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One-Page Deal Sheet

Bill Barrett and PE-backed Fifth Creek Merge

Not Disclosed Not Disclosed
AnnouncedDec 5, 2017
TypeCorporate
LocationNiobrara - DJ Basin
Announced Date
December 05,2017
Close Date
March 19,2018
Transaction Type
Corporate
Enterprise Value (EV)($MM)
649




Snapshot
Asset/Basin:
{"DJ Basin"}
TargetZones:
{"Niobrara benches",
Net Acres
81,000
% Oil:
88 % oil

Proved Reserves
168 MMboe

Source Documents:
   Source Link
Location
Region
Rockies - DJ Basin

Country
United States

State
Colorado

County
Weld ,Laramie

Play
Niobrara - DJ Basin


Production & Reserves
Production
2,900 Boe/d

Production Mix
72 % Oil

Reserves
168 MMboe (1P)


Calculated Metrics( EV/Category)
$/ Flowing
223,793

$/ Acre
8,012

$/Location
226,527

Transaction Details: 

Bill Barrett and NGP-backed Fifth Creek Energy have agreed to merge.  

Under the terms of the transaction, Bill Barrett and Fifth Creek will each become subsidiaries of a newly formed holding company, which will become the publicly listed and traded holding company for the combined Bill Barrett and Fifth Creek.

Bill Barrett Portfolio:

  • Operating Area : DJ Basin (post-sale of Uinta oil asset)
  • Land : 71,900 net acres (3Q17)
  • Production (3q17) : 20,800 boe/d (64% oil)
  • Reserves : 49.8 MMboe (post sale of Uinta oil asset)

Fifth Creek Energy Portfolio:

  • Operating Area : DJ Basin (northern)
  • Land : 81,000 net Acres
  • Production : 2,900 boe/d (88% oil)
  • 1P Reserves : 173 MMboe

Combined Company:

 

2018 Outlook:

The combined company plan to operate three drilling rigs on the combined acreage with anticipated 2018 production of 11-12 MMBoe (~65% oil) and capital expenditures of $500-$600 million. Approximately 150 gross wells are planned for 2018.

Advisors

Tudor, Pickering, Holt & Co. acted as financial advisor to Bill Barrett and Wachtell, Lipton, Rosen & Katz acted as legal advisor to Bill Barrett.

Credit Suisse acted as financial advisor to Fifth Creek and Vinson & Elkins LLP acted as legal advisor to Fifth Creek.

 

Rockies - DJ Basin Deal Activity In Last 12 Months


Other Rockies - DJ Basin Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Dec-18-2025 - - Click here Colorado  E&P
Nov-03-2025 - - Click here Texas  E&P
Jan-11-2024 - - Click here Colorado  E&P
Sep-06-2022 - - Click here   E&P
Feb-28-2022 - - Click here Colorado  E&P

Price History


Date Deal Headline Price$/acre
Dec-18-2025 JAPEX Secures First U.S. Operated Position in $1.26B DJ Basin Acquisition of Verdad Resources - -
Jan-11-2024 Prairie Operating Bolt-On DJ Basin Assets From Nickel Road - -
Feb-28-2022 PDC Acquires DJ Basin E&P Great Western in $1.3B Deal - -