Breitburn Energy Partners Announces Monthly Cash Distributions for Common and Preferred Units
July 31 2015 - 3:22PM
Business Wire
Breitburn Energy Partners LP (NASDAQ:BBEP) announced today a
cash distribution of $0.04166 per common unit for the second month
attributable to the second quarter of 2015, payable on August 14,
2015, to record holders of its common units at the close of
business on August 11, 2015. This monthly distribution is equal to
a distribution of $0.50 per common unit on an annualized basis.
Breitburn also announced today distributions for its 8.25%
Series A Cumulative Redeemable Perpetual Preferred Units (NASDAQ:
BBEPP) and 8.0% Series B Perpetual Convertible Preferred Units. A
cash distribution of $0.171875 per Series A Unit is payable on
September 15, 2015, to record holders of its Series A Units at the
close of business on August 31, 2015. This monthly distribution is
equal to an annual distribution of $2.0625 per Series A Unit.
Breitburn has elected to pay the distribution on the Series B Units
in kind by issuing additional Series B Units instead of paying a
cash distribution. A distribution of 0.006666 PIK unit per
Series B Unit is payable on August 17, 2015, to record holders of
Series B Units at the close of business on July 31, 2015.
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. See
www.breitburn.com for more information.
Cautionary Statement Regarding
Forward-Looking Information
This press release contains forward-looking statements. All
statements, other than statements of historical facts, 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.
Non-U.S. investors are not eligible holders of Breitburn common,
Series A Units, and Series B Units. This press release is intended
to provide a qualified notice under Treasury Regulation Section
1.1446-4(b). Brokers and nominees should treat one hundred percent
(100.0%) of Breitburn’s distributions to non-U.S. investors as
being attributable to income that is effectively connected with a
U.S. trade or business. Accordingly, Breitburn’s distributions to
non-U.S. investors are subject to federal income tax withholding at
the highest applicable effective tax rate.
BBEP-IR
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version on businesswire.com: http://www.businesswire.com/news/home/20150731005818/en/
Breitburn Energy Partners LPAntonio D'AmicoVice President,
Investor Relations & Government AffairsorJessica TangInvestor
Relations Manager213-225-0390