BreitBurn Energy Partners, an independent oil and gas company, has completed the purchase of all of the natural gas, oil and midstream assets of Quicksilver Resources for $750 million in cash and approximately 21.348 million common units of BreitBurn.

With this acquisition, natural gas accounts for approximately 60% of BreitBurn’s total estimated proved reserves, up from 2% prior to the transaction. BreitBurn intends to issue 2008 guidance before year end and notes that its earlier guidance for 2007 was prepared prior to the acquisition from Quicksilver and is no longer current or applicable.

The highlights of the acquisition, after adjustments for preferential right exercises and other ordinary course land activities, include over 5,000 gross producing wells; gross and net acreage of over 900,000 and 500,000, respectively; substantial number of low risk development opportunities; immediately accretive to 2008 distributable cash flow per unit; estimated current daily production of approximately 72 million cubic feet of gas equivalents as of October 31, 2007; commodity hedges for approximately 80% of PDP production for three years beginning January 1, 2008; approximate 19-year reserve life; and integrated midstream assets.