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Bill Barrett, who had not lost his love for geology, was won over by his sons' enthusiasm and agreed to serve as CEO and chairman of the new venture, which traded on his sterling reputation as an oil finder by adopting the name Bill Barrett Corporation. Moreover, the company posted total revenues for the year of nearly $170 million. (MRKR), (ORN), (HLX), (TXMD), 4 Penny Stocks With Unusual Move This Week (ARAY, CREX, ONCY, WKHS), 4 Hot Penny Stocks To Watch This Week (LXRX),(F), (RTIX), (BTG), 3 Top Biotech Penny stocks to Consider in May (AGEN), (DVAX), (VSTM). 2004: The company goes public. In 2003 the company recorded operating revenues of $75.3 million, resulting in a net loss on the year of approximately $500,000, overall an excellent performance for a start-up venture. U.S.A. Its outstanding shares are at 60,209,051, while authorized shares at 400,000,000. International Association of Better Business Bureaus. [4] Bill Barrett Corporation went public in December 2004. Also, many businesses are closed, suspended, or not operating as usual, and are unable to respond to complaints and other requests. In 2003 the company recorded operating revenues of $75.3 million, resulting in a net loss on the year of approximately $500,000, overall an excellent performance for a start-up venture. "Bill Barrett Corporation The Coastal Corporation Although it lost $5.3 million in 2004, Barrett had increased its exploration expenses from $6.1 million in 2003 to $36.2 million in 2004, an investment that resulted in a sizable improvement in discretionary cash flow and helped to position the company for long-term growth. Our largest development programs are located in Colorado, Utah and Wyoming. Public C…, One Post Oak Central Barrett left El Paso for Pan-American Petroleum Corp. in 1963, and then four years later became chief geologist for Wolf Exploration Co., where he made his reputation as an exceptional "oil finder." Further Reading BBB remains operational and focused on serving our business community. In October 2001, Fred and Terry Barrett, both trained geologists, approached their 73-year-old father and urged him to join them, along with a number of like-minded Barrett Resources employees, to launch a new Barrett energy company based in Denver. With Goldman, Sachs & Co. acting as the lead underwriter and the involvement of JP Morgan, Lehman Brothers Inc., Credit Suisse First Boston LLC, Morgan Stanley & Co. Encyclopedia.com. BBB Business Profiles may not be reproduced for sales or promotional purposes. Be the first to review! Then, copy and paste the text into your bibliography or works cited list. Barrett also wasted little time in its effort to acquire desirable assets. (504) 582-4000 The company also drilled 285 wells during the year, experiencing an impressive success rate in excess of 95 percent. Although the asking price was high, given the young company's asset value and project cash flow, investors lined up to become involved in the offering, which was reportedly oversubscribed two or three times. . Although it lost $5.3 million in 2004, Barrett had increased its exploration expenses from $6.1 million in 2003 to $36.2 million in 2004, an investment that resulted in a sizable improvement in discretionary cash flow and helped to position the company for long-term growth. In 1994 Barrett Resources drilled a discovery well that led to the discovery of the Cave Gulch Field, one of the largest discoveries in the Rockies in many years. Public Company The company also drilled 285 wells during the year, experiencing an impressive success rate in excess of 95 percent. The Denver, Colorado-based company is headed by legendary wildcatter William J. Barrett, lured out of retirement by his sons. Although Shell upped its offer for Barrett Resources, Williams offered more, nearly $2.8 billion in cash and stock, driving Shell from the field. 17 Oct. 2020 . As the company established itself, it increased its ownership position to 25 percent, until finally it was strong enough to own projects in their entirety. