BreitBurn Energy Partners L.P. (NASDAQ:BBEP) shares increase by 12.05%


Dallas, Texas 07/03/2013 (Financialstrend) – Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) closed at $16.20 on Tuesday, recording a gain of 12.05 percent. The share price ranged between $18.43 and $16.19 during the day, with a 52-week high of $21.75 and a 52-week low of $16.19 per share.

BreitBurn Energy Partners L.P. (NASDAQ:BBEP) is involved in the development, exploitation and acquisition of oil gas. It operates as an independent company in the United States. The numerous non-Antrim formations that comprise the assets of the company are the following: natural gas and crude oil reserves located in the Antrim Shale, Evanston, Green River, Big Horn and Powder River Basins located in Wyoming; San Joaquin and Los Angeles Basins located in California; Sunniland Trend and the New Albany Shale located in Indiana and Kentucky. The company completed its acquisition of oil and natural gas properties from American Energy Operations, Inc. located in the Belridge Field, California in November 2012. Finally, the company also acquired oil and natural gas properties located in the Wol$fberry Trend from CrownRock, L.P. and from Lynden USA Inc. in December 2012.

BreitBurn Energy Partners L.P. (NASDAQ:BBEP) announced that it signed an agreement with Whiting Oil and Gas Corporation to acquire the Postle and North East Hardesty oil fields located in the Oklahoma Panhandle for $860 million. BreitBurn Energy Partners L.P. (NASDAQ:BBEP) traded at very high volumes of 3.87 million shares on Tuesday, whereas the average volume stood at 522,009 shares per day. BreitBurn Energy Partners L.P. (NASDAQ:BBEP) currently has 99.68 million shares outstanding in the market with a market cap of $1.61 billion and an institutional ownership of 22 percent of the total share capital.