Blueknight starts oil pipeline
Blueknight Energy Partners LP on Monday announced the startup of a crude oil pipeline in southern Oklahoma. The 65-mile Oklahoma Arbuckle pipeline, which connects with Blueknight's mainline system at Wynnewood, was built as part of a long-term transportation agreement with Exxon Mobil Corp. subsidiary XTO Energy Inc. “We are delighted to put the Arbuckle system into service for XTO Energy,” CEO Mark Hurley said. “The Arbuckle pipeline represents the first significant expansion to our Oklahoma mainline system and we expect it to positively complement our crude storage and transportation services already offered to customers in the area.”
New Source expands portfolio
New Source Energy Partners LP has acquired a working interest in 25 producing wells and related undeveloped leasehold in Oklahoma County's Southern Dome field, the Oklahoma City-based company announced Monday. New Source will pay $13.4 million to acquire the properties from Scintilla LLC, although the purchase price could rise if certain production targets are met. “The acquisition of these properties is another opportunity of New Source to broaden our growing portfolio and provide sustainable growth for our unit holders,” CEO Kristian Kos said.
Magellan line to add origin point
TULSA — Magellan Midstream Partners LP announced Monday it intends to add a new origin point to its Longhorn oil pipeline in south Texas. Magellan plans to build a $25 million origin point at Barnhart, Tex. It is expected to begin receiving crude oil in early 2015 as Magellan expands the capacity of the Longhorn line by 50,000 barrels of oil a day. The expansion, which will cost about $55 million, will increase Longhorn's capacity to 275,000 barrels a day. “Customer demand continues to be strong to deliver Permian Basin crude oil to the Gulf Coast refining region,” CEO Michael Mears said. “The new Barnhart origin and increased capacity for the Longhorn pipeline are in direct response to our customers' desire to more efficiently supply additional crude oil barrels to the Gulf Coast through our Longhorn pipeline system.”
Manufacturing conference set
The 2013 Oklahoma Conference on Manufacturing will be from 8 a.m. to 3:30 p.m. Wednesday at the Reed Conference Center in Midwest City. The one-day conference sponsored by the Oklahoma Manufacturing Alliance will include speakers on the state of Oklahoma's manufacturing sector, as well as workshops on how to expand current markets and reach new customers. For more information or to register, visit www.okalliance.com.
From Staff Reports