One-Page Deal Sheet
BreitBurn Acquires two Permian Basin Properties
Breitburn Energy Partners L.P. Crownrock, Lp, Element Petroleum, Lp
Announced Date
July 02,2012
Close Date
July 02,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
220
Asset/Basin:
{"Permian Basin"}
Transaction Details: Require Private Equity Subscription
BreitBurn Energy Partners L.P announced today that it has completed two separate acquisitions of oil and natural gas properties located in the Permian Basin in Texas from Element Petroleum, LP and CrownRock, LP for approximately $150 million and $70 million, respectively, subject to customary post-closing adjustments.
The transactions were previously announced on May 10, 2012.
Hal Washburn, CEO, said, "We are pleased to announce the closing of these two excellent acquisitions which expand our portfolio to seven states and give us an attractive platform for further acquisition activity in the…
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