Breitburn

SandRidge Energy Inc. and Breitburn Energy Partners LP both filed for restructuring under Chapter 11 Monday, adding to a growing list of oil and gas bankruptcies induced by the commodity price rout.

Quicksilver Resources Inc. has priced a public offering of 6,967,844 units of BreitBurn Energy Partners LP. The units are offered at $16.52 each. Closing is expected to occur on or about Dec. 5. Analysts at Tudor, Pickering, Holt & Co. said the move was expected as part of Quicksilver’s liquidity plan (see Daily GPI, Oct. 21) and a “smart move to take advantage of an open equity/capital markets window.” Underwriters have been granted a 30-day option to purchase up to 1,045,177 additional units from Quicksilver to cover over allotments.