BreitBurn Energy Partners LP on Monday said its first-quarter profit rose 25 percent, exceeding Wall Street expectations, as the oil and natural gas producer was helped by higher oil prices.

The Los Angeles company reported net income of $57.9 million ($1.02 a unit), compared with $46.4 million (84 cents) a year earlier. Revenue rose 4 percent to more than $133 million, boosted by gains in derivative investments, with oil and gas sales up 40 percent to $80.5 million.

Analysts surveyed by Thomson Reuters on averaged expected the company to report per-unit earnings of 29 cents on revenues of $94.2 million.

Average realized prices climbed 17 percent for oil and natural gas liquids, but were down 4 percent for natural gas.

“Over the last four months, we took advantage of improved crude oil prices and enhanced our hedge portfolio with new oil hedges at attractive prices, which will support our cash flows going forward,” said Chief Executive Hal Washburn in a statement.

The company’s unit price was up 63 cents, or 4.6 percent, to $14.61 in midday trading on the Nasdaq.