Bill Barrett Corporation, together with its wholly-owned subsidiaries, operates as an independent energy company that 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. As of December 31, 2013, the company had three major areas of production, such as the Denver-Julesburg Basin (DJ Basin), the Uinta Oil Program in the Uinta Basin, and the Gibson Gulch area in the Piceance Basin. It also operates an early stage oil program in Powder River Basin and holds acreage in various exploration areas. DJ Basin The company’s acreage positions in the DJ Basin are primarily located in Colorado’s eastern plains and parts of southeastern Wyoming. As of December 31, 2013, its estimated proved reserves were 65.8 MMBoe. The company had interests in 324 gross (203.3 net) producing wells and served as operator in 209 gross wells. It held 60,672 net undeveloped acres. As of December 31, 2013, the company was drilling 2 gross wells (0.9 net) and waiting to complete 16 gross (12.8 net) wells within the DJ Basin. In 2013, the company drilled 51 operated wells in this area, which was undrilled. It also drilled 10 operated wells in the core Wattenberg portion of its position, which is de-risked as a result of existing production from vertical wells in the field. Uinta Basin The Uinta Basin is located in northeastern Utah. During 2013, the company’s development operations were conducted through two key programs, such as its Uinta Oil Program and the West Tavaputs area, which is primarily a natural gas development. Uinta Oil Program: The Uinta Oil Program includes four areas of development that are located around the basin that the company refers to as Blacktail Ridge, Lake Canyon, East Bluebell and South Altamont. As of December 31, 2013, its estimated proved reserves were 53.2 MMBoe. It had interests in 299 gross (170.2 net) producing wells and served as operator in 216 gross wells. The company held 70,795 net undeveloped acres. As of December 31, 2013, it had a 61% weighted average working interest in producing wells in the Uinta Oil Program. During 2013, the company conducted two 80-acre spacing pilot projects, one each in the southern and northern portions of the Blacktail Ridge area. Piceance Basin The Piceance Basin is located in northwestern Colorado. As of December 31, 2013, the company’s estimated proved reserves were 72.6 MMBoe. The company had interests in 956 gross (745.0 net) producing wells and served as the operator in 926 gross wells. It held 41,011 net undeveloped acres, including the Cottonwood Gulch prospect. As of December 31, 2013, the company had a 15% weighted average working interest in producing wells in the Powder River Basin. The company’s Powder River Oil Program targets various Cretaceous oil bearing horizons, including the Parkman, Sussex, Shannon, Niobrara, Turner, and Frontier formations through horizontal wells. During 2013, it drilled and completed 5 operated wells and participated in 15 non-operated wells. In 2014, it intends to participate in approximately 34 gross non-operated wells. Marketing and Customers The company markets the majority of the oil production from its operated properties, other than in the Piceance Basin, where it markets natural gas, its natural gas and related NGLs are marketed by third parties under percentage of proceeds contracts. Purchasers include pipelines, processors, marketing companies, local distribution companies, and end users. 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)
1099 18th Street
Denver, CO 80202
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