BreitBurn Energy Partners L.P. Reports Third Quarter Results.
Business Wire › November 04, 2010
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BreitBurn Energy Partners L.P. Reports Third Quarter Results.
Key Metrics Continue To Exceed Expectations
LOS ANGELES -- BreitBurn Energy Partners L.P. (the "Partnership") (NASDAQ:BBEP) today announced financial and operating results for its third quarter of 2010.Key Highlights * The Partnership continues to perform well both operationally and financially, delivering another quarter of solid results. Adjusted EBITDA and production are trending above the high end of guidance.* Production increased 4.7% from the prior quarter to 1,741 MBoe while lease operating expenses declined approximately 7.2% from the prior quarter to $16.54 per Boe.* On October 6, 2010, the Partnership completed a private offering of $305 million in aggregate principal amount of 8.625% Senior Notes due 2020. The Partnership received net proceeds of approximately $291.4 million, which were primarily used to reduce borrowings under its bank credit facility. As of September 30, 2010, the Partnership had $516 million outstanding under the facility. As of October 31, 2010, the Partnership had $220 million outstanding under the facility and $439 million in ...See the full content of this document
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