BreitBurn Energy Partners to Enter the Permian Basin with Acquisitions of Oil and Gas Properties in the Wolfberry Trend Totaling Approximately $220M

BreitBurn Energy Partners L.P. BBEP today announced it has signed two separate agreements to acquire oil and natural gas properties located in the Permian Basin in Texas for a combined price of approximately $220 million, subject to customary closing conditions and purchase price adjustments. The acquisitions will be funded with borrowings under the Partnership's existing bank credit facility and are expected to close within 60 days.