Vitol Storage Amendments


 
        
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): October 16, 2013


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 October 16, 2013, a subsidiary of Blueknight Energy Partners, L.P. (the “Partnership”) and Vitol Inc. entered into second amendments (the “Amendments”) to two Crude Oil Storage Services Agreements 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 Amendments extend the term of the agreements, which were scheduled to expire on October 31, 2013 (the “Storage Agreements”), through March 31, 2014 and, effective as of November 1, 2013, adjust the rates Vitol is charged for services provided under the amended agreements.  Revenues earned under the Storage Agreements are based upon the 0.5 million barrels of storage capacity that is dedicated to Vitol under each agreement.

The foregoing description is a summary of the Amendments and is qualified in its entirety by reference to the Amendments, copies of which are included as Exhibits 10.1 and 10.2 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 November 1, 2013.
10.2*
Second Amendment to Crude Oil Storage Services Agreement, effective November 1, 2013.

                                    
*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: October 18, 2013
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 November 1, 2013.
10.2*
Second Amendment to Crude Oil Storage Services Agreement, effective November 1, 2013.

                                    
*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.