67 WALL STREET, New York - December 13, 2013 - The Wall Street Transcript has just published its Top 15 CEO Interviews of 2013 Report. This special feature contains expert industry commentary through in-depth interviews with successful public company CEOs. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Top 15 CEO Interviews of 2013
Companies include: Breitburn Energy Partners LP (BBEP)
In the following excerpt from the Top 15 CEO Interviews of 2013 Report, the CEO of Breitburn Partners discusses the outlook for his company for investors:
TWST: Would you begin with a brief historical sketch of the company and a picture of the things you are doing now?
Mr. Washburn: BreitBurn has been in business for 25 years. We started the company in 1988, and my partner, Randy Breitenbach, retired at beginning of this year. We were classmates at Stanford, studied petroleum engineering, and after a few years working in the industry, decided to start an E&P company. Our focus at that time is really the focus that we still employ today. We look to buy interests in large oil and gas fields and to increase production, reserves and cash flow value by operating more efficiently and by applying new technologies and better reservoir understanding. We've done it well for a long time. We've built a team that has a lot of experience in the basins where we operate.
We went public as an MLP in October 2006 for a number of reasons. First, we had looked at the MLP structure and what had been going on up in Canada with royalty trusts, which were very similar in structure to the U.S. MLPs. We thought that the properties we had historically purchased and operated would be great in that structure because they generated a very dependable cash flow stream. We had historically hedged a great deal of production, so we knew we had a lot of visibility into what we would be able to generate.
We thought it would be a good structure in the U.S...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.