The newly acquired property is adjacent to land that Patriot and Bill Barrett Corporation currently hold. Patriot plans to offer Bill Barrett Corporation their proportionate share under the recently signed area of mutual agreement between the two companies.
"The purchase from Anadarko increases our position in the Big Horn Basin, which we believe to be an area rich in natural gas reserves," said Jonathan Feldman, founding principal and chief executive officer of Patriot Exploration. "This purchase along with our recent participation agreement with Bill Barrett Corporation makes Patriot a significant investor in the Big Horn region."
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