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BreitBurn Energy Partners recently reported a terrific third quarter. Oil and gas production hit a record, and is up 43% year-over-year.Leading and award-winning designer label of wedding gowns. Find the wedding dress of your dreams at a store near you.crotchless swimming costume The company's focus on high-margin oil growth has really paid off, as it represents 61% of total production.This oil-rich production is falling right to the bottom line. Last quarter the company reported that it was able to earn 30% more than it paid its investors in distributions. That said,thong bikini if there was one concern about the company, it's the fact that it has put on a lot of debt this year. The company really stretched its limits when it made a big oil deal this summer that was funded completely with debt. 

Times certainly have changed, as LINN Energy seems to have basically been cleared to continue with business as usual. That has fueled a recovery in the price of LINN Energy's units and LinnCo's shares. It is a recovery that has also affected units of BreitBurn.It was only a matter of time before BreitBurn took advantage of this recovery in its units to raise equity. In my third-quarter review, I said that one thing "investors should expect to see at some point in the future is an equity raise." That's why it comes as no surprise to see BreitBurn doing just that. 

The company announced that it would offer to sell upwards of 17 million units, which could raise over $300 million for the company. If it sells that many units the distribution coverage ratio would drop from 1.3 times to 1.13 times,school girl which is still very solid. In fact, to put that into perspective, LINN Energy's current coverage ratio is just at 1.0 times.swimsuits string bikiniAnother point of reference: BreitBurn's coverage ratio will still be higher than Vanguard Natural Resources,crotchless bikini which has a ratio of 1.09 times. Vanguard is regarded as the most conservative of the three because it doesn't invest any capital to grow organically, instead acquiring its growth.