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: BBEP) (“BBEP” or the “Partnership”) recently completed a follow-on offering of 11,500,000 common units at a price of $18.51 per unit, generating gross proceeds of approximately $212.9 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 and development of oil and gas properties. These 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 Evanston, Green River, Wind River, Big Horn and Powder River Basins in Wyoming, the Permian Basin in Texas, the Sunniland Trend in Florida and the New Albany Shale in Indiana and Kentucky.