Exhibit 10.1

SEVENTH AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

THIS SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
(hereinafter called this “Amendment”) is dated effective as of Febraury 26,
2013, by and among BREITBURN OPERATING L.P., a Delaware limited partnership (the
“Company”), BREITBURN ENERGY PARTNERS L.P., as Parent Guarantor (“Parent”),
BreitBurn GP, LLC (the “Parent GP”), BreitBurn Operating GP, LLC (the “General
Partner”), the Subsidiaries of the Parent and/or the Company, as guarantors (the
“Subsidiary Guarantors”, and together with the Parent, the Parent GP, and the
General Partner, the “Guarantors”), the Lenders (defined below), and WELLS FARGO
BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such
capacity, together with its successors in such capacity “Administrative Agent”).
Capitalized terms used in this Amendment, and not otherwise defined in this
Amendment, have the meanings assigned thereto in the Credit Agreement defined
below.
W I T N E S S E T H:

WHEREAS, the Company, the Guarantors, Administrative Agent, Issuing Lender and
the lenders from time to time party thereto (the “Lenders”) are parties to that
certain Second Amended and Restated Credit Agreement dated as of May 7, 2010, as
amended by that certain First Amendment to Second Amended and Restated Credit
Agreement and Consent and First Amendment to Security Agreement dated as of
September 17, 2010, that certain Second Amendment to Second Amended and Restated
Credit Agreement dated as of May 9, 2011, that certain Third Amendment to Second
Amended and Restated Credit Agreement dated as of August 3, 2011, that certain
Fourth Amendment to Second Amended and Restated Credit Agreement dated as of
October 5, 2011, that certain Fifth Amendment to Second Amended and Restated
Credit Agreement dated as of May 25, 2012 and that certain Sixth Amendment to
Second Amended and Restated Credit Agreement, dated as of October 11, 2012 (as
further amended, modified or restated from time to time, the “Credit
Agreement”), whereby upon the terms and conditions therein stated the Lenders
have agreed to make certain loans to the Company upon the terms and conditions
set forth therein; and

WHEREAS, the Company has requested that the Lenders amend the Credit Agreement
as set forth below; and

WHEREAS, subject to the terms hereof, the undersigned Lenders are willing to
agree to the amendments to the Credit Agreement as set forth herein.

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained, the parties to this Amendment hereby agree as follows:

SECTION 1.    Amendments to Credit Agreement. Effective as of the Amendment
Effective Date, the Credit Agreement is hereby amended as follows:

(a)The following definitions are hereby added to Section 1.01 of the Credit
Agreement in proper alphabetical order:

“Proved Producing Reserves” means, with respect to the Oil and Gas Properties
covered under the most recent Reserve Report delivered to the Administrative
Agent and any Oil and Gas Properties acquired by the Loan Parties after the
effective date

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of such Reserve Report, the reasonably anticipated production for each month for
the total Oil and Gas classified as “proved producing” for such Oil and Gas
Properties.
“Total Proved Reserves” means, with respect to the Oil and Gas Properties
covered under the most recent Reserve Report delivered to the Administrative
Agent and any Oil and Gas Properties acquired by the Loan Parties after the
effective date of such Reserve Report, the reasonably anticipated production for
each month for the total Oil and Gas classified as “total proved” for such Oil
and Gas Properties; provided, however, the “proved developed non-producing”
reserves and “proved undeveloped” reserves included in such calculation shall
not exceed 25% of the “total proved” reserves.
(b)Subsection 8.10(a) of the Credit Agreement is hereby amended and restated in
its entirety as follows:
“(a)    Derivative Contracts entered into by the Company with the purpose and
effect of limiting or reducing the market price risk of Oil and Gas expected to
be produced by the Company and its Subsidiaries provided that at all times: (i)
each such Derivative Contract limits or reduces such market price risk for a
term of no more than sixty (60) months; (ii) no such contract, at the time it is
entered into, when aggregated with all Derivative Contracts permitted under this
Section 8.10(a) (but excluding put option contracts or similar “floor”
arrangements) requires the Loan Parties, collectively, to deliver volumes in
excess of the greater of (x) 85% of Total Proved Reserves or (y) the following
percentages of Proved Producing Reserves:
Year
Volumes
1
100%
2
100%
3
90%
4
90%
5
85%

provided, however, that with regard to a "costless collar" that involves the
purchase of a put and the sale of a call for the same volumes and dates and
commodities, only the volumes associated with the put or the call (but not both)
will be included in calculating the applicable percentage threshold, and (iii)
each such contract shall be between the Company and a Lender Derivative
Provider, or with an unsecured counterparty or have a guarantor of the
obligation of the unsecured counterparty who, at the time the contract is made,
has long-term obligations rated BBB+ or Baal or better, respectively, by
Standard & Poor’s Corporation or Moody’s Investors Services, Inc. (or a
successor credit rating agency) (excluding Derivative Contracts offered by
national commodity exchange for which no credit rating is required);”
(c)Subsection 8.10(b) of the Credit Agreement is hereby amended by deleting the
reference to “A+ or A1” and replacing it with “BBB+ or Baal”.

