Breitburn turned to Latham & Watkins on its acquisition of QR Energy, which would create one of the largest master limited partnerships focused on oil exploration and production. Vinson & Elkins counseled QR Energy, while Bracewell & Giuliani represented the company's board of directors conflicts committee. Gibson, Dunn & Crutcher served as counsel to Breitburn's financial adviser UBS.
July 24, 2014 at 07:00 PM
1 minute read
Breitburn Energy Partners LP is buying Houston-based QR Energy LP for about $1. 6 billion, creating one of the largest master limited partnerships focused on oil exploration and production.
The companies estimated the total value of the transaction at $3 billion, including debt and outstanding Class C convertible preferred units. The transaction has been approved by the boards of directors of both companies, including the QR Energy board of directors’ conflicts committee.
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