Richard Zeits • 123 Comments
Richard Zeits • 23 Comments
Jul. 24, 2014, 7:27 AM
- Breitburn Energy Partners (NASDAQ:BBEP) agrees to acquire QR Energy (NYSE:QRE) in a unit-for-unit exchange implying a transaction value of ~$3B.
- QR unitholders will receive ~72M common units of BBEP, or 0.9856 of a unit, for each unit of QR Energy they own; the consideration to be received by QR unitholders is valued at $22.48/unit, a 19% premium to yesterday's closing price.
- BBEP's senior management team will lead the combined company; once the deal closes, BBEP will add a new director to its board that is mutually agreed upon by both companies.
- QRE +8.8%, BBEP -3.1% premarket.
Jun. 24, 2013, 9:06 AM
BreitBurn Energy Partners (BBEP) agrees to acquire Whiting Petroleum's (WLL) interests in the Postle and North East Hardesty oilfields, along with associated midstream assets, in the Oklahoma panhandle for ~$860M. The acquired properties add ~7,400 boe/day (87% oil, 11% nat gas liquids) net production as of April 2013. BBEP +2.4%, WLL +0.3% premarket.| Jun. 24, 2013, 9:06 AM
Dec. 11, 2012, 5:36 PM
BreitBurn Energy Partners (BBEP) agrees to acquire two oil and natural gas properties in the Permian Basin in Texas for a combined $190M. Estimated average daily net production of the two properties was ~1,850 boe/day for November (65% oil).| Dec. 11, 2012, 5:36 PM
Nov. 23, 2012, 9:53 AM
Breitburn Energy (BBEP +0.9%) agrees to acquire oil properties in California's Belridge Field for ~$40M in cash and ~3M common units representing limited partner interests. Estimated average daily net production is 825 boe/day. The acquisition is expected to be immediately accretive to distributable cash flow upon closing.| Nov. 23, 2012, 9:53 AM