Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
BreitBurn Energy Partners L.P. (“BreitBurn Energy” or the “Partnership”) (NASDAQ: BBEP) recently completed a follow-on offering of 14,000,000 common units at a price of $18.64 per unit, generating gross proceeds of approximately $261 million. The Partnership intends to use the net proceeds from the offering to reduce outstanding borrowings under its bank facility.Breitburn Energy is a publicly traded independent oil and gas master limited partnership focused on the acquisition, development and production of oil and gas properties throughout the United States. BreitBurn Energy’s producing and non-producing crude oil and natural gas reserves are located in Michigan, Oklahoma, Texas, Wyoming, California, Florida, Indiana and Kentucky. The Partnership is headquartered in Los Angeles, California.
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- Date
- October 2014
- Company
- BreitBurn Energy Partners L.P.
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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