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 About
BBG
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Since its inception in March 2002, Bill
Barrett Corporation has assembled a portfolio of development and exploratory properties in the Rocky Mountain region of the United
States.
After securing financing from private equity investors, in 2002,
the Company commenced operations by acquiring properties and acreage
primarily in the Wind River, Uinta, and Williston Basins. In 2003
the Company began to drill on those properties along with acquiring
Powder River Basin CBM properties. In 2004, the Company made
its largest acquisition to date when it spent $137 million for
Piceance Basin properties. The Company continues to
develop its properties with active drilling in three core areas - West Tavaputs (Uinta Basin), Piceance Basin and Powder River Basin CBM. The company sees 25-35% production growth in the coming year from these development properties.
In December 2004, the Company closed on its Initial Public Offering
and raised nearly $347 million.
The Company has a track record of exploration discoveries, the following of which are in the process of delineating: Wind River Basin deep, West Tavaputs deep and Lake Canyon (both Uinta Basin).
The Company has significantly grown production, reserves and cash
flow as a result of its drilling program over the last several
years. Production has grown from 24 MMcfe/d in 2002 to 156 MMcfe/d
in the fourth quarter of 2006. Year end 2006 reserves were 428
Bcfe, up from 58 Bcfe in 2002. Discretionary cash flow has grown
to $239 million in 2006.
In 2007, the Company announced plans to test several potentially high impact exploration prospects including Yellow Jacket (Paradox Basin), Woodside (Uinta Basin), Circus (Montana Overthrust), Pine Ridge
(Paradox Basin), Big Horn Basin and Hook (Uinta Basin).
In late Summer 2007, we sold our Williston Basin properties for $81.5 million.
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