The Permian Basin is Breitburn’s largest producing area by estimated proved reserves. The Permian Basin is a proven and stable investment opportunity, offering around a dozen producing oil and gas formations. Breitburn first entered the Permian in 2012 through two strategic acquisitions, with just over 200 productive wells and 18,000 gross acres. Today, Breitburn has grown its position to 3,186 wells across 124,988 gross acres.
Recent History in the Permian Basin
- In 2015, Breiburn completed asset trades to secure additional contiguous acreage in Midland Basin.
- In November 2014, Breitburn acquired QR Energy, LP, which included oil and gas properties in the Permian Basin.
- In December 2013, Breitburn acquired additional oil and natural gas properties located in the Permian Basin from Crownrock, L.P. and other sellers.
- In December 2012, Breitburn acquired additional oil and natural gas properties in the Permian Basin from CrownRock, Lynden and Piedra.
- In July 2012, Breitburn acquired oil and natural gas properties in the Permian Basin from Element L.P. and CrownRock.
- Estimated proved reserves of 46.2 MMBoe represented 22% of Breitburn's total estimated proved reserves
- Average daily was approximately 10.6 MBoe/d
- Commodity mix: 65% oil, 18% NGLs, 17% natural gas
- Year-end reserve mix: 44% PD, 56% PUD