This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BreitBurn Energy Partners' CEO To Present At Barclays 2012 High Yield Bond And Syndicated Loan Conference (Transcript)

BreitBurn Energy Partners L.P. (BBEP)

Barclays 2012 High Yield Bond and Syndicated Loan Conference Call

March 26, 2012 11:50 am ET


Hal Washburn - Director & CEO




Good morning. Our next presenter is Hal Washburn, he is the co-founder and Chief Executive Officer of BreitBurn Energy Partners. Hal?

Hal Washburn

Thank you. I am Hal Washburn, I am the CEO and co-founder of BreitBurn Energy Partners. We are a publicly traded master limited partnership focused on long-lived oil and gas producing properties across the United States. We have been in business since 1988, about 24 years, we have been public since 2006 as an upstream MLP. We have been following the same basic business strategy since 88, that is to acquire interest in large oil and gas fields and to focus on operations and technical innovation to increase reserves, production, cash flow and therefore value. As I said we have been in business for over 20 years successfully following the same strategy. We have assets now across the country, long-lived oil and gas fields. We actually have a Reserve Life Index of over 18 years. So our reserve production ratio is 18 plus years.

We are divided into two divisions. Our Northern division, the Antrim Shale in Michigan and several other zones, the New Albany Shale in Indiana Kentucky and oil and gas assets in Wyoming and Wind River, Big Horn, Evanston and Green River basins.

Our Southern division which is primarily crude oil, is Los Angeles basin in Southern California and the Sunniland Trend in South Florida. As of the end of last year, we were just under a Tcfe improved reserves of 151 million barrels of oil equivalent, about 35% crude oil and about 65% natural gas. Our prove development ratio which is very important for master and limited partnership, our prove development ratio is 87%. What that means is we produced almost 90% of the reserves on our books without drilling additional new wells.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs