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Oklahoma business briefs for Oct. 8

Oklahoma business briefs for Oct. 8, 2013
Published: October 8, 2013
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OKLAHOMA BRIEFS

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

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