Seeking Alpha

Investors turn an initial thumbs-down to BreitBurn Energy Partners' (BBEP -2.8%) purchase of...

Investors turn an initial thumbs-down to BreitBurn Energy Partners' (BBEP -2.8%) purchase of $860M of assets in Oklahoma from Whiting Petroleum (WLL -1.2%) to be funded with debt. Oil from the fields will sell for $8/bbl less than benchmark WTI, and lifting costs will run at $18/bbl. BBEP says the deal will increase cash available to pay unitholders and support its target to boost the payout by 5%/year.
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