced plans to build a pipeline linking the emerging East Texas Eaglebine/Woodbine crude oil resource play to Oiltanking Houston, a crude oil and product terminal on the Houston Ship Channel, owned and operated by Oiltanking Partners (OILT). The project is backed by long-term shipper commitments, one of which is a transportation agreement with a joint venture between Vitol, a diversified multinational energy company, which also owns 50% of BKEP’s general partner, and SEI Energy. Blueknight will construct a 160-mile, 16-inch diameter pipeline originating in Madison County and running south through Leon, Walker and Houston counties. The pipeline will have an initial capacity of 100K BPD, will be expandable up to 200K BPD and serve Eaglebine/Woodbine crude oil producers via two origination stations located near North Zulch and Madisonville with a third station near Roans Prairie planned to accommodate future production growth in the area. The pipeline will have the capability to segregate and batch crude oil in order to help producers capture value for this premium product. Construction on the pipeline will start immediately and is expected to be complete by March 2016. The pipeline is estimated to cost approximately $300M, subject to final pipeline design and shipper commitments, and is anticipated to be financed using a combination of debt and equity.
News For BKEP;OILT From The Last 14 Days
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February 2, 2016
09:01 EDTBKEPBlueknight Energy Partners acquires asphalt facilities in NC, VA
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