BNET Industries
Market Cap:$596.4M
Last Fiscal Year Sales:$802.4M
- Public
- US
Co-Chief Executive Officer, Chairman of The Board
Halbert S. WashburnContact Information
515 South Flower Street, Suite 4800
Los Angeles, California 90071
(213) 225-5900
Peer Companies
NAICS Code Crude Petroleum and Natural Gas Extraction: 211111
News & Analysis
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breitburn energy partners lp - All News and Analysis
BreitBurn Energy Partners L.P. Q3 2009 Earnings Conference Call
Question-and-Answer SessionOperator Thank you. The question and answer session will be conducted electronically. Operator Instructions. We will take our first question from Scott Hanold from RBC Capital. Scott Hanold - RBC Capital When you guys look at your production obviously tell then they are pretty good and...
BreitBurn Energy Partners L.P Q2 2009 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Michael Blum - Wells Fargo. Michael Blum - Wells Fargo Couple of questions, one; can you quantify, if you can you mentioned you think you could see further cost saving efforts both on the OpEx side and G&A? How much...
BreitBurn Energy Partners L.P Q2 2009 Earnings Call Transcript
BreitBurn Energy Partners L.P BBEP Q2 2009 Earnings Call August 10, 2009; 1:00 pm ET
BreitBurn Energy Partners Generates Income, But What About Dividends?
Master Limited Partnerships can be an excellent investment vehicle for individuals, in many cases employing conservative business models that generate strong cash flows and tax-sheltered earnings. Breitburn Energy Partners BBEP is an unusual member of the MLP family as it does not currently pay a distribution. Let's take a...
Seth Klarman's Baupost Group Discloses Activist Stake in Breitburn Energy
Market Folly submits: Hedge fund Baupost Group has filed an activist stake via 13D filing and has disclosed a 16.1% ownership stake in Breitburn Energy Partners BBEP due to activity on April 27th, 2009. They now own 8,495,939 shares. This is not a new position for Klarman, as they previously...
BreitBurn Energy Partners Q4 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of John Kang - RBC Capital Markets John Kang - RBC Capital Markets I guess the first question that comes to mind with your new CapEx program is what is your thoughts on maintenance...
Insiders See Value in Slippery Oil Patch
Scott Snively submits: The SPDR Energy Sector XLE plunged by as much as 4% in early trading yesterday, registering a new 52-wk low. The low water mark of 61.06 followed 10-consecutive days of above average trading volume, and was more than 16% below the 50-day moving average. By noon yesterday,...
THE BREITBURN MLP
BreitBurn Energy Partners LP has joined Linn Energy LLC and EV Energy Partners LP as the new U.S. oil and gas exploitation companies using an MLP format. Here. BreitBurn's co-chief executives discuss their plans.In October, some 50% of Los Angeles-based producer BreitBurn Energy Co.'s oil and gas assets were rolled...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Hart Randall | Co-Chief Executive Officer |
| Randall Breitenbach | Co-Chief Executive Officer, Director |
| James G. Jackson | Executive Vice President, Chief Financial Officer |
| Mark L. Pease | Executive Vice President and Chief Operating Officer |
| Gregory C. Brown | Executive Vice President, General Counsel |
| Chris E. Williamson | Senior Vice President, Production Operations and Western Division |
| Jackson Washburn Willis | Senior Vice President, Business Dev. |
| Bruce D. McFarland | Vice President, Treasurer & Secretary |
| David D. Baker | Vice President Eastern Region |
| Dwayne T. Stewart | Vice President, Geosciences and Eastern Division |
| W. Jackson Washburn | Vice President, Business Development |
| Thurmon Andress | Managing Director of Breitburn Management |
| Dennis Graue | Manager, Exploitation of Breitburn Management |
| Jonathan Kuespert | Manager, Development and Senior Geologist of Breitburn Management |
| Lawrence C. Smith | Controller |
| William Fong | Engineer With Breitburn Management |
| Greg L. Armstrong | Director |
| John R. Butler | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Halbert S. Washburn | Co-Chief Executive Officer, Chairman of The Board |
| Charles S. Weiss | Board of Directors |
