-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SqjVXwxEYRQFhoQbnNyegMCod9GH9qEwBvUVoC7nTV0MtYrkrYNmKJXz1doypgoo 4vGLKKrtzzMMNBvP3TaJkA== 0001104659-05-047066.txt : 20051004 0001104659-05-047066.hdr.sgml : 20051004 20051004135347 ACCESSION NUMBER: 0001104659-05-047066 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051004 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051004 DATE AS OF CHANGE: 20051004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN GAS RESOURCES INC CENTRAL INDEX KEY: 0000856716 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 841127613 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10389 FILM NUMBER: 051120742 BUSINESS ADDRESS: STREET 1: 1099 18TH STREET, SUITE 1200 CITY: DENVER STATE: CO ZIP: 80202-1955 BUSINESS PHONE: 303 452 5603 MAIL ADDRESS: STREET 1: 1099 18TH STREET, SUITE 1200 CITY: DENVER STATE: CO ZIP: 80202-1955 8-K 1 a05-17184_18k.htm 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC  20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 


 

Date of report (Date of earliest event reported):  October 4, 2005

 

WESTERN GAS RESOURCES, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

1-10389

 

84-1127613

(State of Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

 

 

 

 

1099 18th Street, Suite 1200, Denver, Colorado

 

80202

(Address of Principal Executive Offices)

 

(Zip Code)

 

(303) 452-5603

(Registrant’s telephone number, including area code)

 

N.A.

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 7.01.  Regulation FD Disclosure.

 

On October 4, 2005, Western Gas Resources, Inc. issued a press release announcing an operational update.  The press release is furnished as Exhibit 99.1 to this Form 8-K.

 

Item 9.01.  Financial Statements and Exhibits.

 

(a)                                  Exhibits.

 

A list of exhibits filed herewith is contained on the Exhibit Index which immediately precedes such exhibits and is incorporated herein by reference.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

WESTERN GAS RESOURCES, INC.

 

 

(Registrant)

 

 

 

 

 

Date:   October 4, 2005

By:

       /s/ William J. Krysiak

 

 

 

Name: William J. Krysiak

 

 

Title: Executive Vice President and
Chief Financial Officer

 

3



 

EXHIBIT INDEX

 

Exhibit Number

 

Description

 

 

 

99.1

 

Press release, dated October 4, 2005, announcing an operational update for Western Gas Resources, Inc.

 

4


EX-99.1 2 a05-17184_1ex99d1.htm EX-99.1

Exhibit 99.1

 

WESTERN GAS RESOURCES, INC.

PROVIDES OPERATIONAL UPDATE

 

DENVER, October 4, 2005.  Western Gas Resources, Inc. (“Western” or the “Company”) (NYSE:WGR) today announced an operational update.

 

Production Operations.

Powder River Basin Coal Bed Methane (“CBM”).  The Company is on track to complete its planned 850-well drilling program for 2005 and may drill up to 875 wells.  Western and its co-developer have received permits covering all of the Company’s 2005 federal drilling program and have also received permits for over 400 federal wells in their 2006 drilling program.  Additional applications for the 2006 federal drilling program have been submitted to the Bureau of Land Management.  The Company and its co-developer have also received water discharge permits for approximately 72 percent of its 2005 drilling program.  Applications for water discharge permits for the remainder of the 2005 drilling program have been reviewed by the Wyoming Department of Environmental Quality (“DEQ”) and approval is anticipated within the next few weeks.  Most of the remaining permits have been modified to utilize more treatment options.  Western will continue to examine a number of different water handling options for future permits and utilize the one that best fits the various conditions of water quantity and quality in each specific area.  Net Powder River Basin CBM production averaged approximately 118 million cubic feet per day (“MMcfd”) in August 2005.

