Blueknight Energy Partners CEO Steps Down
Blueknight Energy Partners LP’s former Chief Executive Officer, Mark Hurley, has stepped down from his position to pursue other opportunities. The change was effective on June 22.
“We extend our thanks and appreciation to Mark for his years of leadership, service, and contributions to Blueknight since assuming the CEO role in 2012. Mark was instrumental in Blueknight’s strategy, cost improvement initiatives, and performance record in environmental, health, and safety over his tenure. We wish Mark and his family all the best in the future,” said Duke R. Ligon, Chairman.
In conjunction with the announcement, the board has appointed D. Andrew Woodward as CEO, effective June 22. He will remain interim Chief Financial Officer while the board and audit committee search for a successor CFO.
“On behalf of the entire Blueknight board, we are pleased to appoint Andrew as the new CEO,” Ligon added. “Over the course of more than a year, we have gotten to know Andrew and his experience and strengths beyond just the CFO responsibilities. He has earned the role and our full support, and we are confident in his leadership and strategic vision for Blueknight over the long-term.”
Woodward was previously appointed CFO of Blueknight in April 2019. Prior to joining Blueknight, he served in a variety of roles at Andeavor and Andeavor Logistics LP. Before joining Andeavor, Woodward served as Vice President at RBC Capital Markets within its energy investment banking group.
“I am deeply honored and humbled to be appointed by the board and to lead Blueknight through its next chapter and strategy focused on its high-quality, differentiated terminalling position serving infrastructure and transportation end markets. We have a unique portfolio of assets, stable cash flows, and an experienced team that provides a solid platform to build upon,” said Woodward.
Tulsa, Oklahoma-based Blueknight owns and operates a portfolio of midstream and infrastructure assets consisting of:
- 8.8 million barrels of liquid asphalt storage at 53 terminals in 26 states;
- 6.9 million barrels of above-ground crude oil storage capacity primarily in Oklahoma, 6.6 million barrels of which are at the Cushing Interchange terminalling facility in Cushing, Oklahoma;
- 611 miles of crude oil pipeline primarily in Oklahoma and Texas; and
- 63 crude oil transportation vehicles deployed in Oklahoma, Kansas and Texas.
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