Last $7.02 USD
Change Today -0.04 / -0.57%
Volume 2.6M
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As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

breitburn energy partners lp (BBEP) Key Developments

Breitburn Energy Partners L.P. Increases Monthly Dividend Payable on Dec. 12, 2014

Breitburn Energy Partners L.P. announced that it will boost its monthly dividend by 3.5% to $0.1733 relative to the previous dividend announcement. The dividend will be payable on Dec. 12, 2014 to holders of record on Dec. 8, 2014.

Breitburn Energy Partners LP Appoints Donald D. Wolf to Its Board of Directors

Breitburn Energy Partners LP announced that it completed the acquisition of QR Energy, LP on November 19, 2014. In connection with the acquisition, Breitburn has elected Donald D. Wolf to its Board of Directors. Mr. Wolf is the former Chairman and CEO of Westport Resources Corporation and former Chairman of QR Energy. Mr. Wolf has served as the Chairman of Quantum Resources since its founding in 2006 and is also on the boards of Aspect Resources, Enduring Resources, MarkWest Energy Partners and Laredo Petroleum.

Breitburn Energy Partners L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 11:15 AM

Breitburn Energy Partners L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 11:15 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 1002, United States. Speakers: Antonio D'Amico, VP or IR & Gov. Affairs, Halbert S. Washburn, Chief Executive Officer of Breitburn GP LLC and Director of Breitburn GP LLC, James G. Jackson, Chief Financial Officer of Officer of Breitburn GP LLC Executive Vice President of Breitburn GP LLC, Mark L. Pease, President of Breitburn GP LLC and Chief Operating Officer of Breitburn GP LLC.

QR Energy, LP, QRE GP, LLC, Breitburn Energy Partners L.P., Breitburn GP, LLC and Boom Merger Sub, LLC Reach an Agreement in Principle to Settle Consolidated Unitholder Class Action Lawsuit on Behalf of QR Energy, LP's Common Unitholders

On November 10, 2014, QR Energy, LP, (‘QRE’), QRE GP, LLC (‘QRE GP’), Breitburn Energy Partners L.P. (‘Breitburn’), Breitburn GP, LLC (‘Breitburn GP’) and Boom Merger Sub, LLC (‘Merger Sub’) reached an agreement in principle to settle a consolidated unitholder class action lawsuit on behalf of QRE common unitholders filed in the United States District Court for the Southern District of Texas on the terms and conditions set forth in a memorandum of understanding. The Consolidated Unitholder Action, captioned In re QR Energy LP Unitholder Litigation, No. 4:14-cv-02195, names as defendants QRE, QRE GP, the members of the QRE GP board of directors, Breitburn, Breitburn GP and Merger Sub. Plaintiffs in the Consolidated Unitholder Action each allege that the director defendants breached their fiduciary duties of loyalty, due care, good faith, and independence owed to the QRE unitholders by allegedly approving the Agreement and Plan of Merger dated July 24, 2014, by and among QRE, Breitburn and Merger Sub, at an unfair price and through an unfair process. The settlement will not affect the timing of the special meeting of the QRE unitholders, which is scheduled to be held on November 18, 2014, or the amount of the consideration to be paid to QRE unitholders in connection with the proposed transaction. The settlement is not, and should not be construed as, an admission of wrongdoing or liability by any defendant. The defendants continue to believe that the Consolidated Unitholder Action is without merit and vigorously deny the allegations contained therein. However, to avoid the risk of the Consolidated Unitholder Action delaying or adversely affecting the merger, to minimize the substantial expense, burden, distraction and inconvenience of continued litigation and to fully and finally resolve the claims, QRE, Breitburn and Merger Sub have agreed to make these amended and supplemental disclosures to the Proxy Statement/Prospectus. The memorandum of understanding contemplates that the parties will enter into a stipulation of settlement. The memorandum of understanding further provides that, among other things, the parties will submit the Stipulation to the Delaware court for review and approval; the Stipulation will provide for dismissal with prejudice of the Consolidated Unitholder Action; all proceedings in the Consolidated Unitholder Action, except for those related to the settlement, shall be stayed and the plaintiffs agree to stay and not to initiate any other proceedings other than those incident to the settlement itself; the Stipulation will include a general release of defendants of all claims relating to the merger and related transactions and the proposed settlement is conditioned on, among other things, consummation of the merger, class certification and final approval of the settlement. In connection with the settlement of the Consolidated Unitholder Action, QRE and Breitburn have agreed to make the following amended and supplemental disclosures to the proxy statement/prospectus filed with the Securities and Exchange Commission on October 17, 2014.

Breitburn Energy Partners L.P. Presents at Jefferies 2014 Global Energy Conference, Nov-11-2014 11:30 AM

Breitburn Energy Partners L.P. Presents at Jefferies 2014 Global Energy Conference, Nov-11-2014 11:30 AM. Venue: St Regis Hotel, 1919 Briar Oaks Lane, Houston, Texas, United States.

 

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