Bill Barrett, Fifth Creek Energy to merge
USA
DENVER, December 6, 2017 – Bill Barrett Corporation and Fifth Creek Energy have agreed to merge, the US independents announced late on Tuesday.
The deal, valued at USD 649 million, stipulates the creation of a holding company, of which the two firms will become subsidiaries, that will focus on the Denver-Julesburg Basin.
“We have been seeking opportunities to expand our core DJ Basin asset base with the right acquisition to ensure the best value creation opportunity for our stockholders,” said Scot Woodall, the CEO and president of Bill Barrett, in a statement. “This presents us with a unique opportunity to add a large, undeveloped acreage position at an attractive cost with the potential for decades of high-return drilling locations located in a rural area that is highly complementary to our legacy position.”
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