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SECTION 2.    Guarantor Confirmation.

(a)The Guarantors hereby consent and agree to this Amendment and each of the
transactions contemplated hereby.

(b)The Company and each of the Guarantors ratifies and confirms the debts,
duties, obligations, liabilities, rights, titles, pledges, grants of security
interests, liens, powers, and privileges existing by virtue of the Loan
Documents to which it is a party.

(c)The Company and each of the Guarantors agrees that the guarantees, pledges,
grants of security interests and other obligations, and the terms of each of the
Security Agreements and Guaranties to which it is a party, are not impaired,
released, diminished or reduced in any manner whatsoever and shall continue to
be in full force and effect and shall continue to secure all Obligations.

(d)The Company and each of the Guarantors acknowledges and agrees that all
terms, provisions, and conditions of the Loan Documents to which it is a party
(as amended by this Amendment) shall continue in full force and effect and shall
remain enforceable and binding in accordance with their respective terms.

SECTION 3.    Conditions of Effectiveness. This Agreement and the amendments
hereunder shall become effective as of the date first set forth above (the
“Amendment Effective Date”), provided that the following conditions shall have
been satisfied:

(a)Amendment. The Administrative Agent shall have received a counterpart of this
Amendment which shall have been executed by the Administrative Agent, each of
the Lenders, the Company, and the Guarantors (which may be by telecopy or PDF
transmission).

(b)No Default; Representations and Warranties; No Material Adverse Effect. As of
the Amendment Effective Date:

(i) the representations and warranties of the Company and the Guarantors in
Article VI of the Credit Agreement and in the other Loan Documents as amended
hereby shall be true and correct in all material respects (except to the extent
such representations and warranties expressly refer to an earlier date, in which
case they shall be true and correct as of such earlier date, and except that the
representations and warranties contained in Sections (a) and (b) of Section 6.14
of the Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 7.01 of the
Credit Agreement);

(ii) no Default or Event of Default shall exist; and

(iii) since December 31, 2012, there shall have been no event, development or
circumstance that has had or could reasonably be expected to have a Material
Adverse Effect.
(c)Payment of Fees. Evidence of payment by the Company of all accrued and unpaid
fees, costs and expenses owed pursuant to this Amendment to the extent then due
and payable on the Amendment Effective Date.

(d)Additional Documents. Such other documents, in form and substance
satisfactory to Administrative Agent, as the Administrative Agent may reasonably
request.

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SECTION 4.    Representations and Warranties. Each of the Company and the Parent
represents and warrants to Administrative Agent and the Lenders, with full
knowledge that such Persons are relying on the following representations and
warranties in executing this Amendment, as follows:

(a)    It has the organizational power and authority to execute, deliver and
perform this Amendment, and all organizational action on the part of it
requisite for the due execution, delivery and performance of this Amendment has
been duly and effectively taken.

(b)    The Credit Agreement, as amended by this Amendment, the Loan Documents
and each and every other document executed and delivered to the Administrative
Agent and the Lenders in connection with this Amendment to which it is a party
constitute the legal, valid and binding obligations of it, to the extent it is a
party thereto, enforceable against such Person in accordance with their
respective terms except as enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’
rights generally or by equitable principles relating to enforceability.

(c)    This Amendment does not and will not violate any provisions of any of the
Organization Documents of the Company.

(d)     No approval, consent, exemption, authorization, or other action by, or
notice to, or filing with, any Governmental Authority is necessary or required
in connection with the execution, delivery or performance by, or enforcement
against, any Loan Party of this Amendment.

(e)    After giving effect to this Amendment, no Default or Event of Default
will exist, and all of the representations and warranties contained in the
Credit Agreement and all instruments and documents executed pursuant thereto are
true and correct in all material respects on and as of this date (except to the
extent such representations and warranties expressly refer to an earlier date,
in which case they shall be true and correct as of such earlier date).

SECTION 5.    Reference to and Effect on the Credit Agreement.

