Company Overview and News
Mid-Con Energy Partners LP is one of few upstream master limited partnerships still in the game after years of depressed oil prices. (10-0)
While I have never recommended the common, at times I've considered the preferred and debt to have favorable risk versus reward. (48-1)
An official equity committee might be needed to defend shareholders' 2% new equity under the plan. (84-0)
WILMINGTON, Del. (Reuters) - Breitburn Energy Partners LP (BBEPQ.PK) detailed plans at a Thursday court hearing to exit bankruptcy by transferring the oil-and-gas producer’s assets to creditors, but opponents pressed for an auction of main reserves to generate more money. (5-0)
Breitburn Energy Partners LP (OTCPK:BBEPQ) filed a new reorganization plan (docket 1690) and a disclosure statement (docket 1691) very late October 11. There was a conference today to set the hearing date of November 14 for the approval of the disclosure statement and rights offer. (5-0)
GulfMark Offshore's reorganization plan gives non-accredited noteholders compensation for not being able to participate in a rights offer. (85-0)
FT. LAUDERDALE, Fla., Oct. 3, 2017 /PRNewswire/ -- On the heels of helping investors recover losses after brokers recommended BreitBurn Energy Partners LP., the Mark A. Tepper law firm announced today that it is continuing its investigation into alleged claims against Hilliard Lyons and other brokerage firms for recommending BreitBurn to customers. (44-0)
The court fight over reorganization plans for Breitburn Energy Partners LP (OTCPK:BBEPQ) could get very intense and result in multiple plans/disclosure statements seeking approval by various stakeholders. This could be another Tribune Media Company (NYSE:TRCO), where there were three plans (after one group withdrew) in an unusual 2010 bankruptcy case. Under all the plans proposed, BBEPQ equity holders would get no recovery and could get a CODI tax liability. (6-0)
FT. LAUDERDALE, Fla., Aug. 15, 2017 /PRNewswire/ -- A Broward Circuit Court has ruled that in addition to damages, Merrill Lynch must also pay attorney's fees, interest and costs for a retiree. The ruling follows the successful arbitration results obtained by the Mark Tepper law firm against Merrill Lynch. The brokerage firm had recommended BreitBurn [OTCMKTS: BBEPQ], to the retiree.
* Breitburn Energy Partners - on Aug 9, bankruptcy court entered order authorizing debtors to enter into swap agreements with certain of dip lenders (0-1)
WILMINGTON, Del./CHICAGO, Aug 1 (Reuters) - Energy businesses that are trying to exit bankruptcy are finding a saviour in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts.
WILMINGTON, Del./CHICAGO (Reuters) - Energy businesses that are trying to exit bankruptcy are finding a savior in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts.
The bankruptcy case for Breitburn Energy Partners LP (OTCPK:BBEPQ) seems like it will never end. The exclusive period to file a plan was extended again (docket 1453) to September 12 during a hearing held on July 19. This contrasts with many other bankrupt energy companies that have already emerged from Chapter 11. The various stakeholders of Breitburn have not been able to agree on a reorganization plan because of the volatility in commodity prices, and major hedge funds are battling over the new Breitburn Energy equity.
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Breitburn's business strategy has been to manage their oil, NGL, and natural gas producing properties to generate cash flow and make distributions to their economic stakeholders. (0-1)
2017-10-28 - Wilton
2017-10-25 - Wilton
2017-10-10 - Wilton
2017-10-09 - Wilton
2017-08-25 - Wilton