Two Leading Energy Partnerships Slash Dividends

Two of the nation’s largest energy producing partnerships cut their distributions on Jan. 2.
Two Leading Energy Partnerships Slash Dividends
Linn Energy LLC relief driller Jim Williams loads drill rods onto a drill rig in Indiana, Pa. in 2006. Andrew Rush/AP
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It finally happened. Two of the nation’s largest energy producing partnerships cut their distributions.

Linn Energy LLC and Breitburn Energy Partners LP, two of the biggest master limited partnerships (MLPs) by revenue, announced dividend decreases on Jan. 2 as months of depressed crude oil prices finally took their toll. Their high distribution yields became untenable in the face of weakened revenues. It had been what investors feared, and expected, for weeks.

Linn's shares have crumbled 60 percent over the last three months.