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Blueknight to move crude for parent company

BY ROD WALTON - Tulsa World Modified: September 9, 2010 at 4:25 am •  Published: September 9, 2010
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TULSA — Blueknight Energy Partners LP of Tulsa will move crude oil through the new Eagle North pipeline for its parent company, Vitol Inc., as part of a throughput agreement worth $5.5 million up front and at least $2.36 million a year.
The four-year deal...
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BACKGROUND
About Blueknight's history

Blueknight was formerly known as SemGroup Energy Partners LP, a midstream spinoff of SemGroup LP. That company's bankruptcy in 2008 activated a loan default clause that put several hedge funds in control of the subsidiary.

Vitol, the U.S. subsidiary of the privately held Netherlands giant Vitol Group, bought SemGroup Energy Partners from Manchester Securities for an undisclosed sum last October. It changed the name to Blueknight within two months.

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