16 June 2016director interest notice● Neutral
Breitburn Energy Partners LP director John R Butler Jr. sold 2,189 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 June 2016director interest notice● Neutral
Breitburn Energy Partners LP director John R Butler Jr. sold 13,416 shares at $0.07.
10 June 2016listing compliance notice● NeutralMajor
Breitburn Energy Partners LP's exchange filed to remove a class of its securities from listing.
7 June 2016director interest notice● Neutral
Breitburn Energy Partners LP director Charles S Weiss sold 71,504 shares.
2 June 2016director interest notice● Neutral
Breitburn Energy Partners LP director John R Butler Jr. sold 20,000 shares at $0.08.
2 June 2016director interest notice● Neutral
Breitburn Energy Partners LP Executive VP and CFO James G Jackson sold 159,390 shares at $0.09.
2 June 2016director interest notice● Neutral
Breitburn Energy Partners LP director Randall Hart Breitenbach sold 610,840 shares at $0.08.
1 June 2016director interest notice● Neutral
Breitburn Energy Partners LP EVP, Gen. Counsel, CAO Gregory C Brown sold 432,374 shares at $0.12.
1 June 2016director interest notice● Neutral
Breitburn Energy Partners LP Chief Executive Officer Halbert S Washburn sold 839,106 shares.
27 May 2016director interest notice● Neutral
Breitburn Energy Partners LP director John R Butler Jr. disposed of 83,000 shares.
26 May 2016director interest notice● Neutral
Breitburn Energy Partners LP director David B Kilpatrick sold 96,256 shares at $0.07.
26 May 2016director interest notice● Neutral
Breitburn Energy Partners LP President and COO Mark L Pease sold 495,457 shares at $0.11.
26 May 2016director interest notice● Neutral
Breitburn Energy Partners LP Executive VP and CFO James G Jackson sold 260,677 shares at $0.17.
26 May 2016director interest notice● Neutral
Breitburn Energy Partners LP Chief Executive Officer Halbert S Washburn sold 42,225 shares.
26 May 2016debt financing● NeutralMajor
The $75 million debtor-in-possession facility was signed, with Wells Fargo as agent and the pre-bankruptcy revolver lenders as the lenders, maturing January 2017. The banks that financed the acquisition spree stepped straight into the senior, court-protected position ahead of everyone else.
24 May 2016director interest notice● Neutral
Breitburn Energy Partners LP Senior Vice President Willis Jackson Washburn sold 111,566 shares.
23 May 2016director interest notice● Neutral
Breitburn Energy Partners LP director Gregory J Moroney sold 51,852 shares at $0.07.
23 May 2016director interest notice● Neutral
Breitburn Energy Partners LP director Donald D Wolf sold 187,622 shares at $0.09.
19 May 2016director interest notice● Neutral
Breitburn Energy Partners LP VP, Controller & Chf Actg Ofcr Lawrence C Smith sold 88,677 shares at $0.06.
19 May 2016director interest notice● Neutral
Breitburn Energy Partners LP VP and Treasurer Bruce D Mcfarland sold 41,012 shares at $0.06.
18 May 2016listing compliance notice▼ BadMajor
Nasdaq told Breitburn on 16 May 2016, a day after the Chapter 11 filing, that it would delist the units, citing the filing and concerns about unitholders' residual equity. Breitburn said it would not appeal and expected the units to be quoted on the OTC Pink market.
16 May 2016bankruptcy or receivership▼ BadMajor
Breitburn filed for Chapter 11 in New York on 15 May 2016 with a $75 million debtor-in-possession loan arranged by the same revolver banks it already owed. The cause was not a bad well but the arithmetic of the model itself: nine years of buying producing assets with bank debt and refinancing it with units and bonds left roughly $3 billion of borrowings against reserves the 2014-16 price collapse had revalued far below them.
10 May 2016quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $148.0 million for the period ended 2016-03-31.
9 May 2016quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $148.0 million for the period ended 2016-03-31.
1 Apr 2016material agreement▼ BadMajor
Lenders agreed to delay the spring borrowing base redetermination by a month and cut committed lending from $1.8 billion to $1.4 billion. The delay bought a few weeks; the cut confirmed the banks were shrinking their exposure ahead of a reserve revaluation nobody expected Breitburn to survive.
11 Feb 2016material agreement termination▼ Bad
PCEC, the affiliated California company created in the 2008 Provident split, gave notice to end the services agreement under which Breitburn ran its assets for $700,000 a month. A reliable fee stream disappearing at the worst possible moment, and the beginning of the unwinding of that relationship.
22 Jan 2016listing compliance notice▼ BadMajor
Nasdaq warned that Breitburn's units had traded below $1 for 30 straight days, giving it until July to recover. Units that were sold at $18-21 through the acquisition years were now worth less than a dollar.
5 Nov 2015quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $412.3 million for the period ended 2015-09-30.
5 Nov 2015quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $412.3 million for the period ended 2015-09-30.
11 Sept 2015securities registration● Neutral
Breitburn Energy Partners LP filed the final prospectus for a registered offering.