 

In the Big George area, industry-wide coal bed methane production was over 260 MMcfd in July 2005.  Gross production for Western from eight pilots in the Big George coal fairway was 134 MMcfd as of September 28, 2005, a 24 percent increase from June 30, 2005 and 109 percent increase from a year ago.  Two new Big George pilots began producing gas during the third quarter.  Savageton, which is approximately 10 miles north of the Company’s existing All Night Creek development in the shallower, thinner Big George, required minimal dewatering time and is producing approximately 4.4 MMcfd from 35 wells.  Powder Valley, which is near an existing development area in the deeper thicker area of the Big George, began producing gas after four months of dewatering and is producing approximately 3.1 MMcfd, primarily from two of the wells.  Six additional Big George pilots in various stages of development and dewatering should begin producing gas over the next 6 to 18 months.  Additional pilots are in early development stages.

 

Greater Green River Basin.  To date in 2005, the Company has participated in or is in the process of drilling 70 gross wells on the Pinedale Anticline and expects to participate in 85 to 90 wells in 2005.  In August 2005, one of Western’s partners received approval from the Wyoming Oil and Gas Conservation Commission for 10-acre increased density in the northern portion of the Anticline.  Western’s partner also reached total depth of 19,520 feet on the Stewart Point 15-29, a Rock Springs and Blair formations test on the Anticline.  Western has an approximate seven percent working interest in the well.  Net production in the Pinedale Anticline, Jonah Field and Sand Wash Basin averaged approximately 46 million cubic feet equivalent per day (“MMcfed”) in August 2005.

 

Total net production for the Company averaged approximately 178 MMcfed in August 2005.

 



 

Midstream operations.

The Company’s gathering and processing operations have continued to benefit from strong commodity prices and increasing throughput volumes.  Total gathering throughput volumes averaged 1.48 billion cubic feet per day (Bcfd) in August 2005.

 

CEO Comments

Peter Dea, CEO and President commented, “To date our production and drilling are on track to meet or slightly exceed our earlier stated goals for the year.  We are in better shape today than we have been in years in obtaining drilling and water discharge permits in the Powder River Basin CBM play.  Our permits for drilling on federal acreage in 2005 are complete and we are making significant progress with our 2006 program.  We are working actively with the Wyoming DEQ and expect to have the necessary water discharge permits to complete our 2005 drilling program.  We are also very excited with the ongoing performance of the Big George coal fairway development, where Western and our co-developer are producing over 134 MMcfd.  Drilling in the Pinedale Anticline is also proceeding well.  Our expected participation in 85 to 90 wells in 2005 exceeds our original estimate of 80 wells.  Our gathering and processing operations are also doing very well and we continue to see growth in many of our operating areas.”

 

Company Description.  Western is an independent natural gas explorer, producer, gatherer, processor, transporter and energy marketer.  The Company’s producing properties are located primarily in Wyoming, including the developing Powder River Basin coal bed methane play, where Western is a leading acreage holder and producer, and the rapidly growing Pinedale Anticline.  The Company also owns and operates natural gas gathering, processing and treating facilities in major gas-producing basins in the Rocky Mountain, Mid-Continent and West Texas regions of the United States.  For additional Company information, visit Western’s web site at www.westerngas.com.

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding natural gas and NGL production, drilling plans, permitting and midstream operating performance.  Although the Company believes that its expectations are based on reasonable assumptions, Western can give no assurances that its projections are accurate.  These statements are subject to a number of risks and uncertainties, which may cause actual results to differ materially.  These risks and uncertainties include, among other things, the timeliness of federal and state permitting activity, well performance, expenditure of capital, changes in natural gas and NGL prices, government regulation or action, geological risk, environmental risk, weather, rig availability, transportation capacity and other factors as discussed in the Company’s 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission.

 

Investor Contact:

 

Ron Wirth, Director of Investor Relations

 

 

(800) 933-5603 or (303) 252-6090

 

 

e-mail: rwirth@westerngas.com

 

2


-----END PRIVACY-ENHANCED MESSAGE-----