(a)    Upon the effectiveness hereof, on and after the date hereof, each
reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,”
“herein,” or words of like import, shall mean and be a reference to the Credit
Agreement as amended hereby.
(b)    Except as specifically amended by this Amendment, the Credit Agreement
shall remain in full force and effect and is hereby ratified and confirmed.
SECTION 6.    Costs and Expenses. The Company agrees to pay all reasonable legal
fees and expenses incurred by Administrative Agent in connection with the
preparation, execution and delivery of this Amendment.
SECTION 7.    Extent of Amendments. Except as otherwise expressly provided
herein, the Credit Agreement and the other Loan Documents are not amended,
modified or affected by this Amendment. Each of the Company and the Parent
hereby ratifies and confirms that (i) except as expressly amended hereby, all of
the terms, conditions, covenants, representations, warranties and all other
provisions of the Credit Agreement remain in full force and effect, (ii) each of
the other Loan Documents are and remain in full force and effect in accordance
with their respective terms, and (iii) the Collateral and the Liens on the
Collateral securing the Obligations are unimpaired by this Amendment and remain
in full force and effect.

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SECTION 8.    Loan Documents. The Loan Documents, as such may be amended in
accordance herewith, are and remain legal, valid and binding obligations of the
parties thereto, enforceable in accordance with their respective terms. This
Amendment is a Loan Document.
SECTION 9.    Claims. As additional consideration to the execution, delivery,
and performance of this Amendment by the parties hereto and to induce
Administrative Agent and Lenders to enter into this Amendment, each of the
Company and the Parent represents and warrants that, as of the date hereof, it
does not know of any defenses, counterclaims or rights of setoff to the payment
of any Indebtedness of the Company or the Parent to Administrative Agent,
Issuing Lender or any Lender.
SECTION 10.    Execution and Counterparts. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed to be an original
and all of which taken together shall constitute but one and the same
instrument. Delivery of an executed counterpart of this Amendment by facsimile
or pdf shall be equally as effective as delivery of a manually executed
counterpart.
SECTION 11.    Governing Law. This Amendment shall be governed by and construed
in accordance with the laws of the State of New York and applicable federal laws
of the United States of America.
SECTION 12.    Headings. Section headings in this Amendment are included herein
for convenience and reference only and shall not constitute a part of this
Amendment for any other purpose.
SECTION 13.    NO ORAL AGREEMENTS. THE RIGHTS AND OBLIGATIONS OF EACH OF THE
PARTIES TO THE LOAN DOCUMENTS SHALL BE DETERMINED SOLELY FROM WRITTEN
AGREEMENTS, DOCUMENTS, AND INSTRUMENTS, AND ANY PRIOR ORAL AGREEMENTS BETWEEN
SUCH PARTIES ARE SUPERSEDED BY AND MERGED INTO SUCH WRITINGS. THIS AMENDMENT AND
THE OTHER WRITTEN LOAN DOCUMENTS EXECUTED BY THE COMPANY, THE GUARANTORS,
ADMINISTRATIVE AGENT, ISSUING LENDER AND/OR LENDERS REPRESENT THE FINAL
AGREEMENT BETWEEN SUCH PARTIES, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BY SUCH PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS BETWEEN SUCH PARTIES.
SECTION 14.    No Waiver. Each of the Company and the Parent hereby agrees that
no Event of Default and no Default has been waived or remedied by the execution
of this Amendment by the Administrative Agent or any Lender. Nothing contained
in this Amendment nor any past indulgence by the Administrative Agent, Issuing
Lender or any Lender, nor any other action or inaction on behalf of the
Administrative Agent, Issuing Lender or any Lender, (i) shall constitute or be
deemed to constitute a waiver of any Defaults or Events of Default which may
exist under the Credit Agreement or the other Loan Documents, or (ii) shall
constitute or be deemed to constitute an election of remedies by the
Administrative Agent, Issuing Lender or any Lender, or a waiver of any of the
rights or remedies of the Administrative Agent, Issuing Lender or any Lender
provided in the Credit Agreement, the other Loan Documents, or otherwise
afforded at law or in equity.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.

THE COMPANY:

BREITBURN OPERATING L.P.,
a Delaware limited partnership

By: BREITBURN OPERATING GP, LLC, its general partner
 

By:    /s/ James G. Jackson                
James G. Jackson
Chief Financial Officer

PARENT:

BREITBURN ENERGY PARTNERS L.P.,
a Delaware limited partnership

By: BREITBURN GP, LLC, its general partner

By:    /s/James G. Jackson    
James G. Jackson
Chief Financial Officer

PARENT GP:

BREITBURN GP, LLC,
a Delaware limited partnership

By:    /s/ James G. Jackson    
James G. Jackson
Chief Financial Officer

GENERAL PARTNER:

BREITBURN OPERATING GP, LLC,
a Delaware limited partnership

By:    /s/ James G. Jackson    
James G. Jackson
Chief Financial Officer

 
Signature Page to Seventh Amendment
 

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SUBSIDIARY GUARANTORS:

