Breitburn Energy Partners (BBEP) Will Suspend Common Units Distribution
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Breitburn Energy Partners Announces Suspension of Distribution for Common Units and Declares Monthly Distributions for Preferred Units
November 30, 2015 8:25 PM ESTLOS ANGELES--(BUSINESS WIRE)-- Breitburn Energy Partners LP (NASDAQ: BBEP) announced today that it has elected to suspend the distribution on its Common Units, effective immediately.
Halbert S. Washburn, Breitburns Chief Executive Officer said: In light of the ongoing weakness in commodity prices, and crude oil prices in particular, and after careful consideration, Breitburn has decided to suspend cash distributions on its Common Units. Since December of last year we have taken a series of proactive steps to address the ongoing challenges in the commodity markets. These included: 1) reducing our capital... More
