Gulf Oil and Gas accountACCOUNT

Bill Barrett Corp Announces Uinta Basin Asset Sale

Source: www.gulfoilandgas.com 11/20/2017, Location: North America

Share |
Bill Barrett Corp has entered into an agreement with unaffiliated third parties to sell its remaining non-core assets located in the Uinta Basin for cash proceeds of approx. $110 million. The transaction is expected to close on or before December 31, 2017, and is subject to customary closing conditions and adjustments. The assets produced approx. 2,300 Boe/d (91% oil) during the third quarter of 2017 and had estimated proved reserves of 12 million barrels of oil equivalent (100% proved developed) as of December 31, 2016.

Chief Executive Officer and President Scot Woodall commented: 'This sale transitions us into a pure-play Denver-Julesburg ('DJ') Basin company, further streamlines our operational cost structure and strengthens our balance sheet and liquidity. We have a top-tier oil position in the DJ Basin with our 2017 capital program underpinning a strong growth profile in 2018 as we expect to generate greater than 30% growth from our Northeast Wattenberg assets. We anticipate that our 2018 capital program will be fully funded as we exit 2017 with a significant cash position and an improved leverage ratio.'

Tudor, Pickering, Holt & Co. advised the Company with respect to the Uinta Basin divestiture process.

Acquisitions and Divestitures News in United States >>

United Kingdom >>  1/16/2018 - United Oil & Gas, the London Stock Exchange listed oil and gas exploration and development company, has announced an agreement to farm-in to the Coral...
Canada >>  1/15/2018 - Vermilion Energy has entered into an arrangement agreement to acquire a private southeast Saskatchewan producer ('Privateco') for total cash considera...

Indonesia >>  1/15/2018 - Announcing a trading and operations update on January 11,Premier Oil said it had signed a sale and purchase agreement withBatavia Oil on 19 December t...
Netherlands Antilles >>  1/15/2018 - Royal Dutch Shell agreed to acquire a stake in a U.S. solar company, 12 years after exiting the sector, in the latest in a series of deals to grow bey...

United Kingdom >>  1/15/2018 - INEOS has confirmed that it is launching six new oil and gas businesses. The announcement follows the completion of a number of North Sea Oil and gas ...
United States >>  1/15/2018 - Vitol US Holding Co. (“Vitol”) has agreed to acquire Noble Americas Corporation (“Noble Americas”) subject to certain conditions precedent. A copy of ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.