Businessweek

Breitburn Energy Partners L.P. (NasdaqGS:BBEP) is seeking acquisitions. Hal Washburn, Chief Executive Officer of Breitburn Energy said, "We continue to actively monitor the acquisition market and our balance sheet should allow us to move quickly on the right opportunity."

Breitburn Energy Partners L.P. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss attributable to the company, including the effect of unrealized losses on commodity derivative instruments, of $36.3 million or $0.38 per diluted common unit compared to a net loss of $49.97 million or $0.76 per diluted common unit in the first quarter of 2012. Total revenues were $96.94 million compared to $59.15 million reported a year ago. Adjusted EBITDA was $64.07 million compared to $61.36 million reported a year ago. Net cash provided by operating activities was $58.85 million compared to $71.3 million reported a year ago. Operating loss was $17.85 million compared to $36.2 million reported a year ago. Loss before taxes was $36.27 million compared to $50.48 million reported a year ago. Capital expenditures were $38.14 million compared to $14.05 million reported a year ago. The decrease in adjusted EBITDA from the fourth quarter of 2012 was primarily due to lower realized gains on commodity derivatives for both crude oil and natural gas, weaker oil differentials in Wyoming and Texas, weaker natural gas differentials in Michigan, as well as weaker natural gas liquids market prices. For the quarter, the company reported total production of 2,346 million boe, oil and NGLs of 1,206 million boe and natural gas of 6,844 MMcf compared to total production of 1,987 million boe, oil and NGLs of 859 million boe and natural gas of 6,769 MMcf reported a year ago. Average daily production was 26,070 Boe/d compared to 21,835 Boe/d reported a year ago. The company's 2013 drilling program has already delivered better than expected results and it is on track with its $261 million capital program and delivery of its full year production guidance of between 9.5 million and 10.1 million Boe. The company expects liquids production to increase by over 40% from the fourth quarter of 2012 to the fourth quarter of 2013 and exit the year with liquids comprising approximately 55% of total production. Over 95% of 2013 capital spending will be on its high-margin oil projects, including those in Texas and California where it has been experiencing good drilling results.

Breitburn Energy Partners L.P., Q1 2013 Earnings Call, May 03, 2013

Breitburn Energy Partners L.P. announced that they will report Q1, 2013 results at 2:00 PM, GMT Standard Time on May 03, 2013

Breitburn Energy Partners L.P. announced a cash distribution of $0.475 per unit for the first quarter 2013, or $1.90 per unit on an annualized basis, for all of its outstanding units. This distribution represents an increase from the fourth quarter 2012 distribution, which was $0.470 per unit, or $1.88 per unit on an annualized basis. The distribution will be payable on May 14, 2013 to the record holders of common units at the close of business on May 6, 2013.