15 May 2014securities registration● Neutral
Breitburn Energy Partners LP filed a free-writing prospectus - marketing material for an offering in progress.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 May 2014securities registration● Neutral
Breitburn Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
8 May 2014quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $184.9 million for the period ended 2014-03-31.
8 May 2014quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $184.9 million for the period ended 2014-03-31.
28 Apr 2014debt financing▲ GoodMajor
Banks lifted the borrowing base to $1.6 billion, kept commitments at $1.4 billion and pushed the revolver out a year to May 2017. This was the high-water mark of lender confidence; every redetermination after the oil price broke went the other way.
20 Mar 2014securities registration● Neutral
Breitburn Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
20 Mar 2014material agreement● Neutral
Set up a $200 million at-the-market programme to dribble units into the market as needed. A cheaper, quieter version of the underwritten raises, and a sign that regular equity issuance was now permanent plumbing rather than an occasional event.
27 Feb 2014quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $177.3 million for the period ended 2013-12-31.
6 Jan 2014securities registration● Neutral
Breitburn Energy Partners LP registered a securities offering with the SEC using its shelf eligibility.
31 Dec 2013asset acquisition disposition● NeutralMajor
Closed the third CrownRock deal plus $20 million of extra interests. The disclosure that matters is the last line: $727 million drawn against $1.4 billion of lender commitments, after roughly $1.15 billion of acquisitions in 2013 alone.
13 Dec 2013material agreement● NeutralMajor
A third CrownRock purchase, $282 million for more Permian acreage, with Breitburn saying it would hedge five years of the acquired production immediately. The hedges were the whole thesis: buy long-life production on debt and lock in the price.
22 Nov 2013debt financing● NeutralMajor
Issued a further $400 million of the 7.875% 2022 notes, taking that single issue to $850 million. Combined with the 2020 notes, unsecured bond debt was now well over $1.1 billion - the same notes whose holders would later be wiped down to a rights offering in bankruptcy.
20 Nov 2013securities registration● Neutral
Breitburn Energy Partners LP filed the final prospectus for a registered offering.
20 Nov 2013securities registration● Neutral
Breitburn Energy Partners LP filed a free-writing prospectus - marketing material for an offering in progress.
19 Nov 2013securities registration● Neutral
Breitburn Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
18 Nov 2013material agreement● Neutral
Sold 19 million units at $18.22 for about $333 million to repay the borrowings used for Whiting. Each raise is bigger and each price lower than the last.
14 Nov 2013securities registration● Neutral
Breitburn Energy Partners LP filed the final prospectus for a registered offering.
12 Nov 2013securities registration● Neutral
Breitburn Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
6 Nov 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $143.4 million for the period ended 2013-09-30.
6 Nov 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $143.4 million for the period ended 2013-09-30.
27 Sept 2013securities registration● Neutral
Breitburn Energy Partners LP amended its automatic shelf registration statement.
23 Aug 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $217.0 million for the period ended 2013-06-30.
6 Aug 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $217.0 million for the period ended 2013-06-30.
6 Aug 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $217.0 million for the period ended 2013-06-30.
18 July 2013asset acquisition disposition● NeutralMajor
Closed the Whiting purchase at about $846 million, with Whiting continuing to run the fields until the end of October. Breitburn had roughly doubled its debt to buy a mature enhanced-oil-recovery project whose economics depend on a high oil price.
25 June 2013material agreement● NeutralMajor
Agreed to buy Whiting's Postle and North East Hardesty oil fields in Oklahoma's Texas County for about $859.8 million cash, with the related gas plant, CO2 and oil pipelines and CO2 supply contracts. It also took a 60% interest in Transpetco and used a $85.98 million deposit.
3 May 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $96.9 million for the period ended 2013-03-31.
3 May 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $96.9 million for the period ended 2013-03-31.
3 May 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $96.9 million for the period ended 2013-03-31.
28 Feb 2013quarterly activities report● Neutral
Breitburn Energy Partners LP reported quarterly revenue of $117.6 million for the period ended 2012-12-31.