Blueknight Energy Partners to Acquire Asphalt Facilities in Bainbridge, GA and Muskogee, OK

OKLAHOMA CITY--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (NASDAQ: BKEP – Common Units) (NASDAQ: BKEPP – Preferred Units) (“BKEP” or the “Partnership”), announced today that a wholly-owned subsidiary of BKEP is expected to acquire two asphalt terminalling facilities located in Bainbridge, GA, and Muskogee, OK. The Bainbridge, GA, facility will be acquired from Ergon Asphalt & Emulsions, Inc., a Mississippi corporation (“EA&E”), and Ergon Terminaling, Inc., a Mississippi corporation (“ETI”). ETI and EA&E are subsidiaries of Jackson, Mississippi-based Ergon, Inc. (“Ergon”), which owns 100% of the outstanding membership interests of the General Partner of BKEP. In addition, Ergon will assign a long-term storage, throughput and handling agreement with a third-party for the Bainbridge facility. The Muskogee, OK, facility will be acquired from Frontier Terminal, LLC (“Frontier”) and Cummins Investment Corporation (“CIC”). BKEP has also entered into two third-party storage, throughput and handling agreements associated with the Muskogee terminal that will be effective upon closing of the transaction.