Williams has completed the purchase of certain interests in Colorado’s Piceance Basin for approximately $285 million in cash from Oklahoma City, OK-based independent producer SandRidge Energy and other parties. The assets represent more than 1.9 Tcfe of probable and possible reserves on approximately 32,500 gross acres and 24,000 net acres, according to Williams. The transaction will boost Williams’ probable and possible reserves in the basin by more than 42% to 6.4 Tcfe, based on Williams year-end 2007 estimates. Williams noted that it also had 2.8 Tcfe of proved reserves at year-end 2007 in the Piceance Basin. The deal was announced earlier this month (see Daily GPI, May 9).

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