Blueknight Energy Partners LP (NASDAQ: BKEP) (NASDAQ: BKEPP), a midstream energy company providing integrated services for companies engaged in the production, distribution, and marketing of crude oil, asphalt, and other petroleum products, has extended the binding open season for its Oklahoma Condensate Pipeline until Dec. 18.
BKEP intends to convert a portion of its existing Oklahoma Mainline System to meet growing demand for dedicated condensate service. The pipeline, which will originate in Maysville, Oklahoma, and terminate at the BKEP oil terminal in Cushing, Oklahoma, will primarily serve the SCOOP and STACK shale plays. The system initially will be designed to move a single commingled condensate grade crude oil. However, with sufficient customer demand, a second grade of condensate could also be transported.
The project is expected to be completed in the third quarter of 2016.