BreitBurn Completes Acquisition of Principally Oil Properties in Kern County, CA for $40M Cash Plus Stock
BreitBurn Energy Partners (NASDAQ: BBEP)
announced today that it has completed the acquisition of principally oil
properties located in the Belridge Field in Kern County, California for
approximately $40 million in cash and 3,013,561 common units
representing limited partner interests in the Partnership from American
Energy Operations, Inc., subject to customary post-closing adjustments.
The acquisition was originally announced on November 23, 2012.
Hal Washburn, CEO, said, "We are pleased to have successfully completed
another excellent acquisition of high quality assets that complement our
existing portfolio and enhance our exposure to oil. We have a long
operating history in California and look forward to leveraging our
expertise in the area to enhance the