BreitBurn Energy Partners is seeking to commence an initial public offering (IPO). The California-based oil and gas exploration and production company will sell a total of 4 million common units.

The company seeks to use the net proceeds from the offering to repay indebtedness outstanding under its existing revolving credit facility. The joint book-running managers for the sale will be Citi, Wells Fargo, RBC Capital Markets and Barclays Capital.

Click here for the release from Business Wire.