BreitBurn Energy Partners LP agreed to acquire Oklahoma Panhandle assets for $860 million from Whiting Oil and Gas Corp., a unit of Whiting Petroleum Corp.
BreitBurn plans to acquire Whiting’s interests in the Postle and North East Hardesty oil fields, along with associated midstream assets.
Closing is expected by July 31. BreitBurn is acquiring other interests in certain of the acquired assets from other sellers for an added $30.2 million.
The publicly traded partnership of Los Angeles has assets in northern Michigan, the Los Angeles basin in California, Wind River and Big Horn basins in central Wyoming, Green River and Evanston basins of eastern Wyoming, Sunniland trend in Florida, and New Albany shale in Indiana and Kentucky.