Blacktail Ridge is adjacent to and just north of the Company's expansive Lake Canyon exploration position, where it is currently drilling the first of a multi-well program offsetting its 2006 Wasatch Discovery at its #1 DLB well. The Company recognizes at least 200 locations in Blacktail Ridge on 160-acre spacing, targeting the Wasatch and Green River formations at depths ranging from 5,000 to 11,000 feet.
Bill Barrett Corporation has agreed to drill a minimum of 5 test wells in 2007 and 8 test wells each subsequent year to earn a 50% working interest and Ute Energy has the option to participate for up to a 50% working interest in all wells within the prospect boundaries.
Fred Barrett, Chairman and Chief Executive Officer, commented, "We are proud and excited to continue our long-standing relationship with the Tribe with the addition of Blacktail Ridge to our extensive Lake Canyon position. We believe that the Blacktail Ridge has significant long-term upside potential, given its proximity to prolific proven Wasatch and Green River production in Cedar Rim."
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.
Most Popular Articles
From the Career Center
Jobs that may interest you