Company Quick10K Filing
Blueknight Energy Partners
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 41 $47
10-K 2020-03-26 Annual: 2019-12-31
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-08 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-03-12 Annual: 2018-12-31
10-Q 2018-11-01 Quarter: 2018-09-30
10-Q 2018-08-02 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-03-08 Annual: 2017-12-31
10-Q 2017-11-01 Quarter: 2017-09-30
10-Q 2017-08-02 Quarter: 2017-06-30
10-Q 2017-05-04 Quarter: 2017-03-31
10-K 2017-03-09 Annual: 2016-12-31
10-Q 2016-11-02 Quarter: 2016-09-30
10-Q 2016-08-03 Quarter: 2016-06-30
10-Q 2016-05-05 Quarter: 2016-03-31
10-K 2016-03-09 Annual: 2015-12-31
10-Q 2015-11-05 Quarter: 2015-09-30
10-Q 2015-08-06 Quarter: 2015-06-30
10-Q 2015-05-07 Quarter: 2015-03-31
10-K 2015-03-11 Annual: 2014-12-31
10-Q 2014-11-06 Quarter: 2014-09-30
10-Q 2014-08-06 Quarter: 2014-06-30
10-Q 2014-05-07 Quarter: 2014-03-31
10-K 2014-03-12 Annual: 2013-12-31
10-Q 2013-11-06 Quarter: 2013-09-30
10-Q 2013-08-07 Quarter: 2013-06-30
10-Q 2013-05-08 Quarter: 2013-03-31
10-K 2013-03-14 Annual: 2012-12-31
10-Q 2012-11-06 Quarter: 2012-09-30
10-Q 2012-08-07 Quarter: 2012-06-30
10-Q 2012-05-09 Quarter: 2012-03-31
10-K 2012-03-13 Annual: 2011-12-31
10-Q 2011-11-09 Quarter: 2011-09-30
10-Q 2011-08-05 Quarter: 2011-06-30
10-Q 2011-05-10 Quarter: 2011-03-31
10-K 2011-03-16 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-10 Quarter: 2010-03-31
10-K 2010-03-30 Annual: 2009-12-31
8-K 2020-03-25 Earnings, Exhibits
8-K 2020-01-22 Regulation FD, Exhibits
8-K 2020-01-08 Enter Agreement, Exhibits
8-K 2020-01-02 Enter Agreement, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-09-05 Officers
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-07-19 Officers, Exhibits
8-K 2019-07-18 Regulation FD, Exhibits
8-K 2019-07-18 Amend Bylaw, Exhibits
8-K 2019-05-14 Regulation FD
8-K 2019-05-08 Earnings, Exhibits
8-K 2019-04-22 Regulation FD, Exhibits
8-K 2019-04-10 Officers, Exhibits
8-K 2019-03-21 Officers
8-K 2019-03-11 Earnings, Exhibits
8-K 2019-02-26 Other Events
8-K 2019-01-25 Regulation FD, Exhibits
8-K 2018-12-06 Regulation FD
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-10-23 Regulation FD, Exhibits
8-K 2018-09-04 Officers
8-K 2018-08-14 Officers
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-07-19 Regulation FD, Exhibits
8-K 2018-07-12 Enter Agreement, M&A, Exhibits
8-K 2018-06-28 Enter Agreement, Regulation FD, Exhibits
8-K 2018-05-22 Regulation FD
8-K 2018-05-10
8-K 2018-05-09 Enter Agreement, Exhibits
8-K 2018-04-23 Regulation FD, Exhibits
8-K 2018-04-23 Regulation FD, Exhibits
8-K 2018-03-07 Earnings, Exhibits
8-K 2018-02-13 Officers
8-K 2018-01-23 Regulation FD, Exhibits

Blueknight Energy Partners Financials

BKEP Metrics, Comps, Filings

Annual | Quarterly

Business

We are a publicly traded master limited partnership with operations in 27 states. We provide integrated terminalling, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt and crude oil. We manage our operations through four operating segments: (i) asphalt terminalling services, (ii) crude oil terminalling services, (iii) crude oil pipeline services and (iv) crude oil trucking services. On April 24, 2018, the Partnership sold the producer field services business. As a result of the sale of the producer field services business, the Partnership changed the name of the crude oil trucking and producer field services operating segment to crude oil trucking services during the second quarter of 2018. See Note 8 to our consolidated financial statements for additional information.

