Berry Petroleum Acquires Undeveloped Acreage in Colorado
Berry Petroleum has purchased a 50% working interest in approximately 70,000 gross (60,000 net) undeveloped acres in Colorado's Phillips and Sedgwick counties from Chandler Energy, LLC. This additional Niobrara leasehold position is adjacent to and immediately north of Berry's producing assets in Yuma County. Berry, as operator of the acreage, is scheduled to begin shooting a 3-D seismic survey within the next three months and expects to drill the first delineation wells in mid-2006.
Robert Heinemann, president and chief executive officer, said,
"This acreage acquisition is part of our ongoing strategy of adding
highly prospective acreage near our core areas and is an excellent
opportunity to leverage our operational and technical expertise in the
Niobrara producing assets. Our interest in this shallow gas
development area will now total approximately 550,000 acres."
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- Berry Petroleum Adds Members to Board (Feb 11)