BreitBurn Energy Partners to Buy Permian Basin Interests for $190M
BreitBurn Energy Partners L.P. (the “Partnership”) (NASDAQ: BBEP) today announced it has signed two definitive agreements to acquire oil and natural gas properties in the Permian Basin in Texas for a combined price of $190 million, subject to customary closing conditions and purchase price adjustments, from CrownRock, L.P. and Lynden USA Inc. The acquisitions will be funded with borrowings under the Partnership's existing bank credit facility and are expected to close in 2012.
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