The South Belridge Oil Field is a large oil field located in the northwestern Kern County about 64.3km west of Bakersfield and was reported to have a cumulative production of over 1.5 billion barrels of oil at the end of 2008.
The deal was closed for a payment of about $40m.
BreitBurn Energy Partners CEO Hal Washburn said the company has acquired assets to complement its current portfolio.
"We have a long operating history in California and look forward to leveraging our expertise in the area to enhance the value of these assets," Washburn added.
"This transaction marks our fourth completed acquisition in 2012 and brings the total value of our acquisitions to just over $400 million for the year."
