BreitBurn Energy Partners LP (Nasdaq: BBEP) has priced its public offering of 13 million common units at US $19.86 per unit.
The partnership has granted to the underwriters a 30-day option to purchase up to some 2 million additional common units. The offering is expected to close on Feb. 12.
The partnership expects to receive net proceeds of US $248.2 million. Net proceeds will be used to reduce borrowings under its bank credit facility.
Barclays, BofA Merrill Lynch, Citigroup, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint book-running managers.
BreitBurn Energy Partners LP is an independent oil and gas limited partnership headquartered in Los Angeles that is focused on the acquisition, exploitation, development and production of oil and gas properties.
Recommended Reading
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
Rystad: More Deepwater Wells to be Drilled in 2024
2024-02-29 - Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.