Breitburn Energy Partners to acquire QR Energy (Scandinavian Oil-Gas Magazine)

Breitburn Energy Partners to acquire QR Energy

Published Jul 28, 2014

Breitburn Energy Partners LP and QR Energy, LP has signed a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange implying a transaction value of approximately $3.0 billion, including QR Energy's existing net debt and outstanding Class C Convertible Preferred Units.

As a result of the merger, Breitburn will become the largest, oil-weighted upstream oil and gas master limited partnership with a pro forma enterprise value of approximately $7.8 billion and current average daily production of approximately 57,300 boe/d, 67% liquids, based on second quarter results.

Tags: BreitBurn Energy Partners L.P.

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