BREITBURN ENERGY PARTNERS LP (OTCMKTS:BBEPQ) Files An 8-K Termination of a Material Definitive Agreement

BREITBURN ENERGY PARTNERS LP (OTCMKTS:BBEPQ) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.

On June 7, 2017, Pacific Coast Energy Holdings LLC (“PCEH”), PCEC (GP) LLC (“PCEC GP”) and Pacific Coast Energy Company LP (“PCEC,” and collectively with PCEH and PCEC GP, the “PCEC Parties”) provided written notice to Breitburn Energy Partners LP (the “Partnership”), Breitburn GP LLC (“Breitburn GP”) and Breitburn Management Company LLC (“BMC,” and collectively with the Partnership and Breitburn GP, the “Breitburn Parties”) of their intent to terminate the Omnibus Agreement, dated August 26, 2008, among the PCEC Parties and the Breitburn Parties (as amended, the “Omnibus Agreement”), effectively immediately, to Section 4.12 of the Omnibus Agreement.
The Omnibus Agreement detailed rights between the PCEC Parties and the Breitburn Parties with respect to certain business opportunities. to Section 4.12 of the Omnibus Agreement, either PCEH, on behalf of the PCEC Parties, or BMC, on behalf of the Breitburn Parties, had the right to terminate the Omnibus Agreement at such time as PCEC and BMC ceased to be under common management or upon the termination of the Third Amended and Restated Administrative Services Agreement, dated as of May 8, 2012, by and between PCEC and BMC (as amended, the “Administrative Services Agreement”). As previously reported, the Administrative Services Agreement terminated on June 30, 2016. No early termination penalties will be incurred by any of the Breitburn Parties.


Breitburn Energy Partners LP is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil, natural gas liquid (NGL) and natural gas properties in the United States. The Company’s assets consist primarily of producing and non-producing oil, NGL and natural gas reserves located in approximately seven producing areas, which include Midwest (Michigan, Indiana and Kentucky); Ark-La-Tex (Arkansas, Louisiana and East Texas); Permian Basin in Texas and New Mexico; Mid-Continent (Oklahoma, Kansas and the Texas Panhandle); Rockies (Wyoming and Colorado); Southeast (Florida and Alabama), and California. Its midstream assets include transmission and gathering pipelines, gas processing plants, NGL recovery plants, a controlling interest in a salt water disposal company and the 120-mile Transpetco Pipeline. Its total estimated proved reserves are approximately 239.3 million barrels of oil equivalent (MMBoe).

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