Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
BreitBurn Energy Partners L.P.
Baird served as a co-manager in this offering
BreitBurn Energy Partners L.P. (NASDAQ-GS: BBEP) (“BBEP” or the “Partnership”) recently completed a follow-on offering of 9,200,000 common units at a price of $18.80 per unit, generating gross proceeds of approximately $173.0 million. The Partnership intends to use the net proceeds from this offering to repay outstanding debt under its bank credit facility.
BBEP is a publicly traded independent oil and gas limited partnership focused on the acquisition, exploitation, development and production of oil and gas properties. BBEP’s producing and non-producing crude oil and natural gas reserves are located primarily in the Antrim Shale in Michigan, the Los Angeles Basin in California, the Wind River and Big Horn Basins in central Wyoming, the Powder River Basin in eastern Wyoming, the Evanston and Green River Basins in southwestern Wyoming, the Sunniland Trend in Florida and the New Albany Shale in Indiana and Kentucky.