OTC MKTS: BBEPQ
-0.118 $1.19

Our Experience


Experience

Breitburn is led by a strong management team that has on average 30 years of experience in the energy space. Many members of our operating team have strong backgrounds with leading energy companies and top U.S. petroleum engineering and geoscience programs. As a result of their technical expertise and the use of state-of-the-art technologies, Breitburn has been able to extract significant value from our asset base over the years through effective exploitation techniques. We have a strong track record of delivering on our capital program and are proud to say that we operate the vast majority of our wells. In fact, on a net production basis, we operated approximately 69 percent of total production for 2015. We are committed to continuing our solid track record as a strong operator and hiring the best talent in the industry to join our team.

With a strong foundation of industry experience, Breitburn is also able to optimize its operations through:

  • Fit-for-purpose technologies that optimize reserve recovery and manage risk
  • Adherence to proven best practices for oil and gas companies
  • A strong culture of discipline in managing costs enterprise-wide
  • Hiring the best talent in the industry to join our team
  • Commitment to excellence in the area of environment, health and safety
  • Respect for the communities in which we operate
Experience
Over 28

years of experience
High Quality Assets
239.3
MMBoe est.
proved reserves*
2015 Average Daily Production
55,288Boe/d

* as of December 31, 2015

Experience

Breitburn’s business strategy has remained the same since the founding of its predecessor company over 25 years ago. Breitburn's business was formed in 1988 by Halbert Washburn and Randall Breitenbach, two Stanford petroleum engineers who saw an opportunity to maximize the production and value of mature oil and gas properties with technical expertise and state-of-the-art exploitation and drilling technologies. Since then, we have had a consistent goal: manage our oil and gas producing properties for the purpose of generating cash flow and making distributions to our unitholders.

Our experienced and accomplished team has become the backbone of our operations and growth. Today, Breitburn operates under the same disciplined, core investment strategy that we started with:

  • Acquire long-lived assets with low-risk exploitation and development opportunities
  • Optimize reserve recovery by using technical expertise and state-of-the-art technologies
  • Reduce cash flow volatility through commodity price and interest rate derivatives
  • Maximize asset value and distributable cash flow through our operating and technical expertise

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High Quality Assets

As a unitholder of Breitburn, you are investing in a portfolio of high quality, long-lived oil and gas properties with approximately 16 years of reserve life. These are stable, low-decline, proven assets with significant original oil and gas in place, some of which have been producing for more than 100 years. We have been able to successfully apply our exploitation expertise and technology on these assets to maximize production. For the year ended 2013, estimated proved reserves were 323.4 MMBoe*. Comprised of 58% oil, 8% NGLs, and 34% natural gas, 82% of the proved reserves are proved developed (PDP) and 18% are proved undeveloped (PUD). The PUD component of our portfolio provides us with ample low-risk organic growth opportunities at the drill-bit. We intend to grow production and reserves not only through acquisitions but from our legacy assets as well. Meanwhile, our acquisition strategy continues to add high quality assets that complement our current portfolio.

Breitburn’s properties consist primarily of producing and non-producing crude oil and natural gas reserves located primarily in:

  • Permian Basin
  • Michigan/Indiana/Kentucky
  • Ark-La-Tex (Arkansas, Louisiana, Texas)
  • Mid-Continent
  • Rockies
  • Florida
  • California

*Reflects Breitburn Energy Partners and QR Energy, LP combined asset base as of December 31, 2013


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Consistent Monthly Distributions

A monthly distribution MLP, BreitBurn is committed to delivering consistent distributions for our unitholders. Our ability to provide stable distributions is supported by our strong base of assets, organic growth opportunities, strong hedging strategy, and accretive acquisitions. Distributions have increased consistently since the first quarter of 2010.

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Conservative capital structure and financial flexibility

Our financing philosophy is to maintain a solid liquidity profile and low leverage ratios over time. We fund acquisitions with financing strategies designed to ensure liquidity while optimizing long-term cost of capital.