Talisman lost more than half of its value this year and was propped up by Repsol’s huge offer.
Complementary acreage positions create an upstream industry leader in East Texas.
Combined, the companies would have a presence in more than 50 companies with 7,000 employees.
Company’s stock has fallen 22% since it announced the Baker Hughes merger.
If the deal is terminated, C&J could owe Nabors Industries $17-$65 million in fees.
The acquisition is expected to close in December.
The closing of each merger is expected to occur on Nov. 26.
The merger is expected to make Breitburn the largest oil-weighted upstream oil and gas MLP.
Breitburn said it expects the transaction to close in the coming days.
Expect a ‘long drawn-out process’ with closing not likely until second half of 2015 or after, analyst says.
A revised agreement boosts the per-unit value to holders of Access Midstream Partners LP by about $1.02, the companies said in a joint statement Oct. 26.
Combined, the company would own enough miles of pipeline to crisscross the U.S. about 25 times.