Breitburn Energy Partners LP (NASDAQ:BBEP) announced today distributions
for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units
(NASDAQ: BBEPP) and 8% Series B Perpetual Convertible Preferred Units. A
cash distribution of $0.171875 per Series A Unit is payable on February
15, 2016, to record holders of its Series A Units at the close of
business on January 29, 2016. 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
January 15, 2016, to record holders of Series B Units at the close of
business on December 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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Copyright Business Wire 2016
Source: Business Wire
(January 4, 2016 - 9:00 AM EST)
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