Breitburn Energy Partners Files Shelf Registration Statement on behalf of Existing Breitburn Series B Preferred Unitholders
June 12 2015 - 5:35PM
Business Wire
Breitburn Energy Partners LP (NASDAQ:BBEP) has filed a resale
shelf registration statement on Form S-3 with the Securities and
Exchange Commission today, as required under its registration
rights agreement related to its Series B Perpetual Convertible
Preferred Units.
On April 8, 2015, Breitburn completed a private placement of its
Series B Preferred Units with EIG Global Energy Partners and other
purchasers (Existing Series B Holders). The resale registration
statement filed today deals solely with Breitburn’s Series B
Preferred Units held by the Existing Series B Holders. Once
declared effective, the registration statement will provide the
Existing Series B Holders with an additional optional method for
reselling their Series B Preferred Units (or any common units that
may be issued upon the conversion of their Series B Preferred
Units) in the future, should they choose to do so.
Breitburn is not selling any securities under the resale
registration statement and will not receive any proceeds from the
sale of the Series B Preferred Units (or any common units that may
be issued upon the conversion of the Series B Preferred Units) by
the Existing Series B Holders, if a sale were to occur. No new
Breitburn units are being issued or offered under the registration
statement.
Cautionary Statement Regarding
Effectiveness
Assuming that the SEC declares the resale registration statement
to be effective, the Existing Series B Holders may offer Series B
Preferred Units (and any common units that may be issued upon the
conversion of the Series B Preferred Units) to the public, if they
choose, under the registration statement. If the Existing Series B
Holders offer the Series B Preferred Units (and any common units
that may be issued upon the conversion of the Series B Preferred
Units) through an underwritten offering, Breitburn will file a
prospectus supplement with the SEC setting forth the terms of the
underwritten offering.
The registration statement has been filed with the SEC, but is
not yet effective. The securities registered under the registration
statement may not be sold, nor may offers to buy be accepted, prior
to the time the registration statement becomes effective. This
press release is not intended to be and shall not constitute an
offer to sell, or the solicitation of an offer to buy, nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Breitburn Energy Partners
LP
Breitburn Energy Partners LP is a publicly traded, independent
oil and gas master limited partnership focused on the acquisition,
development, and production of oil and gas properties throughout
the United States. Breitburn’s producing and non-producing crude
oil and natural gas reserves are located in the following seven
producing areas: Ark-La-Tex, Michigan/Indiana/Kentucky, the Permian
Basin, Mid-Continent, the Rockies, Florida, and California.
Cautionary Statement Regarding
Forward-Looking Information
This press release contains forward-looking statements. All
statements included in this press release that address activities,
events or developments that Breitburn expects, believes or
anticipates will or may occur in the future are forward-looking
statements. These statements are based on certain assumptions made
by Breitburn based on management’s experience and perception of
historical trends, current conditions, anticipated future
developments and other factors believed to be appropriate. Such
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and other factors, some of which
are beyond our control and are difficult to predict, including
those which are set forth under the heading “Risk Factors” in our
Annual Report on Form 10-K filed with the Securities and Exchange
Commission, and if applicable, our Quarterly Reports on Form 10-Q
and our Current Reports on Form 8-K.
BBEP-IR
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Breitburn Energy Partners LPAntonio D'AmicoVice President,
Investor Relations & Government AffairsorJessica TangInvestor
Relations Manager(213) 225-0390