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EX-99.1 - EXHIBIT 99.1 - Breitburn Energy Partners LP | v331118_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
December 28, 2012 (December 28, 2012)
BREITBURN ENERGY PARTNERS L.P.
(Exact name of Registrant as specified in its charter)
Delaware | 001-33055 | 74-3169953 | |||||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | |||||
515 South Flower Street, Suite 4800
Los Angeles, CA 90071
(Address of principal executive office)
(213) 225-5900
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
Closing of Previously Reported Acquisitions
BreitBurn Energy Partners L.P. (the “Partnership”) is providing the following updated disclosure with respect to its Current Report on Form 8-K filed on December 12, 2012.
On December 28, 2012, the Partnership completed two separate acquisitions by BreitBurn Operating L.P. (“BreitBurn Operating”), a wholly owned subsidiary of the Partnership, of certain oil and natural gas assets (the “CrownRock Assets”) from CrownRock, L.P. (“CrownRock”), as seller, (the “CrownRock Purchase Agreement”) and certain oil and natural gas assets (the “Lynden Assets”) from Lynden USA Inc. (“Lynden”), as seller, (the “Lynden Purchase Agreement”).
The CrownRock and Lynden Assets acquired by BreitBurn Operating consist of oil and natural gas properties located in the Permian Basin of Texas. Pursuant to the terms and conditions of the CrownRock Purchase Agreement, BreitBurn Operating completed the acquisition of the CrownRock Assets in exchange for approximately $164 million in cash, subject to customary post-closing adjustments (the “CrownRock Acquisition”). Pursuant to the terms and conditions of the Lynden Purchase Agreement, BreitBurn Operating completed the acquisition of the Lynden Assets in exchange for approximately $25 million in cash, subject to customary post-closing adjustments (the “Lynden Acquisition,” and together with the Crownrock Acquisition, the “Acquisitions”).
After the completion of the Acquisitions, the amount of debt outstanding under the Partnership’s credit facility is $347 million with current lender commitments of $900 million.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the CrownRock Purchase Agreement and Lynden Purchase Agreement, previously filed on December 12, 2012 as Exhibits 10.1 and 10.2, respectively, to our Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure.
On December 28, 2012, the Partnership issued a press release announcing the completion of the CrownRock and Lynden Acquisitions. A copy of the press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein solely for the purposes of this Item 7.01 disclosure.
The information set forth in this Current Report on Form 8-K provided under Item 7.01 and in Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, unless the Partnership specifically states that the information is to be considered “filed” under the Exchange Act or incorporates it by reference into a filing under the Exchange Act or the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 BreitBurn Energy Partners L.P. press release dated December 28, 2012 announcing completion of the CrownRock and Lynden Acquisitions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
BREITBURN ENERGY PARTNERS L.P. | ||||||
By: | BREITBURN GP, LLC, | |||||
its general partner | ||||||
Dated: December 28, 2012 | By: |
/s/James G. Jackson | ||||
James G. Jackson Chief Financial Officer and Executive Vice President | ||||||
EXHIBIT INDEX
Exhibit No. |
Document | |
99.1 |
BreitBurn Energy Partners L.P. press release dated December 28, 2012 announcing completion of the CrownRock and Lynden Acquisitions. |