Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

May 2012


Pacific Coast Oil Trust
Initial Public Offering
$370.0 Million


Baird served as a co-manager in this offering


Pacific Coast Oil Trust (NYSE: ROYT) (the “Trust”) recently completed an initial public offering of 18,500,000 trust units at a price of $20.00 per unit, generating gross proceeds of $370.0 million. The Trust’s sponsor, Pacific Coast Energy Company LP (“PCEC”), will receive all of the net proceeds from this offering and intends to use the net proceeds to repay borrowings outstanding under its senior secured credit agreement and second lien credit agreement, to make a distribution to the equity owners of PCEC and for general corporate purposes.

The Trust was formed in January 2012 by PCEC to own interests in certain producing and non-producing properties located onshore in the Santa Maria and Los Angeles Basins of California.

PCEC is a privately held Delaware limited partnership formed in 2004 as Breitburn Energy Company L.P. to engage in the production and development of oil and natural gas from properties located in California.

For additional information about this transaction, please contact:
Managing Director, Co-Head of Energy
(314) 445-6532
Managing Director, Co-Head of Energy
(314) 445-6540
Managing Director
(312) 609-4687
Director
(314) 445-6536

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