BreitBurn Energy Partners LP (Nasdaq: BBEP) has priced its public offering of 13 million common units at US $19.86 per unit.
The partnership has granted to the underwriters a 30-day option to purchase up to some 2 million additional common units. The offering is expected to close on Feb. 12.
The partnership expects to receive net proceeds of US $248.2 million. Net proceeds will be used to reduce borrowings under its bank credit facility.
Barclays, BofA Merrill Lynch, Citigroup, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint book-running managers.
BreitBurn Energy Partners LP is an independent oil and gas limited partnership headquartered in Los Angeles that is focused on the acquisition, exploitation, development and production of oil and gas properties.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
The One Where EOG’s Stock Tanked
2024-02-23 - A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.