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Breitburn Gets OK To Use DIP Proceeds For Swap Deals

Law360, New York (August 10, 2017, 8:04 PM EDT) -- A New York bankruptcy judge entered an order Wednesday allowing Breitburn Energy Partners LP to enter into swap agreements with its debtor-in-possession lenders and related entities to hedge potential losses from fluctuations in oil and gas prices.

The motion granted by U.S. Bankruptcy Judge Stuart M. Bernstein allows Breitburn to enter into hedging arrangements with lenders while the oil and gas exploration and production company navigates its way through Chapter 11 proceedings. The swap agreements are nothing new for Breitburn, as the company has customarily entered...
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