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Stock impact report

Blueknight Closes Sale of Crude Oil Terminalling Business and Completes Transition to Pure-Play Infrastructure Terminalling Company

Blueknight Energy (BKEP)  More Company Research Source: Business Wire
Last blueknight energy earnings: 8/7 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.bkep.com
PDF TULSA, Okla.--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) announced today that it has closed its previously-announced sale of its crude oil terminalling segment to Enbridge, Inc. (NYSE: ENB) for a purchase price of $132 million, subject to customary post-closing adjustments and excluding crude oil linefill and inventory.Including the previously-announced sale of its crude oil pipeline and trucking segments, both of which closed in February 2021, Blueknight has successfully completed an exit of its crude oil business, strategically positioning the Partnership as a pure-play terminalling company focused on infrastructure and transportation end-markets.“Exiting our crude oil businesses has been a top priority for Blueknight since early 2020,” said Andrew Woodward, Chief Executive Officer. “Now with a more focused strategy and business model, coupled with an improved leverage profile and available liquidity, we believe [Read more]
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