Blueknight Announces Sale of Three Asphalt Terminals to Ergon, Amends Credit Facility and Completes Oklahoma Pipeline Repair

OKLAHOMA CITY--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“BKEP” or the “Partnership”) (NASDAQ: BKEP) (NASDAQ: BKEPP) announced today that it has entered into an Asset Purchase Agreement (“Purchase Agreement”) with Ergon Asphalt & Emulsions, Inc. (“Ergon A&E”) to sell three asphalt terminals located in Lubbock and Saginaw, Texas and Memphis, Tennessee to Ergon A&E for a purchase price of $90.0 million in cash (the “Asset Sale”). Net proceeds from the Asset Sale will be used to reduce outstanding indebtedness under BKEP’s credit facility. The transaction is subject to normal closing conditions and regulatory approval and is expected to close upon the expiration or earlier termination of the HSR waiting period.