Jaggers resigns from Bill Barrett to lead recapitalized Ute Energy

DENVER – Joe Jaggers, COO and president of Denver-based Bill Barrett Corp. (NYSE: BBG) has resigned to become the president and CEO of Ute Energy LLC, a recently recapitalized oil and gas company.

Ute Energy
Ute Energy is jointly owned by the Ute Indian Tribe and affiliates of Quantum Energy Partners. Formed in 2005, the company is focused on oil and gas exploration and development, midstream and other facilities in Utah’s Uinta Basin.

Ute Energy has over 400,000 acres of leased lands, nine active drilling programs, and a proven developed asset base with over 6,300 prospective locations.

On his departure, Jaggers stated, "This was an extremely difficult decision to make, but an opportunity to be the chief executive officer of a recently recapitalized company and to work with my sons, who are also in the oil and gas business, was too hard to pass up. I have thoroughly enjoyed my time working with the exceptional employees, management and Board of Bill Barrett Corporation." 

Bill Barrett managment
R. Scot Woodall, currently executive vice president - operations, will assume the role of COO, and chairman of the board and CEO Fred Barrett will assume the role of president in addition to his other duties. Jaggers will remain an employee of the company through July 30, 2010 to assist in transitional matters.

Woodall has 26 years of experience in the oil and gas industry. He joined Bill Barrett in 2007 as senior vice president of operations. Prior to that, he served in senior roles at Forest Oil Corp. from 2000 to 2007.

Barrett continued, "Joe Jaggers was a great help to our Company, achieving tremendous growth during a difficult economic environment. His leadership and structuring of our operations team leave us well-positioned for the future. We all wish Joe well with his new venture and look forward to working with him as we continue our partnership with Ute Energy to responsibly develop Ute Tribe mineral resources."

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