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Blueknight Energy Partners news covered the partnership's asphalt terminal operations, unitholder distributions, tax reporting materials, operating results, capital-structure updates, and project activity tied to its U.S. liquid asphalt storage network. Company announcements also described its strategic repositioning after exiting crude oil operations and its focus on infrastructure and transportation end markets.
Later references to Blueknight discuss the completed sale of the business and its former role as an independent operator of a national asphalt storage, logistics, and infrastructure network.
Sounder Partners announced that Andrew Woodward joined as Partner on April 9, 2026. Woodward brings executive experience leading heavy industrial and infrastructure businesses, including serving as CEO of Blueknight (NASDAQ: BKEP), and roles in finance, strategy, and M&A.
As Partner, he will source platform investments, support portfolio companies, and work with founders to drive operational improvements and sustainable growth.
Blueknight Energy Partners has announced the availability of its 2021 Schedule K-3, which contains information relevant for international tax reporting. This document is accessible online for unitholders, particularly targeting foreign unitholders and those needing details for foreign tax credits. Unitholders can opt to receive their Schedule K-3 electronically by contacting Tax Package Support. Blueknight operates the largest independent asphalt terminalling network in the U.S., with significant storage capacity across the country.
Blueknight Energy Partners, L.P. (BKEP, BKEPP) reported Q2 2022 income from continuing operations of $6.3 million, a decrease from $7.1 million Y/Y, largely due to non-recurring legal costs from the Ergon merger. Adjusted EBITDA remained stable at $12.1 million. Total revenue rose 6% to $29.5 million, primarily from fixed-fee services. However, total operating expenses increased 13% to $14.8 million, impacting profitability. The distribution coverage ratio decreased to 1.18 times. The merger with Ergon is pending unitholder approval on August 16, 2022.
Blueknight Energy Partners, L.P. (Nasdaq: BKEP, BKEPP) declared a quarterly cash distribution of $0.0425 per common unit and $0.17875 per preferred unit for the quarter ending June 30, 2022. These distributions are unchanged from the previous quarter and are payable on August 12, 2022, to unitholders of record by August 5, 2022. Additionally, the company will release its Q2 2022 financial results after market close on August 3, 2022, along with a 10-Q filing on August 4, 2022.
Blueknight Energy Partners reported a 9% year-over-year increase in income from continuing operations to $6.6 million for Q1 2022. Adjusted EBITDA rose to $11.5 million, while distributable cash flow improved to $9.3 million, both reflecting 2% growth over the previous year. The partnership's total revenue reached $28.5 million, with a strong focus on fixed-fee revenue. The company also announced a definitive agreement with Ergon, Inc. for a potential merger, expected to close mid-2022, subject to approvals.
Blueknight Energy Partners, L.P. (Nasdaq: BKEP, BKEPP) declared a quarterly cash distribution of $0.0425 per common unit and $0.17875 per preferred unit for Q1 2022, consistent with Q4 2021 distributions. Payments will be made on May 13, 2022, to unitholders on record by May 6, 2022. The company plans to release its financial results for the first quarter on May 4, 2022, and will file its Quarterly Report on Form 10-Q with the SEC on May 5, 2022.
Blueknight Energy Partners announced a merger agreement with Ergon, Inc. to acquire all outstanding common and preferred units not owned by Ergon. The all-cash deal provides $4.65 per common unit, a 51.5% premium over the pre-offer market price, and $8.75 per preferred unit, exceeding its 52-week high. The transaction was approved unanimously by a conflicts committee of independent directors and is set to close in mid-2022, pending usual approvals. The partnership operates the largest independent asphalt terminalling network in the U.S.
Blueknight Energy Partners reported a strong financial performance for Q4 and full year 2021. Income from continuing operations reached $8.9 million in Q4, up 6% YoY, while full year income totaled $34.8 million, a 21% increase. Adjusted EBITDA for Q4 was $13.9 million, and for the full year, it was $54.2 million, reflecting 9% growth YoY. The company is advancing its strategy as a pure-play infrastructure terminalling company, focusing on new projects worth approximately $15 million. Distributions saw a 6.25% increase, showcasing financial robustness and growth potential.
Blueknight Energy Partners, L.P. (NASDAQ: BKEP, BKEPP) plans to release its fourth quarter and full year 2021 financial results on March 8, 2022, after market close. A conference call to discuss these results will take place on March 9, 2022, at 10:00 a.m. CST. Participants can join by calling 1-855-327-6837 (international: 1-631-891-4304). Blueknight operates the largest independent asphalt terminalling network in the U.S., with a storage capacity of 9.0 million barrels across 54 terminals in 26 states, focusing on integrated solutions for infrastructure and transportation markets.
Blueknight Energy Partners, L.P. (Nasdaq: BKEP, BKEPP) announced a quarterly cash distribution increase of 6.25% to $0.0425 per common unit, equating to $0.17 annually. The preferred unit distribution remains at $0.17875. Payments are set for February 14, 2022, to unitholders of record by February 7, 2022. CEO Andrew Woodward emphasized the stable foundation and sustainable growth that facilitated this increase, targeting a distribution coverage of 1.30 times or greater in the long term.