Santa Fe Snyder Corp. of Houston is high grading its asset basethrough a series of deals. The largest component of the company’sstrategic repositioning is the $160 million purchase of additionaldeepwater Gulf of Mexico interests from Marathon Oil. Santa Febought an additional 33% interest in the Angus/Manatee six-blockcomplex, bringing the total working interest in the Shell operatedfields to 49%. The deal closed Jan. 7. The company said it is alsodisposing of low-profit assets.

Denver-based Barrett Resources Corp. announced yesterday that itbought the remaining 6% working interest in the Piceance Basin gasproperties that it operates in western Colorado for $10.7 million.The company estimates the acquired interests include 32 Bcf ofproved gas reserves, of which 46% are classified as proveddeveloped. This deal along with one in December increases Barrett’sworking interest in its Piceance Basin properties from 64% to 100%.The total acquisition cost was $83 million for the properties thatinclude an estimated 172 Bcf of proved gas reserves and relatedfacilities.

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