Breitburn Energy Partners Announces Trading to Begin on the OTC Market
May 24 2016 - 7:25PM
Business Wire
Breitburn Energy Partners LP (NASDAQ: BBEP) today announced that
its securities are expected to begin trading on the OTC Pink Sheets
marketplace on Wednesday, May 25, 2016, under the symbol “BBEPQ”
for its common units and “BBEPP” for its Series A Cumulative
Perpetual Preferred units.
Previously, on May 18th, Breitburn filed a report with the
Securities and Exchange Commission that trading of its common units
and Series A units would be suspended by NASDAQ at the open of the
market on May 25, 2016, and that NASDAQ would file a Form 25-NSE
with the SEC to remove the company’s securities from listing and
registration on NASDAQ. Breitburn does not intend to file a plan to
regain compliance or to appeal NASDAQ's determination.
Despite the transition of Breitburn’s common units and Series A
units to the OTC Pink Sheets, there is no assurance that either
security will continue to trade on the OTC Pink Sheets, that any
public market for Breitburn’s common units or Series A units will
exist in the future or that Breitburn will be able to relist its
common units or Series A units on any national securities exchange.
In addition, there is no assurance that any broker-dealer will
continue to agree to provide public quotes of Breitburn’s common
units or Series A preferred units or whether the trading volume of
either security will be sufficient to provide for an efficient
trading market.
About Breitburn Energy Partners
LP
Breitburn Energy Partners LP is an 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 Ark-La-Tex; the Midwest; the
Permian Basin; the Mid-Continent; the Rockies; the Southeast; and
California. See www.breitburn.com for more information.
Cautionary Statement Regarding
Forward-Looking Information
This press release contains forward-looking statements that
relate to future results and events that are not facts and
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on Breitburn’s current
expectations, estimates and assumptions and, as such, involve
certain risks and uncertainties. The ability of Breitburn to
predict results or the actual effects of its plans and strategies
is subject to inherent uncertainty. Actual results and events in
future periods may differ materially from those expressed or
implied by these forward-looking statements because of a number of
risks, uncertainties and other factors. All statements other than
statements of historical fact, including statements containing the
words “intends,” “believes,” “expects,” “will be,” and similar
expressions, are statements that could be deemed to be
forward-looking statements. In addition, the forward-looking
statements represent Breitburn’s views as of the date as of which
they were made. Breitburn anticipates that subsequent events and
developments may cause its views to change. However, although
Breitburn may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation
to do so. These forward-looking statements should not be relied
upon as representing Breitburn’s views as of any date subsequent to
the date hereof. Additional factors that may cause results to
differ materially from those described in the forward-looking
statements are set forth in Breitburn’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2016, which was filed with
the Securities and Exchange Commission on February 26, 2016, under
the headings “Risk Factors” and “Cautionary Statement Regarding
Forward-Looking Information,” as well as subsequent reports on Form
10-Q. Additional risks include, but are not limited to, those
associated with Breitburn’s filing for relief under chapter 11 of
the Bankruptcy Code.
BBEP-IR
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version on businesswire.com: http://www.businesswire.com/news/home/20160524006736/en/
Breitburn Energy Partners LPAntonio D’AmicoVice President,
Investor Relations & Government AffairsorJessica TangInvestor
Relations Manager(213) 225-0390