Bill Barrett sells gas interests, buys oil assets in Rockies | Russell T. Rudy Energy LLC
According to a recent article in “Rigzone”, Bill Barrett Corp. is disposing of gas producing properties in Wyoming’s Powder River Basin and Colorado’s Piceance Basin to acquire oil producing assets in Colorado. Bill Barrett would not disclose the buyer, but did say the transaction, valued at $757 million, will enable the company to reduce its debt by approximately that amount.
Concurrently, Vanguard Natural Resources, LLC announced the purchase of 12,000 net acres of gas properties from Bill Barrett for $525 million. The acreage is currently producing approximately 67 million cubic feet equivalent per day.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/135032/Bill .
September 17, 2014 | Oil and Gas, oil and gas royalties