BREITBURN FINANCE CORPORATION,
a Delaware corporation

By:
/s/ James G. Jackson                

James G. Jackson
Chief Financial Officer

BREITBURN MANAGEMENT COMPANY, LLC,
a Delaware limited liability company

By:
/s/ James G. Jackson                

James G. Jackson
Chief Financial Officer

ALAMITOS COMPANY,
a California corporation

By:    /s/ James G. Jackson                
James G. Jackson
Chief Financial Officer    

BREITBURN FLORIDA LLC,
a Delaware limited liability company

By:
BREITBURN OPERATING L.P.,
its sole member

By:    BREITBURN OPERATING GP, LLC,
its general partner

By:    /s/ James G. Jackson    
James G. Jackson
Chief Financial Officer

BREITBURN FULTON LLC,
a Delaware limited liability company

By:    /s/ James G. Jackson                
James G. Jackson
Chief Financial Officer

 
Signature Page to Seventh Amendment
 

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BEAVER CREEK PIPELINE, L.L.C.,
a Michigan limited liability company

GTG PIPELINE LLC,
a Virginia limited liability company

MERCURY MICHIGAN COMPANY, LLC,
a Michigan limited liability company

TERRA ENERGY COMPANY LLC,
a Michigan limited liability company, and

TERRA PIPELINE COMPANY LLC,
a Michigan limited liability company

Each by:    /s/ James G. Jackson            
James G. Jackson
Chief Financial Officer

PHOENIX PRODUCTION COMPANY,
a Wyoming corporation, and

PREVENTIVE MAINTENANCE SERVICES LLC,
a Colorado limited liability company

By:    /s/ James G. Jackson                
James G. Jackson
Chief Financial Officer

 
Signature Page to Seventh Amendment
 

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WELLS FARGO BANK, NATIONAL ASSOCIATION as Administrative Agent, Issuing Lender
and a Lender

By:    /s/ Michael Real                
Michael Real
Director

 
Signature Page to Seventh Amendment
 

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JPMORGAN CHASE BANK, N.A. as a Lender

By: /s/ Mark E. Olson    
Name: Mark E. Olson
Title: Authorized Officer

 
Signature Page to Seventh Amendment
 

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CREDIT SUISSE AG, Cayman Islands Branch,
As a Lender

By: /s/ Vipul Dhadda    
Name: Vipul Dhadda
Title: Vice President

By: /s/ Wei-Jen Yuan    
Name: Wei-Jen Yuan
Title: Associate

 
Signature Page to Seventh Amendment
 

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THE BANK OF NOVA SCOTIA,
As a Lender

By: /s/ Terry Donovan    
Name: Terry Donovan
Title: Managing Director

 
Signature Page to Seventh Amendment
 

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ROYAL BANK OF CANADA,

As a Lender

By: /s/ Mark Lumpkin, Jr.    
Name: Mark Lumpkin, Jr.
Title: Authorized Signatory

 
Signature Page to Seventh Amendment
 

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BANK OF SCOTLAND, PLC
As a Lender

By: /s/ Stephen Giacolone    
Name: Stephen Giacolone
Title: Assistant Vice President

 
Signature Page to Seventh Amendment
 

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THE ROYAL BANK OF SCOTLAND PLC,
As a Lender

By: /s/ Sanjay Remond    
Name: Sanjay Remond
Title: Authorized Signatory

 
Signature Page to Seventh Amendment
 

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US BANK NATIONAL ASSOCIATION,
As a Lender

By: /s/ Daniel K. Hansen    
Name: Daniel K. Hansen
Title: Vice President

 
Signature Page to Seventh Amendment
 

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BARCLAYS BANK PLC,
As a Lender

By: /s/ Vanessa A. Kurbatskiy    
Name: Vanessa A. Kurbatskiy
Title: Vice President

 
Signature Page to Seventh Amendment
 

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UNION BANK, N.A.,
As a Lender

By: /s/ Lara Sorokolit    
Name: Lara Sorokolit
Title: Vice President

 
Signature Page to Seventh Amendment
 

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Toronto Dominion (Texas) LLC
As a Lender

By: /s/ Bebi Yasin    
Name: BEBI YASIN
Title: Authorized Signatory

 
Signature Page to Seventh Amendment
 

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BANK OF MONTREAL
As a Lender

By: /s/ Gumaro Tijerina    
Name: Gumaro Tijerina
Title: Director

 
Signature Page to Seventh Amendment
 

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Sumitomo Mitsui Banking Corporation
As a Lender

By: /s/ Shuji Yabe    
Name: Shuji Yabe
Title: Managing Director

 
Signature Page to Seventh Amendment
 

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Citibank, N.A.
As a Lender

By: /s/ Eamon Baqui    
Name: Eamon Baqui
Title: Vice President

 
Signature Page to Seventh Amendment