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Barrett’s Proved Reserves Up 21%
Denver-based Barrett Resources Corp. reports that its provedreserves are up 21% to 1,372 Bcfe as of Dec. 31, 2000. The totalincludes 1,323 Bcf of natural gas and 8.1 MM bbl of crude oil andcondensate, of which 42% is undeveloped. Gas reserves represent 96%of total proved reserves, which were 1,076 Bcf and 9.7 MM BBls atthe end of 2000.
Barrett said it added 356 Bcfe of proved reserves in 2000, whichreplaced approximately 303% of 2000 production of 117 Bcfe. TheRocky Mountain region, the focus of the company’s gas explorationand development activity, represents 88% of the company’s 2000proved reserves, an increase of 81% over 1999.
“Barrett’s continued focus on Rocky Mountain natural gas and thecommitment of our employees, led to a great year of over 300%reserve replacement,” said CEO Peter Dea. He said “extensivedevelopment and exploration leaseholds” would position the companygoing forward.
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