Bill Barrett Corporation Sells West Tavaputs Gas Field
Last week, the Bill Barrett Corporation sold its natural gas properties in the West Tavaputs Plateau of eastern Utah for more than 300-million dollars.
The deal was announced last week, but the buyer wasn’t disclosed. Filings with the Securities and Exchange Commission, though, identify the buyer as the EnerVest Corporation, based in Houston. The transaction is valued at 371-million dollars. EnerVest has drilling operations in Colorado and New Mexico as well as several other states in the South and Midwest.
The Bill Barrett Corporation’s news release said the sale was part of a strategy to finance its capital program through asset sales, and to divest projects where it’s not actively investing. The company will retain its oil drilling operations in the Uintah Basin.
Bill Barrett has been an active partner in initiatives for environmental protection in its oil and gas operations, including agreements to help protect Desolation Canyon and Nine-Mile Canyon.