Blueknight Energy Partners begins public offering of common units

Blueknight Energy Partners LP

Blueknight Energy Partners LP (NASDAQ: BKEP) has begun an underwritten public offering of 8,500,000 common units representing limited partner interests of the Partnership. The Partnership will also grant the underwriters a 30-day option to purchase up to 1,275,000 additional common units.

The Partnership intends to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, for general partnership purposes, including the repayment of a portion of the outstanding borrowings under the Partnership’s credit facility and partially funding the Partnership’s Eaglebine pipeline project.

Wells Fargo Securities, RBC Capital Markets, and BofA Merrill Lynch will act as joint book-running managers for the offering. Stephens Inc. and SunTrust Robinson Humphrey will act as co-managers for the offering.

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