Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update
BreitBurn Delivers Record Quarter Ahead of QR Merger Deal
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Breitburn Energy Partners LP has announced financial and operating results for the second quarter of 2014.
Breitburn and QR Energy, LP also reported the signing of a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange valued at approximately $3.0 billion, including QR Energy’s existing net debt and outstanding Class C Convertible Preferred Units.
Key Highlights for the Second Quarter 2014: Increased total production to a record quarterly high of 3.4 MMBoe, which represents a 38% increase from the second quarter of 2013. Increased oil and natural gas liquids (NGL) production to a record quarterly high of 2.2 MMBoe, which represents a 69% increase from the second quarter of 2013. Adjusted EBITDA, a non-GAAP financial measure, was…Finish this article — free account or subscription
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