Bill Barrett Announces Success at West Tavaputs Deep
Bill Barrett Corporation reported that its delineation test, the Peter's Point 4-12D (100% working interest), was successfully completed in the Navajo formation. The well tested into the sales line on November 12, 2006 at rates of 10.1 million cubic feet equivalent per day (gross) and 12 barrels of water per day, and had a flowing casing pressure of 1,400 pounds per square inch on a 36/64 inch choke. The Company expects to spud its third deep test in December.
Fred Barrett, Chairman and Chief Executive Officer, commented, "We are extremely excited to add to our strong track record of exploration success with the West Tavaputs Deep delineation. We recognize over 20 locations on the Peter's Point seismically defined structure and look forward to testing a similar structure in the Prickly Pear area in the next year or so. Due to the continuing success of our shallow program, we are compression facility constrained and the success in the 4-12D will not be additive to our production for 2006. The West Tavaputs deep program is another significant success contributing to our corporate objective of generating strong double-digit growth in production and reserves."
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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