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BRIEF-Bill Barrett Announces Strategic Combination With Fifth Creek Energy
December 5, 2017 / 9:22 PM / 12 days ago

BRIEF-Bill Barrett Announces Strategic Combination With Fifth Creek Energy

Dec 5 (Reuters) - Bill Barrett Corp:

* BILL BARRETT CORPORATION ANNOUNCES STRATEGIC COMBINATION WITH FIFTH CREEK ENERGY; SIGNIFICANTLY INCREASING INVENTORY OF HIGHLY ECONOMIC XRL DRILLING LOCATIONS

* BILL BARRETT CORP - DEAL FOR TRANSACTION VALUED AT APPROXIMATELY $649 MILLION

* BILL BARRETT CORP - BILL BARRETT AND FIFTH CREEK WILL EACH BECOME SUBSIDIARIES OF A NEWLY FORMED HOLDING COMPANY

* BILL BARRETT CORP - INITIAL 2018 PLANS ARE TO OPERATE 3 DRILLING RIGS ON COMBINED ACREAGE WITH ANTICIPATED 2018 PRODUCTION OF 11-12 MMBOE

* BILL BARRETT CORP - BILL BARRETT‘S STOCKHOLDERS WILL EXCHANGE THEIR BILL BARRETT COMMON STOCK FOR NEW BBG COMMON STOCK ON A 1-FOR-1 BASIS

* BILL BARRETT CORP - FIFTH CREEK‘S CURRENT SOLE OWNER WILL RECEIVE 100 MILLION SHARES OF NEW BBG‘S COMMON STOCK

* BILL BARRETT CORP - BOARD OF DIRECTORS OF BOTH COMPANIES HAVE UNANIMOUSLY APPROVED TERMS OF AGREEMENT

* BILL BARRETT - DEAL ADDS ABOUT 81,000 NET ACRES, ABOUT 2,900 BOE/D OF PRODUCTION LOCATED IN HEREFORD FIELD AREA OF RURAL NORTHERN WELD COUNTY

* BILL BARRETT CORP - HAS AGREED TO A PRIVATELY NEGOTIATED EXCHANGE WITH A HOLDER OF COMPANY‘S 7.0% SENIOR NOTES DUE 2022

* BILL BARRETT CORP - SCOT WOODALL WILL CONTINUE TO SERVE AS CHIEF EXECUTIVE OFFICER AND PRESIDENT OF COMBINED COMPANY

* BILL BARRETT CORP - BOARD OF COMBINED COMPANY WILL BE COMPRISED OF ELEVEN MEMBERS, INCLUDING SIX MEMBERS OF BILL BARRETT‘S CURRENT BOARD Source text for Eikon: Further company coverage:

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