Blueknight Energy Partners Q4 EBITDA $109M, 8% Growth and $410–560M CapEx
Blueknight Energy Partners achieved $109 million in Q4 adjusted EBITDA and $390 million in 2025, finishing with 0.9x net leverage and $984 million liquidity and consolidated a 75% stake in 1.5 GW Temple power. The company delivered 8% organic production growth at $545/ft and raised its CCUS injection target to 1.5 million tons/year by 2028.
1. Financial Performance and Liquidity
Blueknight reported Q4 adjusted EBITDA of $109 million and full-year 2025 EBITDA of $390 million, ending the year with net leverage of 0.9x and $984 million in available liquidity. The company also consolidated its interest to 75% in the 1.5 GW Temple power joint venture.
2. Upstream Operations and Efficiency
Operational execution delivered an 8% exit-to-exit organic production increase, driven by positive offset wells showing 22% uplift through 150 days and peer-leading drill-and-complete costs of $545 per lateral foot. The company set internal records in completions efficiency and drilled the longest lateral in the Barnett Shale’s history.
3. Carbon Capture Expansion
The firm secured up to $500 million in partnerships with Copenhagen Infrastructure Partners to fund carbon-capture projects and advanced its Barnett Zero facility beyond 311,000 tons injected since 2023. It refreshed its CCUS goal to 1.5 million tons per year by 2028, with Cotton Cove and Eagle Ford starts slated for H1 2026.
4. Temple Power JV and 2026 Outlook
Following consolidation of Temple Energy to a 75% ownership, the power complex delivered a 59% annual capacity factor and generated over 7,600 GWh in 2025, with spark spreads up more than 15%. Management guided 2026 capital expenditures of $410–560 million, fully funded by cash flow, and expects upstream production of 935 MMcfe/d.