| David B. Kilpatrick | Board of Directors |
| Gregory J. Moroney | Board of Directors |
| Randall J. Findlay | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Co-Chief Executive Officer, Chairman of The Board | Current |
| BreitBurn Energy Partners LP | Chairman & Co-CEO | Current |
| BreitBurn Energy Partners LP | Board of Directors | Current |
| Provident Energy Trust | Co-Founder | Former |
| Stanford University | bachelor of science degree in Petroleum Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Co-Chief Executive Officer | Current |
| Breitburn Energy Partners L.P. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Co-Chief Executive Officer, Director | Current |
| BreitBurn Energy Partners LP | Co-CEO | Former |
| BreitBurn Energy Partners LP | Board of Directors | Current |
| Provident Energy Trust | Co-Founder | Former |
| BreitBurn Energy Partners LP | Randy Breitenbach | Former |
| Harvard Business School | M.B.A. | Former |
| Stanford University | M.S. Degree In Petroleum Engineering | Former |
| Stanford University | B.S | Former |
James G. Jackson has been the Chief Financial Officer of our general partner since July 2006. Mr. Jackson also has served as the Chief Financial Officer of BreitBurn Energy since July 2006. Before joining our general partner and BreitBurn Energy, Mr. Jackson served as Managing Director of Merrill Lynch & Co.'s Global Markets and Investment Banking Group. Mr. Jackson joined Merrill Lynch in 1992 and was elected Managing Director in 2001. Previously, Mr. Jackson was a Financial Analyst with Morgan Stanley & Co. from 1986 to 1989 and was an Associate in the Mergers and Acquisitions Group of the Long-Term Credit Bank of Japan from 1989 to 1990. Mr. Jackson obtained a B.S. in Business Administration from Georgetown University and an M.B.A. from the Stanford Graduate School of Business.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Executive Vice President, Chief Financial Officer | Current |
| Stanford Graduate School of Business | M.B.A. | Former |
| Georgetown University | B.S. In Business Administration | Former |
Mark L. Pease joined BreitBurn Energy in December 2007. Mr. Pease has more than 27 years of experience in the oil and gas industry with Anadarko Petroleum, where he was a Senior Vice President responsible for all exploration and production in North America, overseeing production of approximately 330,000 barrels of oil equivalent per day with a $2.6 billion annual capital budget. During his career at Anadarko, Mr. Pease had worldwide responsibility for drilling, major project management, production technology and corporate planning as well as serving on the Executive Committee. He began his career with Anadarko in 1979 as an engineer and continued to hold positions of increasing responsibility. He was General Manager of Anadarko Algeria in 1993, Vice President, Algeria in 1998, Vice President, Engineering and Technology and Vice President, International and Alaska Operations in 2001, Vice President, U.S. Onshore and Offshore in 2002 and Senior Vice President, North America in 2004. Mr. Pease graduated from the Colorado School of Mines in 1978 with a B.S. degree in petroleum engineering. He has served on the Board of Directors for Junior Achievement of Southeast Texas.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Executive Vice President and Chief Operating Officer | Current |
| Anadarko Canada Corporation | Senior, Vice President, N American Foundation Assets | Current |
| Anadarko Petroleum Corporation | Senior Vice President, E&P Technology and Services, Anadarko Petroleum Corporation | Current |
| American Petroleum Institute | Policy Committee Member | Current |
| Anadarko Algeria Company | General Manager | Former |
| Anadarko Petroleum Corporation | Division Production Engineer | Former |
| Colorado School of Mines | B.S. Degree In Petroleum Engineering | Former |
