Bill Barrett Corp. closes on $150 million DJ Basin acquisition

DENVER – Bill Barrett Corp. announced it has closed on a $150 million
Denver-Julesburg Basin acquisition that includes about 28,000 net acres
mostly just north of the Colorado-Wyoming border but with some property
in northeastern Weld County near Hereford.

The acquisition from an affiliate of Texas American Resources Co.
includes a preliminary estimate of 7 million barrels of oil equivalent
net proved reserves, or about 650 barrels of oil per day net production,
the company said.

The acquired properties currently have producing wells in the Wattenberg
Field with production in the Codell, Niobrara and J-Sands formations.

The company said it plans to initiate exploration and development of the areas with one-rig programs beginning in October.

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