BreitBurn Energy Partners LP is a Delaware limited partnership formed on March 23, 2006. Its initial public offering was in October 2006. The Company is engaged in the acquisition, exploitation and development of oil, NGL and gas properties in the United States. The Company conducts its operations through a wholly-owned subsidiary, BreitBurn Operating L.P., (BOLP) and BOLP's general partner BreitBurn Operating GP, LLC (BOGP). It owns all of the ownership interests in BOLP and BOGP. The Company's assets consist mainly of producing and non-producing oil, NGL and natural gas reserves located in: the Antrim Shale and several non-Antrim formations in Michigan; the Oklahoma Panhandle; the Permian Basin in Texas; the Evanston, Green River, Wind River, Big Horn and Powder River Basins in Wyoming; the Los Angeles and San Joaquin Basins in California; the Sunniland Trend in Florida; and the New Albany Shale in Indiana and Kentucky. It sells oil, NGLs and natural gas mainly to established domestic refiners and utilities. The Company competes with other independent operators and from oil companies in all aspects of its business, including acquiring properties and oil and gas leases, marketing oil and gas, contracting for drilling rigs and other equipment necessary for drilling and completing wells and securing trained personnel. Its operations are subject to stringent and complex federal, state and local laws and regulations.