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Breitburn Energy Partners, lenders delay redetermination 1 month

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Breitburn Energy Partners, lenders delay redetermination 1 month

BreitburnEnergy Partners LP in a Form 8-K filed April 1 said that it reacheda deal to delay its scheduled borrowing base redetermination and to reduce theelected commitment amount under its credit agreement.

The amendment, effective March 28, moves the redeterminationfrom April 1 to May 1 and reduces the elected commitment amount from $1.8billion to $1.4 billion, according to the partnership.

Industry analysts have said they expect during the spring bankredetermination season for oil and gas producers.

Wells Fargo Bank NA acted as administrative agent for thelenders, according to the filing.