Deals - Acquisition, Mergers, Divestitures
Bill Barrett Corp. Sheds Powder River, Piceance Assets
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Bill Barrett Corporation (NYSE: BBG) has signed a purchase and sale agreement with an affiliate of Vanguard Natural Resources, LLC for the sale of certain of the Company's non-core natural gas assets including all Wind River Basin natural gas producing properties, the Powder River Basin coal bed methane ("CBM") assets and a working interest in its Gibson Gulch-Piceance Basin development property. Total consideration, prior to customary closing adjustments, is $335.0 million and the transaction is expected to close by December 31, 2012.
Chairman, CEO and President Fred Barrett comments: "We are very pleased to execute this transaction with an affiliate of Vanguard Natural Resources, a step that is very closely aligned with our long-term objectives. I would like to emphasize two key…
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