Scandoil  

BreitBurn Energy Partners announces acquisition of additional Permian Basin interests


Published Dec 17, 2013
BreitBurn Energy Partners L.P.

BreitBurn Energy Partners L.P. has signed a definitive agreement to acquire additional oil and natural gas properties in the Permian Basin in Texas for approximately $282 million, subject to customary closing conditions and purchase price adjustments, from CrownRock, L.P.

The acquisition will be funded with borrowings under the Partnership's existing bank credit facility and is expected to close in 2013. The Partnership intends to immediately enter into at-the-money commodity hedges to provide price protection for a substantial portion of the proved production for five years.

Hal Washburn, BreitBurn's CEO said, 'We are very pleased to announce this opportunistic, bolt-on acquisition that further increases our exposure to oil via the addition of high quality, familiar assets with significant recoverable oil in place.

Tags: BreitBurn Energy Partners L.P.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml