- For the full year 2012, the Partnership reported record net production and Adjusted EBITDA which increased 18% and 31%, respectively, from 2011. For the fourth quarter of 2012, net production increased 7% and Adjusted EBITDA increased 21% from the fourth quarter of 2011.
- On February 14, 2013, the Partnership increased its cash distributions for the fourth quarter of 2012 to $0.47 per unit, or $1.88 per unit on an annualized basis.
- For the full year 2012, the Partnership paid cash distributions of $1.85 per unit, representing an increase of 7.2% over 2011 cash distributions of $1.73 per unit.
- On December 3, 2012, the Partnership completed the acquisition of oil and gas properties in Kern County, California for approximately $38 million in cash and approximately 3 million common units.
- On December 28, 2012, the Partnership completed acquisitions of oil and gas properties in the Permian Basin in Texas for approximately $202 million.
- On February 7, 2013, the Partnership completed a public offering of 14.95 million common units. Net proceeds from the offering were used to reduce borrowings under the Partnership’s bank credit facility.
- As of February 27, 2013, the Partnership had $77 million in outstanding borrowings under its credit facility, which has total lender commitments of $900 million and the ability to increase commitments to $1 billion with lender approval.
BreitBurn Energy Partners L.P. Reports Fourth Quarter And Record Full Year Production And EBITDA Results; Provides Full Year 2013 Guidance
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