BreitBurn Energy Partners L.P. NASDAQ: BBEP Oklahoma Panhandle Assets Acquisition Conference Call June 24, 2013
Transaction Overview Key Terms Asset Highlights Assets: Interests in oil properties in Postle and 35.0 MMBoe Est. Proved Reserves (2) North East Hardesty Fields in Oklahoma Est. proved reserve life index of 13 years Panhandle…
Strategic Rationale High margin oil properties with 13 year est. proved reserve life as of 4/1/13 High Quality Current expectations for 10+ years of little to no decline in production MLP Assets Low risk development plan consisting of…
Summary of Acquired Assets Postle Field (97% WI) Transpetco CO2 Pipeline (100% Owned) 5 Units 120 Miles 26,000 Net acres 175 MMcfd capacity 35 MMcfd current Colorado throughput Kansas NE Hardesty Field New Mexico (95% WI) 1…
Field Operational Highlights Postle discovered 1958, waterflood 1967, CO2 injection 1996 5 Postle Units (97% WI) and 1 NE Hardesty Unit (95% WI) 7,400 Boe/d net production for April 2013 244 producing wells and 164 injectors Morrow…
Credit Facility Amendment BBEP has financing commitment to increase the borrowing base of its credit facility to 1.5 Billion, with financing commitments of 1.4 Billion The credit facility amendment is expected to close concurrently…
2H 2013 Public Guidance ( in 000s) 2H 2013 Guidance Total Production (Mboe): 5,950 - 6,350 Oil Production (Mbbls) 3,350 - 3,550 NGL Production (Mbbls) 300 - 340 Gas Production (MMcfe) 13,800 - 14,760 December 2013 Exit Rate…
2H 2013 Public Guidance Notes (1) Approximately 25% of oil production is expected to be sold based on Brent pricing. (2) Operating Costs include lease operating costs, processing fees, district expense, and transportation expense.…