The company estimates that these assets currently produce approximately 500 Boe/day (100% oil).
The acquisition which the company expects to close in the third quarter of 2011 is subject to customary closing conditions and purchase price adjustments as on 1 July 2011.
BreitBurn’s president Randy Breitenbach said the company is pleased with the acquisition which will increase its presence in Wyoming.
The properties are being purchased for an attractive valuation, and believe that this acquisition will be immediately accreted to distributable cash flow per unit, Breitenbach added.
