Barrett Resources Corp., a Denver-based independent producer,reported that a major well blowout that erupted early Thursday mayhave been caused by “downhole casing failure due to extendedexposure to high pressure.”

By late yesterday afternoon, the well – which is located 50miles west of Casper, WY – had not been plugged yet, and still wasventing huge amounts of natural gas into the atmosphere, saidBarrett Resources President and CEO Ralph Reed. He noted the well,which blew at about 2 am. (Mountain Time), was located in a “prettyisolated area,” precluding the need to evacuate any residents.There were no fires, explosions or injuries reported.

Reed noted it was “hard to say” whether the well was lostcompletely. He said the company had hoped to salvage some of thenatural gas reserves. Since last February, the well has beenproducing 45 MMcf/d of gas for a total of about 7 Bcf.

Barrett Resources, which has a 70% interest in the well and isoperator, notified the New York Stock Exchange to delay the tradingof the company’s stock early Thursday. It opened at about $21 pershare, down almost five points, but moved up to close at 22 5/8.

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