Blueknight Energy Partners, L.P. (BKEP)

[OilStockReport]

TULSA, Okla.--(BUSINESS WIRE)-- Blueknight Energy Partners, L.P. (Pink Sheets: BKEP) (“BKEP” or the “Partnership”), a midstream energy company focused on providing integrated terminalling, storage, processing, gathering and transportation services for companies engaged in the production, distribution and marketing of crude oil and asphalt product, today announced its financial results for the quarter ended September 30, 2010.

Key financial statistics relating to the third quarter of 2010 include:

service revenues, including fuel surcharge revenues, of $38.1 million, a decrease of 5.0% in revenues from the third quarter of 2009;

earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $16.0 million, an increase of approximately 13% from $14.1 million in the third quarter of 2009;

net loss of $2.8 million, or $0.08 per basic and diluted common unit, compared to a net loss of $4.4 million, or $0.12 per basic and diluted common unit, for the third quarter of 2009; and

general and administrative expenses of $3.9 million, a decrease of 45% from $7.1 million in 2009.