On Friday, BreitBurn Energy Partners L.P. (NASDAQ:BBEP)’s shares declined -1.56% to $3.04.
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.
KKR & Co. L.P. (NYSE:KKR)’s shares dropped -1.08% to $23.00.
JBF Industries Ltd. (“JBF”), a leading manufacturer of polyester value-chain products, has signed a definitive agreement with global investment firm KKR under which KKR will invest US$150 million into JBF Group, an entity that comprises JBF’s international auxiliaries.
A portion of the proceeds will be used by KKR to acquire a 20% stake in JBF, listed on the BSE Ltd. and National Stock Exchange of India. The remaining proceeds will be invested into zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Pte. Limited, Singapore, an unlisted partner. KKR will primarily make its investment from the KKR Special Situations Fund II.
JBF Group manufactures polyester value-chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries. JBF Group is one of the leading global players in the polyester segment, with six manufacturing facilities across India, Bahrain, Belgium and the United Arab Emirates.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments. The firm considers investments in all industries with a focus on technology and hardware, energy and infrastructure, real estate, services industry with a focus on business services, intelligence, industry-leading franchises and companies in natural resource, containers and packaging, agriculture, airports, ports, forestry, electric utilities, textiles, apparel and luxury goods, household durables, digital media, insurance, brokerage houses, non-durable goods distribution, supermarket retailing, grocery stores, food, beverage, and tobacco, hospitals, entertainment venues and production companies, publishing, printing services, capital goods, financial services, specialized finance, pipelines, and renewable energy.
At the end of Friday’s trade, News Corp (NASDAQ:NWSA)‘s shares surged 0.64% to $14.11.
HarperCollins Publishers, a partner of News Corp (NWSA) and joint venture partner Ediouro Group recently declared the formation of HarperCollins Brasil, which combines the existing operations of Thomas Nelson Brasil and Harlequin Brasil with Ediouro’s commercial trade publishing titles and personnel.
HarperCollins Brasil will publish a select list of about 350 titles per year from the HarperCollins trade, children’s, Christian and romance imprints from around the world, in addition to a focused list of Brazilian authors. The new structure aligns Brazil with the HarperCollins strategy to build on existing infrastructures and relationships to grow its authors’ international presence and publish outside of the English language, as has been done in Germany, Poland, Nordic, Holland, Japan and Spain.
News Corporation, a media and information services company, focuses on creating and distributing authoritative and engaging content to consumers and businesses worldwide. The company operates through News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Digital Education segments. The News and Information Services segment offers print and digital products, counting The Wall Street Journal, Barrons, and other publications; and Marketwatch.com, in addition to a suite of professional information products, counting Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Dow Jones Private Markets, and DJX. This segment also provides free-standing inserts, in-store marketing products and services, and digital marketing solutions to consumer packaged goods advertisers in the United States and Canada.
Bitauto Hldg Ltd (ADR) (NYSE:BITA), ended its Friday’s trading session with -18.01% loss, and closed at $30.64.
Bitauto Holdings Limited (BITA), a leading provider of internet content and marketing services for China’s fast-growing automotive industry, recently declared its unaudited financial results for the second quarter 2015 ended June 30, 2015[1].
Second Quarter 2015 Highlights
- Revenuein the second quarter of 2015 was RMB1.01 billion (US$162.2 million), a 92.5% enhance from the corresponding period in 2014.
- Gross profitin the second quarter of 2015 was RMB682.1 million (US$110.0 million), a 62.7% enhance from the corresponding period in 2014.
- Non-GAAP profitin the second quarter of 2015 was RMB122.6 million (US$19.8 million), contrast to a non-GAAP profit of RMB124.2 million (US$20.0 million) in the corresponding period in 2014.
Bitauto Holdings Limited provides Internet content and marketing services for the automotive industry in the People’s Republic of China. The company operates in four segments: bitauto.com Advertising Business, EP Platform Business, taoche.com Business, and Digital Marketing Solutions Business. The bitauto.com Advertising Business segment provides advertising services, counting new automobile pricing and promotional information, specifications, reviews, and consumer feedback to dealers and automakers on its bitauto.com Website.
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