One-Page Deal Sheet
BreitBurn Energy Acquires Interests in California Oil Fields
Breitburn Energy Partners L.P. Not Disclosed
Announced Date
May 25,2007
Close Date
May 25,2007
Transaction Type
Property
Enterprise Value (EV)($MM)
82
Location
Calculated Metrics( EV/Category)
Country
United States
State
California
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
BreitBurn Energy Partners announced today that it has acquired the majority interest in an institutional partnership that owns two significant, high quality oil properties in the Los Angeles Basin in California for approximately $82 million.
In addition, as part of the transaction, BreitBurn immediately broke unfavorable hedges associated with the properties at a cost of approximately $10 million. New derivative contracts have been put into place with respect to the properties.
This institutional partnership is managed by BreitBurn Energy Company L.P., an affiliate of BreitBurn's General…
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