Breitburn Energy Partners LP fka BBEPQ

[floatingt]

Educated guesses are still good.

Certainly a complete sale would be the quickest way to get this resolved. It's great that the EC was approved but at the same time, the EC has to have a specific agenda whose objectives will either more closely align with management or with the UC. A third side to the bargaining will not bring a timely conclusion.

Management's objectives seem to be a little unclear at this point as there's some conflicting behaviors. If they really wanted to reorg then where is their POR? Why haven't they even responded to the UC about Midland? All the executives got their fat performance bonuses so their self-interests have been served. Unless, they know something about the value of developing the Midland property that will make them even more wealthy.

A complete sale would seem to most align the objectives of the EC and UC. The UC's interest in recoverable value from a sale would only go as far to get back their money. They would probably take the lowest bid that fulfilled that aspect. The EC would obviously push for the highest bid possible and therein might be a cause of tension between the EC and UC.