Company Quick10K Filing
Blueknight Energy Partners
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 41 $47
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 2020-01-22 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 Amend Bylaw, Exhibits
8-K 2019-07-18 Regulation FD, 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 23% 59.5 -5% 13,503 9,821 6,282 1,474 -742 890 52,972
Blueknight Energy Partners (BKEP) 46,822 0% 109.5 -13% 316,262 333,430 444,490 0 -41,161 2,803 306,872
Transmontaigne Partners (TLP) 0 63% 5.0 4% 1,045,920 720,008 239,918 151,046 38,735 125,336 632,124
Altus Midstream (ALTM)
TC Energy Corporation (TRP)
Noble Midstream Partners (NBLX) 74% 2.7 9% 2,498,531 999,971 582,037 428,143 221,751 314,496 862,951
Plains All American Pipeline (PAA) 15% 2.0 12% 27,757,000 14,684,000 34,206,000 5,120,000 3,245,000 4,343,000 8,715,000
Western Gas Partners (WES) 62% 4.8 5% 9,236,282 5,704,703 1,944,038 1,204,352 452,561 979,901 4,749,552
NuStar Energy (NS) 0% 28.5 -3% 6,379,691 3,977,791 1,858,586 0 -181,650 120,466 3,431,579
USA Compression Partners (USAC) 49% 4.9 1% 3,759,671 2,002,503 685,345 334,789 26,158 371,777 1,811,104
DCP Midstream (DCP) 20% 6.2 3% 14,033,000 6,880,000 9,363,000 1,881,000 373,000 906,000 5,585,000
Shell Midstream Partners (SHLX) 0% -0.5 28% 2,004,000 2,771,000 547,800 0 558,200 558,500 -257,000
MPLX (MPLX) 0% 4.9 8% 23,746,000 15,872,000 6,702,000 0 1,952,000 2,836,000 14,023,000
American Midstream Partners (AMID) 19% 2.2 -0% 1,715,737 1,278,288 772,944 143,945 -6,980 205,203 450,724
Delek Logistics Partners (DKL) 24% -0.0 11% 769,310 913,610 631,233 150,976 87,603 153,179 -5,440
Plains GP Holdings (PAGP) 15% 2.1 11% 29,033,000 14,691,000 34,206,000 5,120,000 3,078,000 4,230,000 8,706,000
Western Gas Equity Partners (WGP) 81% 5.5 5% 11,980,531 8,489,321 2,426,979 1,955,670 639,476 1,335,731 7,393,653
Summit Midstream Partners (SMLP) 78% 5.7 2% 2,897,702 1,790,587 492,244 385,923 64,004 239,563 1,365,029
CNX Midstream Partners (CNXM) 0% 2.1 14% 1,127,617 702,579 231,385 0 156,924 185,954 382,011
Southcross Energy Partners (SXE) 6% -1.2 -91% 631,824 735 303,985 17,859 -572,190 -466,563 577,599

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