Bill Barrett to Divest Williston Basin Properties
Bill Barrett Corporation intends to divest its Williston Basin properties. The Company plans to begin marketing efforts early next year and to close during the second quarter of 2007.
Fred Barrett, Chairman and Chief Executive Officer, commented, "Although we have been pleased with our progress in the Williston Basin thus far, we look forward to focusing our management effort and capital on other projects in our portfolio that should have a larger impact on our expected double digit reserve and production growth."
Production in the Williston Basin is approximately 1,200 barrels of oil equivalent per day (Boepd) or 5% of the Company's current production rate. The Company has approximately 160,000 net undeveloped acres in the Williston and proved reserves at year-end 2005 were approximately 5.3 Mboe.
Bill Barrett Corporation, headquartered in Denver, explores for and develops natural gas and oil in nine basins and the overthrust belt in the Rocky Mountain region of the United States.
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- Bill Barrett Adds Member to BOD (Dec 01)