LOS ANGELES--(BUSINESS WIRE)--BreitBurn Energy Partners L.P. (NASDAQ:BBEP) (the “Partnership”) announced today a cash distribution of $0.1642 per unit for the first monthly payment attributable to the fourth quarter, or $1.97 per unit on an annualized basis, for all of its outstanding units. The distribution will be payable on January 16, 2014 to the record holders of common units at the close of business on January 13, 2014. This marks the commencement of the Partnership’s payment of distributions on a monthly basis to unitholders after it announced that it would convert to a monthly payment policy from a quarterly payment policy on November 6, 2013.
About BreitBurn Energy Partners L.P.
BreitBurn Energy Partners L.P. is a publicly-traded independent oil and gas limited partnership focused on the acquisition, exploitation, development and production of oil and gas properties. The Partnership’s producing and non-producing crude oil and natural gas reserves are located in Michigan, Wyoming, Oklahoma, California, Florida, Texas, Indiana and Kentucky. See www.BreitBurn.com for more information.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Partnership based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, BreitBurn undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Unpredictable or unknown factors not discussed herein also could have material adverse effects on forward-looking statements. See "Risk Factors" in the Partnership's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 29, 2012 and other public filings and press releases.
As set forth in more detail in our Annual Report on Form 10-K, non U.S. investors are not Eligible Holders of BreitBurn units. In addition to the other consequences of not qualifying as Eligible Holders, this press release is intended to provide a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of BreitBurn's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, BreitBurn's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
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