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): August 10, 2020
BLUEKNIGHT ENERGY PARTNERS, L.P.
(Exact name of Registrant as specified in its charter)
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DELAWARE
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001-33503
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20-8536826
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(State of incorporation
or organization)
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(Commission file number)
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(I.R.S. employer identification number)
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6060 American Plaza, Suite 600
Tulsa, Oklahoma
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74135
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(Address of principal executive offices)
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(Zip code)
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Registrant’s telephone number, including area code: (918) 237-4000
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On August 10, 2020, Blueknight Energy Partners G.P., L.L.C. (the “General Partner”), the general partner of Blueknight Energy Partners, L.P. (the “Partnership”), announced the appointment of Matthew Lewis as the Chief Financial Officer of the General Partner, effective as of September 8, 2020. Mr. Lewis, age 34, will serve as the General Partner’s principal financial officer.
The Partnership and Mr. Lewis agreed on an initial compensation package as follows: $305,000 base annual salary; $25,000 initial bonus to be paid following 90 days of employment; $25,000 grant of long-term incentive units to be awarded following 30 days of employment, which will vest December 31, 2022. In addition, Mr. Lewis will be eligible to participate in all benefit programs maintained by the Partnership.
Prior to joining the Partnership, Mr. Lewis served as Chief Financial Officer of Streamline Innovations, Inc., a privately held company providing specialty solutions for water and gas treating processes within energy and industrial markets since June 2019. Prior to Streamline, Mr. Lewis was Director of Business Planning & Analysis at Andeavor Logistics (NYSE: ANDX) where he served on the extended leadership team and coordinated all business planning and analysis activities from December 2017 to May 2019. Prior to Andeavor, Mr. Lewis served in multiple roles of increasing responsibility at Mid-Con Energy Partners, LP (NASDAQ: MCEP) from September 2011 to November 2017, lastly as Vice President and Chief Financial Officer. Mr. Lewis received a Bachelor of Business Administration degree in Finance from Texas Tech University and a Master of Business Administration degree from the Cox School of Business at Southern Methodist University. A copy of the Partnership’s press release announcing the appointment of Mr. Lewis as Chief Financial Officer is furnished as an exhibit to this Current Report.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Exchange Act.
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.
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BLUEKNIGHT ENERGY PARTNERS, L.P.
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By: Blueknight Energy Partners G.P., L.L.C.
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its General Partner
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Date: August 10, 2020
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By:
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/s/ Joel W. Kanvik
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Joel W. Kanvik
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Chief Legal Officer &
Corporate Secretary
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Exhibit 99.1
Blueknight Announces Appointment of Chief Financial Officer
TULSA - August 10, 2020 - Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) today announced Matthew R. Lewis as the new Chief Financial Officer. Mr. Lewis joins Blueknight with prior experience as both a public and private company Chief Financial Officer, as well as, a proven track record of leading corporate finance, strategic planning, investor relations, and risk management activities within energy and industrial markets. He will begin his new role on September 8, 2020.
“We are thrilled to welcome Matt to our team and believe his extensive finance and Chief Financial Officer experiences, including his relevant commercial acumen, will be invaluable to our executive leadership team going forward,” said Andrew Woodward, Blueknight’s Chief Executive Officer. “I’ve personally worked with Matt and can confidently say that he will only further enhance our efforts to deliver greater value to all stakeholders as we incorporate a long-term approach to realizing Blueknight’s full potential,” added Woodward.
Prior to joining Blueknight, Mr. Lewis served as Chief Financial Officer at Streamline Innovations, Inc., a privately held company providing specialty solutions for water and gas treating processes within energy and industrial markets. Prior to Streamline, Mr. Lewis was Director of Business Planning & Analysis at Andeavor Logistics (NYSE: ANDX), a $15 billion enterprise value company, where he served on the extended leadership team and coordinated all business planning and analysis activities. Prior to Andeavor, Mr. Lewis served in multiple roles of increasing responsibility at Mid-Con Energy Partners, LP (NASDAQ: MCEP), prior to being appointed Vice President & Chief Financial Officer in 2016 where he was responsible for corporate finance, treasury, risk management, investor relations, and accounting related activities.
Mr. Lewis holds a Bachelor of Business Administration degree in Finance from Texas Tech University and a Master of Business Administration degree from the Cox School of Business at Southern Methodist University.
About Blueknight Energy Partners, L.P.
Blueknight owns and operates a diversified portfolio of complementary midstream energy assets consisting of:
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8.8 million barrels of liquid asphalt storage located at 53 terminals in 26 states;
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6.9 million barrels of above-ground crude oil storage capacity located primarily in Oklahoma, approximately 6.6 million barrels of which are located at the Cushing Interchange terminalling facility in Cushing, Oklahoma;
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604 miles of crude oil pipeline located primarily in Oklahoma; and
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63 crude oil transportation vehicles deployed in Oklahoma and Texas.
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Blueknight provides integrated terminalling, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt and crude oil. Blueknight is headquartered in Tulsa, Oklahoma. For more information, visit the Partnership’s website at www.bkep.com.
Contact:
Blueknight Investor Relations
Chase Jacobson, (918) 237-4032
investor@bkep.com