Bill Barrett Corp. announced plans Wednesday to divest its Williston Basin oil and natural properties, beginning marketing efforts in early 2007 and closing during the second quarter.
Production in the Williston Basin is approximately 1,200 boe/d or 5% of the company's current production rate, the Denver, CO-based producer said. The company reported it has approximately 160,000 net undeveloped acres in the Williston Basin, and that proved reserves at year-end 2005 were approximately 5.3 million boe.
"Although we have been pleased with our progress in the Williston Basin thus far, we look forward to focusing our management effort and capital on other projects in our portfolio that should have a larger impact on our expected double-digit reserve and production growth," said Fred Barrett, chairman and CEO of the company/
Williston Basin is located along the eastern edge of the Rocky Mountains in western North Dakota, eastern Montana and southern Canada.
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