Gregory C. Brown joined BreitBurn Management Company as Executive Vice President and General Counsel in December of 2006. Before joining BreitBurn, Mr. Brown was the founding partner in 1981 of the Los Angeles law firm, Bright and Brown. Mr. Brown's practice at Bright and Bright was primarily within the context of the energy industry, dealing with complex transactions and litigation, environmental law, permitting, entitlements, and related issues. Mr. Brown has represented BreitBurn since its inception in the late 1980's. Mr. Brown is rated AV (highest rating) by Martindale-Hubbell and has been named for several years as a Southern California "Super Lawyer", both peer based rating systems. Mr. Brown was named as the 2006 Outstanding Lawyer by the J. Reuben Clark Law Society. Mr. Brown received his J.D. from the University of California at Los Angeles in 1976 following his receipt of his B.A. with honors, Phi Beta Kappa, from George Washington University. In addition to many community and charitable activities, Mr. Brown was elected to the City Council of La Canada Flintridge, California in 2003 and previously served as its Mayor.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Executive Vice President, General Counsel | Current |
| Maj Properties | Senior Vice President | Current |
| Bright Com, Inc. | Partner | Former |
| University of California, Los Angeles | J.D. | Former |
| The George Washington University | Bachelor of Arts | Former |
| University of California, Los Angeles | Bachelor Degrees In Economics and Psychology | Former |
Chris E. Williamson has been Vice President of Operations of our general partner since March 2006. Since joining BreitBurn Corporation, a predecessor of BreitBurn Energy, in 1994, Mr. Williamson has served in a variety of capacities. Mr. Williamson has served as Vice President Operations from April 2005 to the present and as Business Unit Manager from 1999 to April 2005. Before joining BreitBurn Energy, Mr. Williamson worked for five years as a petroleum engineer for Macpherson Oil Company. Prior to his position with Macpherson, Mr. Williamson worked at Shell Oil Company for eight years holding various positions in Engineering and Operations. Mr. Williamson holds a B.S. in Chemical Engineering from Purdue University.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Senior Vice President, Production Operations and Western Division | Current |
| Shell Oil Company | Former | |
| Purdue University | B.S. In Chemical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Senior Vice President, Business Dev. | Current |
| Breitburn Energy Partners L.P. | Vice President, Business Dev. | Former |
Bruce D. McFarland has been the Treasurer of our general partner since March 2006. Mr. McFarland served as the Chief Financial Officer from March 2006 through June 2006. Since joining BreitBurn Corporation, a predecessor of BreitBurn Energy, in 1994, Mr. McFarland served as Controller and has served as Treasurer for more than five years. Before joining BreitBurn Energy, Mr. McFarland served as Division Controller of IT Corporation and worked at Price Waterhouse as a certified public accountant. Mr. McFarland obtained a B.S. in Civil Engineering from the University of Florida and an M.B.A. from University of California, Los Angeles.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Vice President, Treasurer & Secretary | Current |
| Breitburn Energy Partners L.P. | Treasurer | Current |
| IT LLC | Division Controller | Former |
| University of California, Los Angeles | M.B.A. | Former |
| University of Florida | B.S. In Civil Engineering | Former |
David D. Baker has been Vice President - Reservoir Engineering and Central Division of our general partner since January 2008. Mr. Baker joined BreitBurn Corporation, a predecessor of BreitBurn Energy, in 1999 as a reservoir engineer. Most recently, Mr. Baker was the Manager, Reserves & Evaluations from 2007 to 2008 for BreitBurn Management. Mr. Baker was the Manager of Acquisitions from 2004 to 2007, first for BreitBurn Energy and then, for BreitBurn Management. Mr. Baker obtained a B.S. degree in Chemical Engineering from Brigham Young University.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Vice President Eastern Region | Current |
| Breitburn Energy Partners L.P. | Manager | Former |
| Breitburn Energy Partners L.P. | Engineer | Former |
