Blueknight Energy Partners, L.P. (Nasdaq:BKEP), a midstream energy company focused on providing integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products, announced that it intends to launch a rights offering, pursuant to which it will distribute detachable freely-tradable rights (each a "Right" and collectively the "Rights") pro rata to common unitholders of record ("Record Date Unitholders") as of the close of business on September 27, 2011 (the "Record Date"). Record Date Unitholders will receive 0.5412 Rights for every common unit owned on the Record Date. Each whole Right will entitle the holder to acquire, for an exercise price of $6.50, a newly-issued Series A Preferred Unit of the Partnership.

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