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Blueknight Announces Transformational $162 Million Sale of Crude Oil Business

TULSA, Okla.–()–Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) announced today that it has entered into multiple definitive agreements to sell its crude oil terminalling, pipeline, and trucking business segments for approximately $162 million in total cash consideration, including estimated crude oil linefill and inventory. Net proceeds, after transaction costs, will be used initially to reduce borrowings outstanding under the Partnership’s revolving credit facility and for general partnership purposes.

“This announcement represents a significant milestone as we transition Blueknight away from traditional oil and gas operations into a pure-play,…

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