Dwayne T. Stewart has been Vice President Geosciences and Central Division of our general partner since January 2008. Mr. Stewart joined BreitBurn Energy in March 2006 as the Manager of Reserves. Mr. Stewart became the Manager of Reserves for BreitBurn Management in October 2006 and then was the Exploitation Manager, East from July 2007 to January 2008, also for BreitBurn Management. Prior to joining BreitBurn Energy, Mr. Stewart worked as a petroleum engineer for Netherland, Sewell & Associates, Inc. from 2004 to 2006 and worked at ExxonMobil Corporation for 9 years holding various engineering positions. Mr. Stewart obtained a B.S. in Chemical Engineering from Louisiana Tech University and is a Licensed Professional Petroleum Engineer.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Vice President, Geosciences and Eastern Division | Current |
| The Reserves | Manager | Former |
| Netherland, Sewell & Associates, Inc. | Engineer | Former |
| Louisiana Tech University | B.S. In Chemical Engineering | Former |
W. Jackson Washburn has been Vice President Business Development of our general partner since August 2007. Mr. Washburn also currently serves as Vice President, Real Estate of Pro GP. Since joining BreitBurn Corporation, a predecessor of BreitBurn Energy, in 1992, Mr. Washburn has served in a variety of capacities, and has served as President of BreitBurn Land Company, LLC, a subsidiary of BreitBurn Energy, since 2000. Mr. Washburn obtained a B.A. in Psychology from Wake Forest University.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Vice President, Business Development | Current |
| Wake Forest University | B.A. In Psychology | Former |
| Organization | Position | Status |
|---|---|---|
| Edge Petroleum Corporation | President, Andress, Oil & Gas Company | Current |
| Breitburn Energy Partners L.P. | Managing Director of Breitburn Management | Current |
| BreitBurn Energy Partners LP | Managing Director, Houston | Current |
| BreitBurn Energy Partners LP | Board Director | Current |
| Enterprise GP Holdings L.P. | Board Director | Current |
| Edge Petroleum Corporation | Board of Directors | Current |
| National Petroleum Council | Board Member | Current |
| Breitburn Energy Partners L.P. | Chief Executive Officer | Former |
| Breitburn Energy Partners L.P. | President | Former |
| Edge Petroleum Corporation | Compensation Committee Chairman | Former |
| Texas Tech University | B.S. In Geology | Former |
Dr. Dennis Graue is Manager, Exploitation of BreitBurn Management. Dr. Graue has been a Manager, Reservoir Engineering, of BreitBurn Energy since 2000. Before joining BreitBurn Energy, Dr. Graue founded and owned NITEC from 1995 to 2000. From 1978 to 1995, Dr. Graue was Senior Vice President and head of the Exploration and Producing Consulting Division. Dr. Graue obtained a B.S., an M.S. and a Ph.D. in Chemical Engineering from California Institute of Technology.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Manager, Exploitation of Breitburn Management | Current |
Jonathan Kuespert is Manager, Development and Senior Geologist of BreitBurn Management. Mr. Kuespert has been with BreitBurn Energy since January 2001 after spending more than 19 years working in the oil and gas industry. Mr. Kuespert began his career as a Development Geologist and then an Exploration Geologist/Geophysicist for Chevron USA, focusing on California basins. More recently Mr. Kuespert was a Geological Consultant for evaluation, exploration and development projects. Mr. Kuespert holds a B.S. in Geology from Duke University, an M.S. in Petroleum Geology from Stanford University and an M.B.A from UCLA, and is both a California and a Wyoming Registered Geologist.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Manager, Development and Senior Geologist of Breitburn Management | Current |
| Stanford University | M.S. In Petroleum Geology | Former |
| University of California, Los Angeles | M.B.A | Former |
| Duke University | B.S. In Geology | Former |
Lawrence C. Smith has been the Controller of our general partner since June 2006. Mr. Smith also has served as the controller of BreitBurn Energy since June 2006. Before joining our general partner and BreitBurn Energy, Mr. Smith served as the Corporate Accounting Compliance and Implementation Manager of Unocal Corporation from 2000 through May 2006. Mr. Smith worked at Unocal from 1981 through May 2006 and held various managerial positions in Unocal's accounting and finance organizations. Mr. Smith obtained a B.B.A. in Accounting from the University of Houston, an M.B.A. from the University of California at Los Angeles, and is a certified public accountant.
