Profile: BreitBurn Energy Partners LP (BBEP.O)

BBEP.O on Nasdaq

7.88USD
3 Mar 2015
Change (% chg)

$0.57 (+7.80%)
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$7.31
Open
$7.53
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$7.92
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Volume
7,993,377
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$23.15
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BreitBurn Energy Partners L.P., incorporated on March 23, 2006, is an oil and gas partnership focused on the acquisition, exploitation and development of oil, Natural-gas liquids (NGL) and gas properties in the United States. The Company’s properties include oil, natural gas and midstream assets in Michigan, Indiana and Kentucky, including fields in the Antrim Shale in Michigan and the New Albany Shale in Indiana and Kentucky, transmission and gathering pipelines, two gas processing plants and four NGL recovery plants. The Company’s properties also located in Oklahoma, New Mexico and Texas, including the Postle Field, the Northeast Hardesty Unit and the Dry Trails gas plant, all of which are located in Texas County, Oklahoma. The Company’s properties also include fields in the Permian Basin in Texas, the Evanston and Green River Basins in southwestern Wyoming, the Wind River and Big Horn Basins in central Wyoming, the Powder River Basin in eastern Wyoming, the Los Angeles Basin in California, and the Belridge Field in the San Joaquin Basin in California and in Florida’s Sunniland Trend.

The Company’s assets consist 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.

Michigan

The Company has interests in 3,396 productive wells in Michigan, and operated approximately 56% of those wells. In 2013, the Company drilled four wells, re-drilled one well and completed 15 recompletions in Michigan. As of December 31, 2013, the Company’s Michigan properties were approximately 8.8 thousand barrels of oil equivalent per day (MBoe/d) or 52.8 million cubic feet of natural gas equivalent per day (MMcfe/d).

Oklahoma

The Company has interests in 242 productive wells in Oklahoma and operated approximately 98% of those wells. The Company owns 100% in a Carbon dioxide (CO2) transportation pipeline delivering product from New Mexico to the Postle Field in Oklahoma. As of December 31, 2013, the properties produced approximately 7.2 MBoe/d. In 2013, the Company drilled four new productive development wells in Oklahoma.

Texas

The Company has interests in 230 productive wells in Texas and operated approximately 92% of those wells. The Company’s Texas properties are located in the Spraberry Trend, which is located in Howard, Martin and Midland counties in Texas. As of December 31, 2013, the Company’s average production from Texas properties in the Permian Basin was approximately 3.9 MBoe/d. In 2013, the Company drilled 53 new productive development wells in Texas.

Wyoming

The Company has interests in 982 productive wells in Wyoming and operated approximately 66% of those wells. The Company’s Wyoming properties consist of oil properties in the Powder River Basin in eastern Wyoming, natural gas properties in the Evanston and Green River Basins in southwestern Wyoming and oil fields in the Wind River and Big Horn Basins in central Wyoming, including Gebo, North Sunshine, Black Mountain, Hidden Dome, Sheldon Dome, Rolff Lake in Fremont County, West Oregon Basin and Half Moon. In 2013, the Company drilled 21 new productive development wells, 19 recompletions of existing productive wells and 2 workovers in Wyoming. As of December 31, 2013, the Company’s average production from Wyoming fields was approximately 7.0 MBoe/d.

California

The Company has interests in 441 productive wells in California, and operated 100% of those wells. The Company’s California operations are located in the Los Angeles Basin, including the Santa Fe Springs, East Coyote, Sawtelle, Rosecrans and Brea Olinda fields, the Alamitos lease of the Seal Beach Field and the Recreation Park lease of the Long Beach Field. The Company also operates oil properties in the Belridge Field in the San Joaquin Basin in Kern County, California. As of December 31, 2013, the Company’s average California production was approximately 4.6 MBoe/d. In 2013, the Company drilled 34 productive wells, six recompletions and 12 workovers in California.

Florida

The Company has interests in 27 productive wells in Florida and operated 100% of those wells. In 2013, the Company drilled three productive wells in Florida. As of December 31, 2013, the Company’s average Florida production was approximately 1.8 MBoe/d.

Indiana/Kentucky

The Company has interests in 241 productive wells in Indiana and Kentucky, and operated 100% of those wells. The Company’s operations in the New Albany Shale of southern Indiana and northern Kentucky include 21 miles of pressure gas pipeline that interconnects with the Texas Gas Transmission interstate pipeline. As of December 31, 2013, the Company’s average Indiana and Kentucky production was approximately 0.6 MBoe/d or 4.7 MMcf/d.

Company Address

BreitBurn Energy Partners LP

515 S Flower St Ste 4800
LOS ANGELES   CA   90071-2241
P: +1213.2255900

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