BreitBurn Energy Partners LP, Los Angeles, (Nasdaq: BBEP) reports following the semi-annual borrowing base redetermination with its syndicate of lenders, the partnership’s borrowing base remains unchanged at $732 million.

The borrowing base decision provides BreitBurn with positive news, as it was previously facing scrutiny from Quicksilver Resources Inc., Fort Worth, Texas, (NYSE: KWK) over co-CEOs Randall H. Breitenbach and Halbert S. Washburn’s purchase of the remaining 96% interest in BreitBurn Energy Co. LP from Provident Energy Trust in August 2008. The company has also recently sold property and hedges in order to reduce debt.

BreitBurn chief financial officer Jim Jackson says, “We are pleased with the reaffirmation of our borrowing base, which was completed without modification to any of the terms of our credit agreement, and acknowledge the continued support of our bank group in this process. We have further reduced our outstanding borrowings since July 31 and were approximately $585 million drawn on our credit facility as of September 30.”

BreitBurn has paid down more than $150 million in borrowings since year-end 2008. The partnership’s next semi-annual borrowing base redetermination is scheduled for April 2010.

BreitBurn has interests in the Antrim shale in Michigan, the Los Angeles Basin in California, the Wind River and Big Horn basins in central Wyoming, the Sunniland trend in Florida, and the New Albany shale in Indiana and Kentucky.