Breitburn Energy Partners LP | 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (BBEPP)

Prospectus excerpt:  We are offering 7,000,000 units of 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (˘Series A Preferred Units÷) of BreitBurn Energy Partners L.P.

Distributions on the Series A Preferred Units are cumulative from the date of original issue and will be payable monthly in arrears on the 15th day of each month of each year, when, as and if declared by the board of directors of our general partner (the ˘Board of Directors÷). The initial distribution on the Series A Preferred Units offered hereby will be payable on July 15, 2014 in an amount equal to $0.309375 per unit. Distributions on the Series A Preferred Units will be payable out of amounts legally available therefor at an initial rate equal to 8.25% per annum of the stated liquidation preference.

At any time on or after May 15, 2019, we may redeem the Series A Preferred Units, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. We may also redeem the Series A Preferred Units in the event of a Change of Control. See ˘Description of Series A Preferred Units¨Change of Control.÷

Full Prospectus PDF », BBEP Page »

Call Date:5/15/2019 (Now Trading Post Call Date)
Shares Offered:7,000,000
Liquidation Preference:$25
Original Coupon:8.25%
Pay Period:Monthly
CDx3 Compliance Rating: Learn BBEPP's Rating
Breitburn Energy Partners is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil, natural gas liquid (NGL) and natural gas properties in the U.S. Co.'s assets consist primarily of producing and non-producing oil, NGL and natural gas reserves located in seven producing areas: Arkansas, Louisiana and East Texas; Michigan, Indiana and Kentucky; Permian Basin in Texas and New Mexico; Mid-Continent (Oklahoma, Kansas and the Texas Panhandle); Rockies (Wyoming); Florida (and Alabama); and California. As of Dec 31 2014, Co.'s total estimated proved reserves were 315.3 million barrels of oil equivalent.

Preferred: BBEPP

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Breitburn Energy Partners LP
Oil & Gas Exploration & Production

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