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Slideshow Mega-Mergers: Largest Recent M&A Transactions

By The Online Investor Staff, updated Thu., Jul. 24, 1:04 PM

Slide #1. Breitburn Energy Partners LP QR Energy, LP

Acquirer: Breitburn Energy Partners LP (BBEP)
Acquiree: QR Energy, LP (QRE)
Details: Breitburn Energy Partners LP and QR Energy, LP announced the signing of a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange implying a transaction value of approximately $3.0 billion, including QR Energy's existing net debt and outstanding Class C Convertible Preferred Units. As a result of the merger, Breitburn will become the largest, oil-weighted upstream oil and gas master limited partnership with a pro forma enterprise value of approximately $7.8 billion and current average daily production of approximately 57,300 boe/d, 67% liquids, based on second quarter results. The combination enhances Breitburn's ability to generate greater cash flow and creates significant incremental near-term and long-term value for unitholders. The transaction is expected to be accretive to distributable cash flow per unit, and upon closing of the transaction, Breitburn has agreed to recommend to its Board a distribution increase to $2.08 per unit on an annualized basis.

BreitBurn Energy Partners is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties. Co.'s assets are located in: the Antrim Shale and several non-Antrim formations in Michigan; the Evanston, Green River, Wind River, Big Horn and Powder River Basins in Wyoming; the Los Angeles and San Joaquin Basins in California; the Permian Basin in Texas; the Sunniland Trend in Florida; and the New Albany Shale in Indiana and Kentucky. As of Dec 31 2012, Co.'s total estimated proved reserves were 149.4 million barrels of oil equivalent, of which approximately 53% was crude oil and 47% was natural gas.

Preferred: BBEPP



Open the BBEP Page at The Online Investor »

BreitBurn Energy Partners is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties. Co.'s assets are located in: the Antrim Shale and several non-Antrim formations in Michigan; the Evanston, Green River, Wind River, Big Horn and Powder River Basins in Wyoming; the Los Angeles and San Joaquin Basins in California; the Permian Basin in Texas; the Sunniland Trend in Florida; and the New Albany Shale in Indiana and Kentucky. As of Dec 31 2012, Co.'s total estimated proved reserves were 149.4 million barrels of oil equivalent, of which approximately 53% was crude oil and 47% was natural gas.

Preferred: BBEPP



Open the QRE Page at The Online Investor »

Company Name:  BreitBurn Energy Partners LP
Website:  www.breitburn.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding BBEP:  3
Total Market Value Held by ETFs:  $11.15M
Total Market Capitalization:  $2.73B
% of Market Cap. Held by ETFs:  0.41%
Company Name:  QR Energy LP
Website:  www.qrenergylp.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding QRE:  3
Total Market Value Held by ETFs:  $14.19M
Total Market Capitalization:  $1.10B
% of Market Cap. Held by ETFs:  1.29%
 

July 24, 2014    1:04 PM Eastern
Quotes delayed 20 minutes


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