IPAA Oil and Gas Investment Symposium James Jackson Executive Vice President & Chief Financial Officer San Francisco, CA September 2011
Overview of BreitBurn Energy Partners L.P. Publicly-traded upstream MLP with long-lived assets and extensive hedge portfolio Focused on acquisition, exploitation and development of oil and gas properties Leverage technical expertise…
Key Operating Attributes Asset Base Mature predictable and low-risk Shallow decline long life with low maintenance capital requirements Balanced between oil and gas Substantial low risk development opportunities Upside potential in…
Nationwide Footprint Significant Operations Diversified Among Six States PARTNERSHIP TOTALS 2010 Avg. Daily Prod. 18,354 Boepd Est. Proved Reserves 118.9 MMBoe % Oil 35% % Proved Developed 91% R/P 17+ years 2010 Avg. Daily Prod.…
Growth of Our Asset Base Since our IPO in October of 2006, BreitBurn has: Expanded its operations from 2 to 6 states Diversified its commodity base by acquiring natural gas assets in addition to oil properties Increased proved…
Focus on Core Strategies Maintaining and Growing Production 2010 production increased 3% over 2009; 2011 production guidance range is 6.5 6.9 MMBoe 2011 capital spending expected to be between 70 and 74 million, with approximately 70%…
Recent Wyoming Acquisitions Green River & Evanston Basins (July 27) Wyoming Area of Operations 95% gas 230 Bcfe proved, 136 Bcfe PDP 30 MMcfe / day on average for 2012 620 producing wells in 16 fields Over 90 PUDs, 600 potential…
Commodity Price Protection Portfolio: 2011 2015 Assumes 2011 2015 production equals the midpoint of 2011 production guidance (6.7 million boe) plus contributions from recently announced Wyoming acquisitions and assumes oil comprises…
Mitigating Commodity Price Volatility Our hedge portfolio has significantly mitigated crude oil and natural gas price fluctuations as evident by our quarterly Adjusted EBITDA 160 16 62.3 61.6 60.0 59.1 140 58.2 14 56.7 56.0 50.9…
Cumulative Distributions Since IPO in 2006 Five Quarters of Consecutive Distribution Increases 7.00 6.59 6.17 6.00 5.75 5.34 4.95 5.00 4.56 4.19 4.19 4.19 4.19 4.19 4.00 3.67 3.15 3.00 2.63 2.13 2.00 1.68 1.23 1.00…
Target Acquisition Criteria BreitBurn is actively pursuing acquisition opportunities that meet the following criteria: Long-lived and mature properties with large amounts of original oil and gas in place Consistent with our current…
Investment Highlights High-quality asset base with predictable, long-lived production Experienced management, operating and technical teams Critical mass in large, mature producing basins with geographic, geologic and commodity…
IPAA Oil and Gas Investment Symposium James Jackson Executive Vice President & Chief Financial Officer San Francisco, CA September 2011
Loading...
