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BreitBurn Energy Adds Permian Basin Properties

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December 13, 2013

BreitBurn Energy Partners LP (Nasdaq: BBEP) announced Dec. 13 it has signed a definitive agreement to acquire additional oil and natural gas properties in the Permian Basin in Texas for $282 million from CrownRock LP.

The assets include estimated production of 2,900 barrels of oil equivalent per day (BOE/d), with 60% oil.

This is the Los Angeles-based company's third acquisition from CrownRock, further augmenting its Permian Basin oil production base and development opportunities. In a December presentation, BBEP said its Permian holdings consisted of 8,791 net acres with 315 MBOE ...

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