SemGroup Energy Partners To Change Its Name

NewsOn6.com

TULSA, OK -- Effective December 1, SemGroup Energy Partners L.P. is changing its name to Blueknight Energy Partners, L.P. 

President and Chief Executive Officer of SGLP's general partner, Kevin Foxx, made the announcement in a news release. 

"We are extremely excited to continue our business as Blueknight Energy Partners and expanding our presence under a new flag and leadership," said Kevin Foxx. 

In that same news release, SemGroup Energy Partners, L.P. announced  a net loss of $2.9 million, or 8 cents per common unit, on total revenues of $40 million, for the third quarter that ended September 30.

For the nine months ended Sept. 30, SGLP announced a net loss of $8 million, or 23 cents per common unit, on total revenues of $119.7 million.  

"Third quarter results and the pending change of control of our general partner are anticipated to further stabilize our transportation and storage business," said Kevin Foxx.  

These results compare to a net loss of $11.9 million and net income of $19.5 million on revenues of $53.8 million and $149.3 million for the three and nine month periods a year ago.

Read the third quarter earnings news release.

There is no word yet on which ticker symbol will be assigned to Blueknight Energy Partners, L.P.