Blueknight Energy to Acquire Stake in Pecos River Pipeline; Shares Flat Late, Below New High

By Staff,

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Blueknight Energy Partners L.P. ( BKEP ) has entered into an agreement with Advantage Pipeline LLC to acquire approximately 30% ownership in a 70-mile crude oil pipeline project running from Pecos, Texas, to Crane, Texas. The Pecos River Pipeline will enable west Texas producers to deliver crude oil to Gulf Coast markets through a pipeline connection at Crane, Texas. BKEP will operate the pipeline under a long term agreement with Advantage.

BKEP shares closed the day at $7.72, below a fresh high in a new 52-week range of $6.08 - $8.49.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: BKEP

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