Last $6.56 USD
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breitburn energy partners lp (BBEP) Key Developments

Breitburn Energy Partners L.P. Declares Common and Preferred Unit Distributions, Payable on February 13, 2015 and March 16, 2015 Respectively

Breitburn Energy Partners LP announced a cash distribution of $0.0833 per common unit for the second month attributable to the fourth quarter of 2014, payable on February 13, 2015, to record holders of its common units at the close of business on February 9, 2015. This monthly distribution is equal to a distribution of $1.00 per common unit on an annualized basis. The company also announced a cash distribution for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units of $0.171875 per Series A Unit, payable on March 16, 2015, to record holders of its Series A Units at the close of business on February 27, 2015. This monthly distribution is equal to an annual distribution of $2.0625 per Series A Unit.

Breitburn Energy Partners Declares Common and Preferred Unit Distributions Payable on January 16, 2015 and February 16, 2015; Provides Production and Earnings Guidance for the Year 2015

Breitburn Energy Partners LP announced cash distribution per common unit of $0.0833 for the first month attributable to the fourth quarter of 2014, or $1.00 per unit on an annualized basis. This amount will be payable on January 16, 2015, to unit holders of record at the close of business on January 13, 2015, and represents a reduction from Breitburn’s last monthly payment which was $0.1733 per Common Unit or $2.08 per unit on an annualized basis. A cash distribution for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units of $0.171875 per Series A Unit. This amount is unchanged from prior levels and is equal to an annual distribution of $2.0625 per Series A Unit. The Series A distribution is payable on February 16, 2015, to record holders of the Series A Units at the close of business on January 30, 2015. The company provided production and earnings guidance for the year 2015. For the period, the company expected total production in the range 19,500 MBoe to 20,700 MBoe. Adjusted EBITDA is expected to range between $650.0 million and $700.0 million. Maintenance capital expenditures are expected to $200 million. Maintenance Capital Expenditures excludes capital expense for acquisitions as well as information technology spending of approximately $15.0 million. Maintenance capital is defined as the estimated amount of investment in capital projects and obligatory spending on existing facilities and operations needed to hold production approximately flat over a multi-year period.

Breitburn Energy Partners L.P. Increases Monthly Dividend Payable on Dec. 12, 2014

Breitburn Energy Partners L.P. announced that it will boost its monthly dividend by 3.5% to $0.1733 relative to the previous dividend announcement. The dividend will be payable on Dec. 12, 2014 to holders of record on Dec. 8, 2014.

Breitburn Energy Partners LP Appoints Donald D. Wolf to Its Board of Directors

Breitburn Energy Partners LP announced that it completed the acquisition of QR Energy, LP on November 19, 2014. In connection with the acquisition, Breitburn has elected Donald D. Wolf to its Board of Directors. Mr. Wolf is the former Chairman and CEO of Westport Resources Corporation and former Chairman of QR Energy. Mr. Wolf has served as the Chairman of Quantum Resources since its founding in 2006 and is also on the boards of Aspect Resources, Enduring Resources, MarkWest Energy Partners and Laredo Petroleum.

Breitburn Energy Partners L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 11:15 AM

Breitburn Energy Partners L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 11:15 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 1002, United States. Speakers: Antonio D'Amico, VP or IR & Gov. Affairs, Halbert S. Washburn, Chief Executive Officer of Breitburn GP LLC and Director of Breitburn GP LLC, James G. Jackson, Chief Financial Officer of Officer of Breitburn GP LLC Executive Vice President of Breitburn GP LLC, Mark L. Pease, President of Breitburn GP LLC and Chief Operating Officer of Breitburn GP LLC.

 

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