LOS ANGELES--(BUSINESS WIRE)--Breitburn Energy Partners LP (OTC: BBEPQ) today announced that its securities began trading on the OTC Pink Sheets marketplace under the symbol “BBEPQ” for its common units and “BBPPQ” for its Series A Cumulative Perpetual Preferred units.
Previously, on May 18th, Breitburn filed a report with the Securities and Exchange Commission that trading of its common units and Series A units would be suspended by NASDAQ at the open of the market on May 25, 2016, and that NASDAQ would file a Form 25-NSE with the SEC to remove the company’s securities from listing and registration on NASDAQ. Breitburn does not intend to file a plan to regain compliance or to appeal NASDAQ's determination.
Despite the transition of Breitburn’s common units and Series A units to the OTC Pink Sheets, there is no assurance that either security will continue to trade on the OTC Pink Sheets, that any public market for Breitburn’s common units or Series A units will exist in the future or that Breitburn will be able to relist its common units or Series A units on any national securities exchange. In addition, there is no assurance that any broker-dealer will continue to agree to provide public quotes of Breitburn’s common units or Series A preferred units or whether the trading volume of either security will be sufficient to provide for an efficient trading market.
About Breitburn Energy Partners LP
Breitburn Energy Partners LP is an independent oil and gas master limited partnership focused on the acquisition, development, and production of oil and gas properties throughout the United States. Breitburn’s producing and non-producing crude oil and natural gas reserves are located in Ark-La-Tex; the Midwest; the Permian Basin; the Mid-Continent; the Rockies; the Southeast; and California. See www.breitburn.com for more information.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements that relate to future results and events that are not facts and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Breitburn’s current expectations, estimates and assumptions and, as such, involve certain risks and uncertainties. The ability of Breitburn to predict results or the actual effects of its plans and strategies is subject to inherent uncertainty. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. All statements other than statements of historical fact, including statements containing the words “intends,” “believes,” “expects,” “will be,” and similar expressions, are statements that could be deemed to be forward-looking statements. In addition, the forward-looking statements represent Breitburn’s views as of the date as of which they were made. Breitburn anticipates that subsequent events and developments may cause its views to change. However, although Breitburn may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Breitburn’s views as of any date subsequent to the date hereof. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in Breitburn’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, which was filed with the Securities and Exchange Commission on February 26, 2016, under the headings “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Information,” as well as subsequent reports on Form 10-Q. Additional risks include, but are not limited to, those associated with Breitburn’s filing for relief under chapter 11 of the Bankruptcy Code.