0001392091-15-000011.txt : 20150126 0001392091-15-000011.hdr.sgml : 20150126 20150126163018 ACCESSION NUMBER: 0001392091-15-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150126 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150126 DATE AS OF CHANGE: 20150126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Blueknight Energy Partners, L.P. CENTRAL INDEX KEY: 0001392091 STANDARD INDUSTRIAL CLASSIFICATION: PIPE LINES (NO NATURAL GAS) [4610] IRS NUMBER: 208536826 STATE OF INCORPORATION: DE FISCAL YEAR END: 0914 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33503 FILM NUMBER: 15548853 BUSINESS ADDRESS: STREET 1: 201 NW 10TH, SUITE 200 CITY: OKLAHOMA CITY STATE: OK ZIP: 73103 BUSINESS PHONE: (405) 278-6400 MAIL ADDRESS: STREET 1: 201 NW 10TH, SUITE 200 CITY: OKLAHOMA CITY STATE: OK ZIP: 73103 FORMER COMPANY: FORMER CONFORMED NAME: SemGroup Energy Partners, L.P. DATE OF NAME CHANGE: 20070305 8-K 1 a8k20152ndamendedvitolstor.htm 8-K 8K 2015 2nd Amended Vitol Storage Agreement


 
        
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934


Date of report (date of earliest event reported): January 23, 2015


BLUEKNIGHT ENERGY PARTNERS, L.P.
(Exact name of Registrant as specified in its charter)


DELAWARE
001-33503
20-8536826
(State of incorporation
or organization)
(Commission file number)
(I.R.S. employer identification number)


201 NW 10th, Suite 200
Oklahoma City, Oklahoma
73103
(Address of principal executive offices)
(Zip code)

Registrant’s telephone number, including area code: (405) 278-6400


(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 




Item 1.01.
Entry into a Material Definitive Agreement.

On January 23, 2015, a subsidiary of Blueknight Energy Partners, L.P. (the “Partnership”) and Vitol Inc. entered into a second amendment (the “Amendment”) to Crude Oil Storage Services Agreement with Vitol Inc. (“Vitol”). Fifty percent of the membership interests of Blueknight Energy Partners G.P., L.L.C., the general partner of the Partnership, are indirectly owned by Blueknight Energy Holding, Inc. (“Blueknight Holding”). Blueknight Holding and Vitol are affiliated entities as both companies are indirectly owned by Vitol Holding B.V.

The Amendment extends the term of the agreement (the “Storage Agreement”), which was effective as of November 1, 2010 and scheduled to expire on March 31, 2015, through May 1 2017. The Amendment also adjusts the rate Vitol is charged for services provided under the amended agreement.  Revenues earned under the Storage Agreement are based upon the 2.2 million barrels of storage capacity that is dedicated to Vitol under the agreement.

The foregoing description is a summary of the Amendment and is qualified in its entirety by reference to the Amendment, a copy of which is included as Exhibit 10.1 to this Form 8-K.

Item 9.01.
Financial Statements and Exhibits.

(d)    Exhibits

    
EXHIBIT NUMBER
 
DESCRIPTION
 
 
 
10.1*
—
Second Amendment to Crude Oil Storage Services Agreement, effective May 1, 2015.

                                    
*Application has been made to the Securities and Exchange Commission for confidential treatment of certain provisions of this exhibit.  Omitted material for which confidential treatment has been requested has been separately filed with the Securities and Exchange Commission.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                    
 
BLUEKNIGHT ENERGY PARTNERS, L.P.
 
 
 
 
By:
Blueknight Energy Partners G.P., L.L.C.
 
 
its General Partner
 
 
 
 
 
 
Date: January 26, 2015
By:
/s/ Alex G. Stallings
 
Name:
Alex G. Stallings
 
Title:
Chief Financial Officer and Secretary






    
INDEX TO EXHIBITS

EXHIBIT NUMBER
 
DESCRIPTION
 
 
 
10.1*
—
Second Amendment to Crude Oil Storage Services Agreement, effective May 1, 2015.

                                    
*Application has been made to the Securities and Exchange Commission for confidential treatment of certain provisions of this exhibit.  Omitted material for which confidential treatment has been requested has been separately filed with the Securities and Exchange Commission.



 EX-10.1 2 exhibit10-01.htm EXHIBIT 10.1 Exhibit 10 - 01


Exhibit 10.1
*** Where this marking appears throughout this Exhibit 10.1, information has been omitted pursuant to a request for confidential treatment and such information has been filed with the Securities and Exchange Commission separately.

SECOND AMENDMENT TO
CRUDE OIL STORAGE SERVICES AGREEMENT

This SECOND AMENDMENT TO CRUDE OIL STORAGE SERVICES AGREEMENT, (the “Amendment”) is effective May 1st, 2015 (the “Effective Date”), made by and between BKEP Pipeline, LLC, a Delaware limited liability company, (the “Operator”) and Vitol, Inc., a Delaware corporation, (the “Customer”), each referred to individually as “Party” or collectively as “Parties”.

RECITALS

WHEREAS, the parties previously entered into that certain Crude Oil Storage Services Agreement dated effective November 1st, 2010, (the “Agreement”).

WHEREAS, the parties desire to amend the Agreement as hereinafter described by modifying the Term and Fees of said Agreement.

NOW THEREFORE, in consideration of the mutual promises set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned Parties hereto agree as follows:

Shell Capacity. Commencing on the Effective Date, the Shell Capacity available to the Customer for storage as set forth in Section 2 of the Agreement will change to 2.2 million barrels of dedicated storage available to Customer for the storage of Customer's Crude Oil.

Term. This agreement shall amend the term to two (2) years commencing on May 1st, 2015 and shall thereafter automatically renew for successive one (1) year periods until terminated by either party by delivering written notice of such termination to the other party at least ninety (90) days prior to expiration of the then-current Term.

Monthly Storage Fee. Commencing on the Effective Date, the monthly storage fee as set forth in Section 4 of the Agreement will change to *** per Barrel of Shell Capacity (the “Monthly Storage”), for a total of ***, regardless of the actual volume of Crude Oil placed in the facility.

Counterparts. This Amendment may be executed in several counterparts, each of which shall be deemed an original and each of which alone, and all of which together, shall constitute one and the same amendment.

Effect of Amendment. This Amendment shall be effective as of the Effective Date. Except as expressly amended or modified herein, all other terms, covenants, and the conditions of the Agreement shall be unaffected by this Amendment and shall remain in full force and effect. In the event of conflict between the provisions of this Amendment and the provisions of the Agreement, this Amendment shall prevail.





IN WITNESS WHEREOF, the Parties have executed this Amendment effective as of the Effective Date above.


BKEP Pipeline, LLC, a Delaware limited
liability company

/s/ Mark Hurley
Title: CEO


Vitol, Inc., a Delaware Corporation

/s/ Sebastian Moretti
Title: Operations Manager