Bill Barrett Corporation (BBG) reported the closing of an acquisition of properties in the Denver Julesburg Basin that are prospective for the Niobrara and several other formations. The company paid $150 million for 28,000 net acres, 650 barrels of oil equivalent (BOE) per day of production and 7 million BOE of proved reserves.
Bill Barrett Corporation also holds 38,200 net acres in the Sagebrush area and 103,000 net acres within the Wind River Basin of Wyoming that is prospective for the Niobrara Shale. The company drilled a horizontal exploration well into the Niobrara in the fourth quarter of 2010. The well is currently undergoing completion operations that were delayed due to environmental considerations.