NASDAQ: BBEP BREITBURN ENERGY PARTNERS LP & QR ENERGY LP 7.8 BILLION MERGER FORMING THE LARGEST OIL-WEIGHTED UPSTREAM MLP JULY 24, 2014
FORWARD LOOKING STATEMENTS ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND WHERE TO FIND IT In connection with the proposed transactions, Breitburn intends to file with the SEC a registration statement on Form S-4 that will…
FORWARD LOOKING STATEMENTS PARTICIPANTS IN THE SOLICITATION Breitburn and QR Energy and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation…
TRANSACTION OVERVIEW 0.9856 of a BBEP unit for each unit of QRE (includes Common and Class B Units) CONSIDERATION Subject to maximum of approximately 72mm total BBEP units issued QRE Class C Convertible Preferred units redeemed for…
STRATEGIC RATIONALE Complementary asset profiles EXCELLENT Predominantly operated, high working interest properties STRATEGIC FIT Similar engineering-centric operating focus High margin oil-weighted properties (67% liquids)(1)…
TRANSACTION IS ATTRACTIVE TO BOTH PARTIES Benefits to Breitburn Benefits to QR Energy FURTHER DIVERSIFIED ASSET BASE WITH LOW DECLINE, ACCESS TO NEW REGIONS OIL WEIGHTED PROPERTIES New asset base will be more geographically diverse…
COMBINATION OF GROWING BUSINESSES Distribution per Unit(1) ( / unit) 3.89 3.95 4.00 3.79 3.44 3.00 1.94 2.00 1.85 1.73 2.00 1.00 1.94 1.95 1.95 1.71 0.00 2011 2012 2013 2014E QR Energy Breitburn Estimated Proved…
SIGNIFICANTLY ENHANCES SCALE VS. PEERS COMBINED SCALE SOLIDIFIES BREITBURNS POSITION IN A SECTOR WHERE SCALE MATTERS 22.0 Enterprise Value(1) (BN) 10.0 9.0 7.8 8.0 7.0 6.0 4.8 5.0 4.2 4.0 3.0 2.9 2.8 2.8 3.0 2.5 2.1 2.0…
COMPLEMENTARY ASSETS IN ATTRACTIVE PRODUCING AREAS BBEP Properties(1) Wyoming Indiana/Kentucky Michigan Florida QRE Properties(1) 2013 Avg. Daily Production 7,014 Boe/d 2013 Avg. Daily Production 591 Boe/d 2013 Avg. Daily Production…
ENHANCED DIVERSIFICATION WITH OPTIMIZATION OPPORTUNITIES AVERAGE DAILY PRODUCTION(1) Breitburn QR Energy Combined Florida, 5.4% Michigan, 0.5% Mid-Continent, 7.7% Ark-La-Tex, 13.1% Texas, 11.5% Michigan, 17.1% Michigan, 25.9%…
LARGEST OIL-WEIGHTED UPSTREAM MLP RESERVE MIX(1) Breitburn QR Energy Combined Gas, 34% Gas, 40% Gas, 23% Oil, 53% NGL, 10% Oil, 58% Oil, 67% NGL, 7% NGL, 8% Source: Company investor presentations (1) Based on BBEP…
NASDAQ: BBEP BREITBURN ENERGY PARTNERS LP & QR ENERGY LP 7.8 BILLION MERGER FORMING THE LARGEST OIL-WEIGHTED UPSTREAM MLP JULY 24, 2014
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