| Organization | Position | Status |
|---|---|---|
| BreitBurn Energy Partners LP | Controller | Current |
| Breitburn Energy Partners L.P. | Controller | Current |
| Unocal Corporation B.V. | Implementation Manager | Former |
| University of California, Los Angeles | M.B.A. | Former |
| The University of Houston | B.B.A. In Accounting | Former |
Dr. William Fong will be an Engineer with BreitBurn Management. Dr. Fong has been Senior Reservoir Engineer with BreitBurn Energy since 2002. Before joining BreitBurn Energy, Dr. Fong served as Advisor, Reservoir Modeling and Simulation, at Chevron from 2000 to 2002, as a Senior Reservoir Engineer at Chevron USA from 1999 to 2000, and as a Senior Research Scientist at Chevron Petroleum Technology from 1988 to 1999. Dr. Fong holds a B.S. from Cal Tech and a Sc.D. from MIT, both in chemical engineering.
| Organization | Position | Status |
|---|---|---|
| Breitburn Energy Partners L.P. | Engineer With Breitburn Management | Current |
| Chevron USA, Inc. | Advisor | Former |
| California Institute of Technology | B.S. | Former |
Charles S. Weiss was appointed to be a member of the Board of Directors of our general partner in August 2006, effective upon the pricing of our initial public offering. Mr. Weiss is a Founder and Managing Partner of JOG Capital Inc., a position that he has held since July 2002. In addition, Mr. Weiss served as Managing Director and Head of Royal Bank of Canada's Capital Markets Energy Group, a position he held from October 2002 through May 2006. From June 2001 to July 2002, Mr. Weiss pursued various investment opportunities, which included the establishment of JOG Capital Inc. Previously, Mr. Weiss was the Managing Director and Head of the Energy and Power Group with Bank of America Securities from 1998 to June 2001. Mr. Weiss obtained a B.A in Physics from Vanderbilt University and an M.B.A. from the University of Chicago School of Business.
| Organization | Position | Status |
|---|---|---|
| Jog Capital Inc. | Founder | Current |
| Jog Capital Inc. | Managing Partner | Current |
| Breitburn Energy Partners L.P. | Board of Directors | Current |
| Bank of America Securities LLC | Managing Director | Former |
| Bank of America Securities LLC | Head of The Energy and Power Group | Former |
| Vanderbilt University | B.A In Physics | Former |
| Organization | Position | Status |
|---|---|---|
| PYR Energy Corporation | Director of the Company | Current |
| PYR Energy Corporation | Chairman of the Board of Directors | Current |
| Breitburn Energy Partners L.P. | Board of Directors | Current |
| We Inc | Director | Current |
| Texaco | President | Former |
| Texaco | Chief Operating Officer | Former |
| Cheniere Energy, Inc. | Director of the Company and Chairman of the Audit Committee and Member of the Compensation Committee | Former |
| Whittier College | Bachelor's Degree In Geology and Physics | Former |
| University of Southern California | Bachelor of Science Degree In Petroleum Engineering | Former |
| Whittier College | Degree, Geology and Physics | Former |
| Cheniere Energy, Inc. | Member | Former |
| Organization | Position | Status |
|---|---|---|
| Plains Marketing, LP | Chairman & CEO | Current |
| Quality Tubing | Chairman and Chief Executive Officer | Current |
| Bluewater Gas Storage, LLC | Chairman and CEO | Current |
| Ctes, Ltd. | Chairman and Chief Executive Officer | Current |
| Rolligon Corp | Chairman and Chief Executive Officer | Current |
| Plains All American Pipeline, L.P. | CEO | Current |
| Vulcan Energy Corporation | Chief Executive Officer | Current |
| Drillwell | Current | |
| Plains All American Pipeline, L.P. | Chairman | Current |
| Ctes, Ltd. | Board of Directors | Current |
