Bill Barrett Corporation, an independent energy company, develops, acquires, and explores for oil and natural gas resources. All of the company’s assets and operations are located in the Rocky Mountain region of the United States. Areas of Operation As of December 31, 2015, the company had two key areas of production: The Denver-Julesburg Basin (DJ Basin) and the Uinta Oil Program in the Uinta Basin. DJ Basin The company’s acreage positions in the DJ Basin are predominantly located in Colorado’s eastern plains and parts of southeastern Wyoming. As of December 31, 2015, the company’s estimated proved reserves were 62.3 million barrels of oil equivalent (MMBoe). The company had interests in 280 gross (163.3 net) producing wells and served as operator in 169 gross wells. As of December 31, 2015, the company drilled 1 gross well (1 net). It had a 72% weighted average working interest in its producing wells in the DJ Basin. The DJ Basin is a core area of operation where the company drilled 64 operated wells and completed 67 operated wells in 2014 and had 3 rigs operating at the end of 2014. Uinta Basin The Uinta Basin is located in northeastern Utah. As of December 31, 2015, the company had estimated proved reserves of 21.4 MMBoe. The company had interests in 242 gross (145.9 net) producing wells and served as operator in 174 gross wells. As of December 31, 20145, the company drilled 19 gross (11.5 net) wells. The company had a 56% weighted average working interest in producing wells in the Uinta Oil Program. The Uinta Oil Program includes three areas of development located in the Uinta Basin that the company refers to as Blacktail Ridge, Lake Canyon and East Bluebell. Marketing and Customers The company markets all of the oil production from its operated properties. Its natural gas and related NGLs are generally marketed by third parties under percentage of proceeds contracts. The company sells its production to various purchasers under contracts with daily, monthly, seasonal, annual or multi-year terms. Purchasers include pipelines, processors, refineries, marketing companies and end users. The company sells production to a relatively small number of customers, as is customary in the development and production business. Divestitures In February 2015, the company sold its remaining Powder River Basin assets, which included 19,492 net mineral acres. During the year ended December 31, 2015, the company sold certain non-core assets located in the DJ Basin with two separate transactions closing in October 2015 and November 2015, respectively. These asset sales included approximately 23,000 net acres (76% proved developed) and interests. In November 2015, the company sold certain non-core assets located in the Uinta Basin, which included approximately 17,600 net acres and interests. Environmental Matters and Regulation The company’s exploration and production activities, as well as proposed exploration and development plans, on federal lands require governmental permits that trigger the requirements of the National Environmental Policy Act. The company is in compliance with the requirements of the Resource Conservation and Recovery Act and related state and local laws and regulations, and that it has held, and continue to hold, all necessary and up-to-date approvals, permits, registrations and other authorizations to the extent that the company’s operations require them under such laws and regulations. The Federal Energy Regulatory Commission also regulates interstate natural gas transportation rates and service conditions, which affects the marketing of natural gas that the company produces, as well as the revenues that it receives for sales of its natural gas. History Bill Barrett Corporation was founded in 2002.
bill barrett corp
(BBG:New York Consolidated)
1099 18th Street
Denver, CO 80202
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