Breitburn Energy Partners LP acquired natural gas and oil producing assets in the Evanston and Green River basins, primarily in Wyoming, from Cabot Oil & Gas Corp. for $283 million.
The acquisition involves estimated proved reserves of 230 bcf of gas equivalent, including 136 bcf of proved developed reserves. Anticipated 2012 net production is more than 30 MMcfd.
Breitburn acquired 620 producing wells in 16 fields along with more than 90 proved, undeveloped drilling locations and more than 600 additional potential drilling sites.
Through the transaction, Breitburn acquired 255,000 gross acres (about 125,000 net) with 238,000 gross acres (111,500 net) in Wyoming, 15,000 gross acres (13,000 net) in Colorado, and 2,000 gross acres (500 net) in Utah.
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.