DENVER, Nov. 20, 2012 /PRNewswire/ -- Bill Barrett Corporation (NYSE: BBG) reports today that there was a fire at the Dry Canyon compressor station located in its West Tavaputs gas field in the Uinta Basin of northeast Utah. The compressor station is located approximately 30 miles northeast of Price, Utah. The fire appears to be isolated to the compressor station. Preliminary reports are that two employees of the Company were injured in the fire and have been transported to University of Utah Hospital Burn Center. The condition of these employees is reported as being stable. The Bureau of Land Management ("BLM") has been notified and has representatives on location. Local fire departments have responded to the location and the fire is under control.
Based on the Company's initial assessment of the situation, it appears the Dry Canyon compressor station suffered extensive damage and gas production from the West Tavaputs field has been substantially shut-in. At the time of the incident, the Company's net production from the West Tavaputs field was approximately 88 million cubic feet of gas equivalent per day. The Company expects to transport a majority of its gas production through its other facilities in the area. Damage to the equipment at the compressor station is covered by the Company's property damage insurance, subject to applicable deductibles.
The Company will provide additional information, including the estimated timing of future production, as it becomes available.
FORWARD-LOOKING STATEMENTSThis press release contains forward-looking statements, including statements regarding the potential property damage and loss of production related to the aforementioned incident. These forward-looking statements are based on management's judgment at the time of issuing this report and include certain risks and uncertainties. Please refer to the Company's Annual Report on Form 10-K for the year-ended December 31, 2011 filed with the SEC, and other filings including our Current Reports on Form 8-K and Quarterly Reports on Form 10-Q, for a list of certain risk factors that may affect forward-looking statements. ABOUT BILL BARRETT CORPORATION Bill Barrett Corporation (NYSE: BBG), headquartered in Denver, Colorado, explores for and develops oil and natural gas in the Rocky Mountain region of the United States. Additional information about the Company may be found on its website www.billbarrettcorp.com. SOURCE Bill Barrett Corporation
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV