Breitburn Energy Partners files for bankruptcy protection

May 16, 2016 4:53 AM

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Breitburn Energy Partners LP and some of its units filed for restructuring under Chapter 11 of the U.S. bankruptcy code on Monday, the latest company to face the brunt of low commodity prices.

The oil and gas master limited partnership said it secured a $75 million debtor-in-possession financing, in addition to cash from its operations and cash on hand, to fund its operations during the bankruptcy process.

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