SemGroup Energy Partners LP’s third-quarter net loss totaled $2.9 million, compared with a loss of $11.9 million in the same three months of last year. The company, also known as SGLP since its formation two years ago, has totaled $119.7 million in revenues and $8 in net losses for the nine months of 2009 reported so far.

Chief Executive Officer Kevin Foxx also revealed that SGLP is changing its name to Blueknight Energy Partners. Vitol Inc. recently bought out the SGLP general partner interest owned by hedge fund Manchester Securities.

The public SGLP was not part of SemGroup LP’s July 2008 bankruptcy, but suffered deep cuts in revenues due to its previous throughput agreement moving oil and asphalt for the parent company. The subsidiary also fell behind in financial reporting duties but had caught up by August.

SGLP has survived by finding third-party storage and transporation customers, according to reports. The company owns and operates midstream energy assets including 8.2 million barrels of crude oil storage in Oklahoma and Texas, 1,150 miles of pipeline, asphalt and residual fuel oil storage, and transporation vehicles.

SemGroup owned controlling interest in SGLP until a July 2008 credit default.

Manchester Securities and Alerian Capital Management took over board control at that point.