2011-06-21-2011-06-15

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
$58.1MM
Description

To buy properties in Niobrara County, WY, gaining 500 BOE/d.

The MLP BreitBurn Energy Partners LP, Los Angeles, Calif., (Nasdaq: BBEP) plans to acquire oil properties in Niobrara County, Wyoming, from an undisclosed seller for $58.1 million. The acquisition is BreitBurn's first since June 2008.

The properties currently produce approximately 500 barrels of oil equivalent per day (100% oil).

BreitBurn president Randy Breitenbach says, "By adding these assets, we are increasing our presence in Wyoming, which allows us to leverage our existing regional management team in an area where we see additional consolidation opportunities. We are purchasing these properties for an attractive valuation, and we believe that this acquisition will be immediately accretive to distributable cash flow per unit."