Breitburn Energy Partners L.P. (BBEP).Business Overview BreitBurn Energy Partners L.P. (BreitBum Partners) is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties. Its assets consist primarily of producing and non-producing crude oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally located in the Los Angeles basin The Los Angeles Basin is the coastal sediment-filled plain located between the peninsular and transverse ranges in southern California in the United States containing the central part of the city of Los Angeles as well as its southern and southeastern suburbs (both in Los Angeles in California and the Wind River and Big Horn Big Horn is a tall peak in the Cascade Range in Washington, USA. At 2438+ meters (8,000 feet) in elevation, it is the highest point in Lewis County, Washington.[1] Big Horn, one of the Goat Rocks, is the second highest point on the ridge west of Mt. basins in central Wyoming. The company is an approximately 96% owned indirect subsidiary of Provident prov·i·dent adj. 1. Providing for future needs or events. 2. Frugal; economical. [Middle English, from Latin pr Energy Trust (Provident), a Canadian energy trust. As of Dec. 31, 2005, the total estimated proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. of the company's properties were 29.7 million barrels of oil equivalent (MMBoe), of which approximately 98% were oil and 91% were classified as proved developed reserves. Of these total estimated proved reserves, 57%, are located in California and 43%, are located in Wyoming. Income Statement LTM * 2005 ** Revenue (millions) $38.3 $114.4 Operating Income (millions) 18.6 53.5 Net Income (millions 34.4 39.0 EPS $0.19 N/A Summary Headquarters: Los Angeles Market Cap: $462 million Dividend Yield: N/A P/E Ratio: N/A * Latest Twelve Months Ending 9/2006 ** Fiscal Year Ending 12/2005 Note: Initial Public Offering on October 4, 2006 |
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