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BreitBurn Energy finds there's still black gold in them thar wells
BreitBurn Energy finds there's still black gold in them thar wells

More than 25 years ago, Stanford University petroleum engineering graduates Halbert S. Washburn and Randall H. Breitenbach had a brainstorm. The major U.S. oil companies were abandoning oil fields nationwide for cheaper crude opportunities abroad. Why not form a company to fill the void by buying existing oil fields at low cost and extracting all of the crude that remained in the fields the industry giants had left behind? So they formed BreitBurn Energy Partners, now based in downtown Los Angeles. Even today, said Washburn, the company's chief executive, "we don't explore for new wells." Instead, the company acquires existing oil fields still flush with reserves....

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