Key Developments: BreitBurn Energy Partners LP (BBEP.O)
19.24USD
17 May 2013
$0.28 (+1.48%)
$18.96
$19.11
$19.29
$18.93
560,748
630,731
$21.75
$16.06
Latest Key Developments (Source: Significant Developments)
Breitburn Energy Partners LP Declares Increased Cash Distribution
Breitburn Energy Partners LP announced a cash distribution of $0.475 per unit for the first quarter 2013, or $1.90 per unit on an annualized basis, for all of its outstanding units. This distribution represents an increase from the fourth quarter 2012 distribution, which was $0.470 per unit, or $1.88 per unit on an annualized basis. The distribution will be payable on May 14, 2013 to the record holders of common units at the close of business on May 6, 2013. Full Article
Breitburn Energy Partners LP Issues FY 2013 Production Guidance;Issues FY 2013 Mixed Earnings Guidance
Breitburn Energy Partners LP announced that for fiscal 2013, it expects production to be in the range of 9.5 million-10.1 million mboe, Adjusted EBITDA to range between $330 million and 340 million and net income (before non-cash compensation) between $77 million and $65 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of 359 million and net income of $72.02 million for fiscal 2013. Full Article
Breitburn Energy Partners LP Announces Pricing Of Public Offering Of 13,000,000 Common Units
Breitburn Energy Partners LP announced the pricing of its public offering of 13,000,000 common units representing limited partner interests at a price to the public of $19.86 per unit. The Partnership has granted to the underwriters a 30-day option to purchase up to an additional 1,950,000 common units from the Partnership. The offering is expected to close on February 12, 2013, subject to customary closing conditions. The Partnership expects to receive net proceeds of approximately $248.2 million (or approximately $285.4 million if the underwriters exercise their option to purchase an additional 1,950,000 common units) from the offering and intends to use the proceeds to reduce borrowings under its bank credit facility. Barclays, BofA Merrill Lynch, Citigroup, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers of the offering. Full Article
Breitburn Energy Partners LP Announces Public Offering Of Common Units
Breitburn Energy Partners LP announced that it has commenced a public offering, subject to market and other conditions, of 13,000,000 common units representing limited partner interests in the Partnership. The Partnership intends to grant the underwriters a 30-day option to purchase up to an additional 1,950,000 common units. The Partnership intends to use the net proceeds from the offering to repay indebtedness outstanding under its existing revolving credit facility. Barclays, BofA Merrill Lynch, Citigroup, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities will act as joint book-running managers of the offering. Full Article
Breitburn Energy Partners LP Declares Increased Cash Distribution
Breitburn Energy Partners LP announced a cash distribution of $0.470 per unit for the fourth quarter 2012, or $1.88 per unit on an annualized basis, for all of its outstanding units. This distribution represents an increase from the third quarter 2012 distribution, which was $0.465 per unit, or $1.86 per unit on an annualized basis. The distribution will be payable on February 14, 2013 to the record holders of common units at the close of business on February 11, 2013. Full Article
Breitburn Energy Partners LP Announces Closing Of Acquisitions In Permian Basin
Breitburn Energy Partners LP announced that it has completed the acquisitions of oil and natural gas properties located in the Wolfberry Trend in the Permian Basin in Texas from CrownRock, L.P. and Lynden USA Inc. for a combined price of approximately $189 million, subject to customary post-closing adjustments. Full Article
Lynden Energy Corp To Sell USD25.0 Million Of Oil And Gas Properties To Breitburn Energy Partners L.P.
Lynden Energy Corp announced that the its owned subsidiary, Lynden USA Inc., has entered into a definitive agreement with BreitBurn Energy Partners L.P. of Los Angeles, California, for the sale of Lynden Energy Corp's interest in 16 gross (7.0 net) Wolfberry Project wells and underlying leases covering approximately 1,440 gross acres (630 acres net to Lynden) for proceeds of USD25.0 million. The sale will have an effective date of December 1, 2012, and is subject to customary closing conditions, including completion of due diligence by the buyer. The sale is expected to close in 2012. The purchase price will be subject to customary closing adjustments for a transaction of this type. Lynden Energy Corp has a 43.75% working interest in the wells to be sold and a right to earn a 43.75% working interest in the portion of the leases not already held by production. Lynden Energy Corp's working interest partner in the assets has also entered into an agreement to sell its interest. Lynden Energy Corp's net production, after royalties, from the wells to be sold is approximately 20% of Lynden Energy Corp's production at December 1, 2012. Full Article
Breitburn Energy Partners LP Announces Closing of Acquisition of Principally Oil Properties in Kern County, California
Breitburn Energy Partners LP announced that it has completed the acquisition of principally oil properties located in the Belridge Field in Kern County, California for approximately $40 million in cash and 3,013,561 common units representing limited partner interests in the Partnership from American Energy Operations, Inc. The acquisition was originally announced on November 23, 2012. Full Article
Breitburn Energy Partners LP Announces To Acquire Principally Oil Properties In Kern County, California
Breitburn Energy Partners LP announced that it has signed a definitive agreement to acquire principally oil properties located in the Belridge Field in Kern County, California for approximately $40 million in cash and 3,013,561 common units representing limited partner interests in the Partnership (Common Units). The acquisition is subject to closing conditions and purchase price adjustments and is expected to close in 2012. The cash consideration for the acquisition will be funded with borrowings under bank credit facility. The Common Units to be issued as partial consideration for the acquisition will be issued in a private placement and will not be registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The number of Common Units being issued as partial consideration for the acquisition will not be adjusted to account for changes in the unit price or for purchase price adjustments. Full Article
Breitburn Energy Partners LP Reaffirms H2 2012 Production Guidance-Conference Call
Breitburn Energy Partners LP announced that the Company is sticking with the second half of 2012 production guidance of 4.4 to 4.7 million BOE. Full Article
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