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Copyright © 2020 | MH Magazine WordPress Theme by MH Themes. With Goldman, Sachs & Co. acting as the lead underwriter and the involvement of JP Morgan, Lehman Brothers Inc., Credit Suisse First Boston LLC, Morgan Stanley & Co. Telephone: (918) 661-6600 He then went to work as a stratigrapher, studying rock strata for El Paso Natural Gas, thereby beginning his long association with Rocky Mountain oil and gas exploration, due to El Paso's discovery of the Desert Springs Field in the Green River Basin area of southwestern Wyoming. Our assets are located solely in the resource-rich Rocky Mountain region with active exploration and development properties located throughout the area. Telephone: (713) 877-1400 In March 2002 the company paid $73 million for gas properties in Wyoming's Wind River Basin. Bill Barrett Corporation is a Texas Foreign For-Profit Corporation filed on February 27, 2003. All told, Barrett's portfolio includes more than 450 producing wells and 820,000 net undeveloped acres in nine oil and gas basins in the Rocky Mountains. In 1969 he joined forces with Chuck Shear to form BNC Exploration (BNC referring to "Bill 'n Chuck"), for which he served as vice-president of exploration. Its core business is natural gas and oil exploration and development in the Rocky Mountains region of the United States. By the end of the year the company's proved reserves grew to 204 Bcfe. "Bill" Barrett founded the company in January 2002 after his previous company, Barrett Resources, was acquired by the Williams Companies in August 2001. Telephone: (713) 296-6000 This conservative approach to risk management served the company well during the oil and gas crash of the mid-1980s, allowing Barrett Resources to survive while many other energy companies fell by the wayside. At the same time, he was a disciplined businessman who refused to take on debt, unlike many competitors who Exxon Mobil Corporation (NYSE:XOM) Is Climbing Today, Following The Release That Demonstrates Resumed Drilling at Point Thomson. Bill Barrett Corporation went public in December 2004. 71. William E. "Bill" Barrett (born February 9, 1929) is a Republican politician from Nebraska who served five terms in the United States House of Representatives from 1991 to 2001 as the congressman for Nebraska's third congressional district. Due to an increase in the company's production activity, as well as a rise in oil and natural gas prices, Barrett's balance sheet showed a marked improvement over the previous year. International Directory of Company Histories. Coastal Tower Our largest development programs are located in Colorado, Utah and Wyoming. Fred Barrett has stepped down as chairman, CEO and president of Bill Barrett Corp. and has left the board, the company announced Monday. Bill Barrett Corporation is an oil and natural gas exploration and development company. Again, the Bill Barrett name carried great weight with Wall Street investors, who were well familiar with his career and impressed with his experienced team. . Notable Stocks Roundup: Intel (NASDAQ:INTC), Cisco Systems, (NASDAQ:CSCO), Petroleo Brasileiro SA – Petrobras (NYSE:PBR), BREAKING NEWS: Hutchinson Technology Incorporated (NASDAQ:HTCH), Reports Fourth Quarter Results, Evergreen Stocks: Alphabet (NASDAQ:GOOG), Facebook (NASDAQ:FB), Amazon.com, (NASDAQ:AMZN), Netflix, (NASDAQ:NFLX). Along with nine brothers and sisters, Bill Barrett grew up on a Kansas farm, and then in the 1950s enrolled at Kansas State University. Locke, Tom, "Bill Barrett Corp. Expected to Go Public," Denver Business Journal, April 16, 2004, p. A3. The company he built now became a takeover target for a major oil company, Royal Dutch/Shell Group, which in March 2001 made an unsolicited bid of $1.8 billion. 1201 Lake Robbins Dr. When Wolf elected to relocate from Denver to Houston, Barrett decided to stay in the Rockies while also shifting gears and becoming an entrepreneur. Check Reputation Score for William Barrett in Denver, CO - View Criminal & Court Records | Photos | Address, Emails & Phone Numbers | Personal Review | $200 - $249,999 Income & Net Worth Photo of Bill Barrett on page 1 by Eric Bakke, all other photos by Bill Barrett Corporation employees. FREE Background Report. BBB information and Business Profiles reflect the most current information available to us. Barrett closed 2002 with the $62 million purchase of properties in Wyoming's Powder River Basin, the Cooper Reservoir field, and oil properties in the Williston Basin of North Dakota. New Orleans, Louisiana 70112 Another important factor in the company's ability to raise money was fortuitous timing: In the early months of 2002, gas prices began increasing steadily and there was a perception in the marketplace that gas prices would continue to climb.

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