| National Petroleum Council | Board of Directors | Current |
| Breitburn Energy Partners L.P. | Director | Current |
| National Oilwell Varco, Inc. | Director | Current |
| National Petroleum Council | Member | Current |
| Vulcan Energy Corporation | Chief Operating Officer | Former |
| Vulcan Energy Corporation | Vice President | Former |
| Plains All American Pipeline, L.P. | General Partner | Former |
| Vulcan Energy Corporation | Corporate Secretary | Former |
| Plains All American Pipeline, L.P. | CEO | Former |
| Plains All American Pipeline, L.P. | Board Chairman | Former |
| Vulcan Energy Corporation | President | Former |
| Pine Prairie Energy Center, LLC | Chairman and CEO | Former |
| Paa, Inc. | Former | |
| Vulcan Energy Corporation | Director | Former |
| Varco | Director | Former |
Gregory J. Moroney was appointed to be a member of the Board of Directors of our general partner in August 2006, effective upon the consummation of our initial public offering. Mr. Moroney is a director of BreitBurn Energy, a position he has held since June 2004. Currently, Mr. Moroney is the Managing Member and Owner of Energy Capital Advisors, LLC, a position he has held since January 2003. Mr. Moroney is also a Senior Financial Consultant for Ammonite Resources LLC, a position he has held since June 2005. Mr. Moroney served as Managing Director for Deutsche Bank Securities Inc. from 1993 to December 2002. Prior to this, Mr. Moroney was with Citicorp/Citibank from 1977 to 1993 in Calgary, Toronto and New York. Mr. Moroney has a B.A. from Yale University.
| Organization | Position | Status |
|---|---|---|
| Ammonite Resources | Financial Consultant | Current |
| Breitburn Energy Partners L.P. | Board of Directors | Current |
| Deutsche Bank Securities Inc. | Managing Director | Former |
| Yale University | B.A. | Former |
| Organization | Position | Status |
|---|---|---|
| National Association of Corporate Directors | Director of the Houston Chapter | Current |
| Society of Petroleum Evaluation Engineers | Board of Directors | Current |
| BreitBurn Energy Partners LP | Director | Current |
| Anadarko Petroleum Corporation | Director | Current |
| Breitburn Energy Partners L.P. | Director | Current |
| Society of Petroleum Evaluation Engineers | Member | Current |
| J. R. Butler and Company | Chairman | Former |
| Kelman Technologies, Inc. | Director | Former |
| Stanford University | B.S. In Chemical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| BreitBurn Energy Partners LP | General Partner | Current |
| Children's Hospital Foundation | Chairman | Current |
| WellPoint Systems Inc. | Board of Directors | Current |
| TransAlta Power, L.P. | Director | Current |
| Pembina Pipeline Corporation | Director | Current |
| Provident Energy Trust | Director | Current |
| Breitburn Energy Partners L.P. | Board of Directors | Current |
| Canadian Mental Health Association | Director | Current |
| Provident Energy Trust | President | Former |
| TransCanada Corp. | president | Former |
| Canadian Mental Health Association | President | Former |
| TransCanada Corp. | senior vice president | Former |
| University of British Columbia | bachelor of applied science in chemical engineering | Former |
Executive News
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Plains All American to acquire remaining interest in gas storage joint venture
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Plains All American Pipeline to Acquire Remaining 50% Interest in
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Plains All American Pipeline to Acquire Remaining 50% Interest in Natural Gas Storage JV
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