We were formed as a Delaware limited partnership in 2007 to own, operate and develop a diversified portfolio of complementary midstream energy assets. Our operating assets are owned by, and our operations are conducted through, our subsidiaries. Our General Partner has sole responsibility for conducting our business and for managing our operations. On October 5, 2016, Ergon purchased 100% of the outstanding voting stock of Blueknight GP Holding, L.L.C., which owns 100% of the capital stock of our General Partner, pursuant to a Membership Interest Purchase Agreement dated July 19, 2016, among CB-Blueknight, LLC ("CBB"), an indirect wholly-owned subsidiary of Charlesbank, Blueknight Energy Holding, Inc. ("BEHI"), an indirect wholly-owned subsidiary of Vitol, and Ergon Asphalt Holdings, LLC, a wholly-owned subsidiary of Ergon (the "Ergon Change of Control"). In conjunction with the Ergon Change of Control, Ergon contributed nine asphalt facilities plus $22.1 million in cash in return for total consideration of approximately $144.7 million, which consisted of the issuance of 18,312,968 Preferred Units in a private placement. We also repurchased 6,667,695 Preferred Units from each of Vitol and Charlesbank in a private placement for an aggregate purchase price of approximately $95.3 million. Vitol and

Charlesbank each retained 2,488,789 Preferred Units upon completion of these transactions. In addition, Ergon acquired an aggregate of $5.0 million of common units for cash in a private placement, pursuant to a Contribution Agreement between us, Blueknight Terminal Holding, L.L.C. and three indirect wholly-owned subsidiaries of Ergon.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Jensyn Acquisition (JSYN) 50,641 16% 91.7 -6% 18,067 14,310 18,031 2,914 -1,125 578 53,059
Blueknight Energy Partners (BKEP) 0% -51.5 -12% 313,975 331,876 403,088 0 -36,610 -4,966 255,815
Transmontaigne Partners (TLP) 0 48% 4.9 4% 1,051,450 724,722 249,341 119,527 42,170 130,958 635,799
Altus Midstream (ALTM) 40% 12.2 -0% 2,661,835 427,851 120,300 48,528 -7,958 20,510 250,006
TC Energy Corporation (TRP)
MPLX (MPLX) 0% 6.6 5% 41,281,000 22,421,000 7,270,000 0 2,125,000 2,884,000 19,149,000
Noble Midstream Partners (NBLX) 57% 3.0 9% 2,622,766 1,082,548 612,197 350,327 239,431 311,715 934,461
American Midstream Partners (AMID) 13% 2.9 -0% 1,715,737 1,278,288 772,944 97,075 -6,980 156,780 450,724
NuStar Energy (NS) 0% 89.6 -3% 6,135,836 3,788,919 1,746,279 0 -181,975 36,503 3,272,489
DCP Midstream (DCP) 15% 11.7 1% 14,034,000 7,219,000 8,303,000 1,228,000 114,000 494,000 5,799,000
Western Gas Equity Partners (WGP) 55% 6.8 4% 12,178,225 8,843,150 2,023,234 1,120,267 518,341 1,117,869 7,613,072
Summit Midstream Partners (SMLP) 60% 10.4 -0% 2,901,456 1,827,257 464,952 280,479 -4,096 134,010 1,387,936
Delek Logistics Partners (DKL) 19% -0.0 12% 767,807 910,297 604,679 114,900 94,808 150,005 -6,353
Plains All American Pipeline (PAA) 10% 2.2 11% 28,377,000 15,266,000 33,300,000 3,296,000 2,989,000 3,823,000 8,505,000
Enlink Midstream Partners (ENLK) 13% 13.0 -1% 9,416,800 6,955,500 882,600 -116,100 347,500 4,511,800
USA Compression Partners (USAC) 33% 6.2 1% 3,751,230 2,040,001 692,154 230,151 27,848 295,853 1,843,307
Antero Midstream Partners (AM) 0% 3.7 10% 3,546,417 1,854,909 1,028,522 0 337,335 444,656 1,632,147
Buckeye Partners (BPL) 31% 3.9 9% 8,510,110 4,419,774 3,706,872 1,150,567 767,632 965,690 3,749,401
Andeavor Logistics (ANDX) 46% 5.6 6% 10,550,000 6,016,000 2,496,000 1,139,000 658,000 949,000 5,275,000
CNX Midstream Partners (CNXM) 0% 2.6 11% 1,181,266 742,871 224,296 0 125,815 148,440 392,190

Balance Sheet ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash1,2393,1773,1822,6613,0383,3042,4691,455
Accounts Receivable14,1919,94812,2449,0518,6977,5447,58935,683
Inventory
PP&E266,355267,741468,456502,603312,934307,334296,069248,261
Assets304,755299,825354,748364,395364,746375,663340,869323,304
Accounts Payable10,13810,0526,5377,6265,2363,1744,4393,707
Long-Term Debt218,000211,000273,000216,000245,000324,000307,592265,592
Liabilities246,956241,170299,290244,439277,527350,087336,185330,200
Stockholders' Equity57,79958,65555,458119,95687,21925,5764,684-6,896
Income Statement ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue132,618134,24251,75542,788140,926126,215113,77258,756
Cost of Revenue
Gross Profit
R&D
SG&A17,31119,79517,48217,49818,97620,02917,11215,995
Tax287318419508412282166198
Net Income33,47531,56528,03527,5726,396-4,84020,045-42,047
Cash Flow ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating37,16261,72060,55158,24060,53252,84954,49448,784
Cash Investing-10,640-17,511-80,698-34,305-44,605-159,56317,07139,455
Cash Financing-30,123-42,27120,152-24,456-15,550106,980-72,400-89,253