BreitBurn Energy Partners will acquire oil properties in Wyoming, US from Legacy Energy, a subsidiary of NiMin Energy Corporation for $98m.
The oil properties covering 3,200 acres are located in Park County in the Big Horn Basin and produced about 600 barrels of oil equivalent per day (boe/d) in March 2012 and are estimated to hold about 5.9 million barrels of oil equivalent.
The transaction is expected to close within three months after the approval by NiMin shareholders.
BreitBurn president Randy Breitenbach said the Big Horn Basin of Wyoming has significant oil producing assets.
"These fields adjoin our existing Big Horn operations, produce 100% oil, have long-lived reserves and significant original oil in place," added Randy.
BreitBurn expects the deal to immediately add to its distributable cash flow.
The assets sold to BreitBurn have nearly 45 existing well locations with numerous infill drilling locations identified where drilling will begin by the end of this year.