On Thursday, BreitBurn Energy Partners L.P. (NASDAQ:BBEP)’s shares declined -4.24% to $2.26.
Breitburn Energy Partners LP (BBEP) declared financial and operating results for the second quarter 2015 and offered second half 2015 guidance.
Key Highlights
- Closed the $1 billion planned investment led by EIG Global Energy Partners on April 8th, resulting in about $500 million of current accessible liquidity.
- Stated total production of 5.0 MMBoe, in-line with Breitburn’s 2015 guidance.
- Raised Adjusted EBITDA, a non-GAAP financial measure, to $162.9 million (counting costs of $1.1 million for restructuring), a 48% enhance from the second quarter of 2014 and a 10% enhance from the first quarter of 2015.
- Reduced lease operating expenses to $18.72 per Boe in the second quarter of 2015, 6% lower than the first quarter of 2015 and 14% lower than the fourth quarter of 2014.
- Stated distributable cash flow of $58.5 million, or $0.27 per common unit, and distribution coverage ratio of 2.16x based on current monthly distribution of $0.04166 per common unit, or $0.50 per common unit on an annualized basis.
Breitburn Energy Partners LP, an independent oil and gas partnership, acquires, exploits, and develops oil, natural gas liquids (NGLs), and natural gas properties in the United States. The company’s oil, NGL, and natural gas reserves are primarily located in seven producing areas comprising the Arkansas, Louisiana, and East Texas; Michigan, Indiana, and Kentucky; Permian Basin in Texas and New Mexico; the Mid-Continent covering Oklahoma, Kansas, and the Texas Panhandle; Rockies in Wyoming; Florida and Alabama; and California.
Expeditors International of Washington (NASDAQ:EXPD)’s shares dropped -0.58% to $49.50.
Expeditors International of Washington (EXPD) uncovered that it will hold an Investor Day on Wednesday, September 2, 2015 at the Company’s Global Headquarters in Seattle, Washington. The meeting will commence at 9:00 am to 12:00 pm (PDT) and will include presentations from the Company’s Chief Executive Officer, Chief Financial Officer and other senior executives. As space is limited, the presentations will be simultaneously webcast. For additional information and registration please contact [email protected].
Expeditors International of Washington, Inc. provides logistics services. The company’s services comprise air and ocean freight consolidation and forwarding, customs clearance, warehousing and distribution, purchase order administration, vendor consolidation, time-definite transportation services, cargo insurance, and other logistics solutions. It acts as a freight consolidator or as an agent for the airline, which carries the shipment.
At the end of Thursday’s trade, NiSource Inc. (NYSE:NI)‘s shares dipped -1.52% to $17.54.
Columbia Gas of Ohio, headquartered in Columbus, is one of the seven energy-distribution companies of NiSource Inc. (NI). Columbia Gas of Ohio has unleashed its new safety mascot, Digger Dog®.
Digger Dog®, a friendly beagle with a wagging tail, huge smile and a yellow safety vest, educates the public about the importance of calling 811 before digging, in addition to what to do if you smell natural gas.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. The company offers natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and provides wholesale and transmission transaction services.
Berry Plastics Group Inc (NYSE:BERY), ended its Thursday’s trading session with -2.33% loss, and closed at $31.89.
Berry Plastics Group, Inc. (BERY) stated results for its third fiscal 2015 quarter, referred to in the following as the June 2015 quarter:
- Raised cash flow from operations by 50 percent to $180 million in the June 2015 quarter contrast to $120 million in the same preceding year quarter.
- Recorded net loss per diluted share of $0.11 and adjusted net income per diluted share of $0.51 for the June 2015 quarter.
- Raised operating EBITDA to $219 million (17.6 percent margin) for the June 2015 quarter contrast to $212 million (16.3 percent margin) in the same preceding year quarter.
- Improved adjusted free cash flow by $74 million to $140 million for the June 2015 quarter contrast to $66 million in the same preceding year quarter.
- Generated adjusted free cash flow of $378 million and adjusted EBITDA of $830 million for the four quarters ended June 2015.
- Raised fiscal 2015 adjusted free cash flow guidance to $400 million.
Berry Plastics Group, Inc. manufactures and distributes plastic consumer packaging and engineered materials in North America and internationally. The company operates through four segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging.
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