Bill Barrett Corporation has declared certain unaudited operating results for year-end 2010 and certain operating guidance for 2011. Highlights from 2010 include (unaudited): • Proved reserve growth of 16% to 1.1 Tcfe, or 263% production replacement • Production growth of 8% to 96.5 Bcfe • Total estimated capital expenditures of $473 million • Finding and development costs of approximately $1.84 per Mcfe for 2010 or $1.76 per Mcfe three-year average • Maintained strong balance sheet with zero drawn on $700 million line of credit

Chairman, Chief Executive Officer and President Fred Barrett commented, "2010 challenged our team with low natural gas prices, increasing service costs and a difficult regulatory environment and, once again, our Bill Barrett team executed on all fronts. We received the Record of Decision for full field development at West Tavaputs and continued to drive efficiencies at our key Piceance asset achieving significant savings in drilling time and operating costs. We initiated a continuous development program at Blacktail Ridge, where rates of return on oil development are nearing 50%, and we continued with an active exploration program that provides a balanced, large scale exposure to unconventional oil and gas prospects. We successfully grew production and reserves while aligning our capital program with cash flow and generated low finding and development costs preliminarily estimated at $1.84 per thousand cubic feet equivalent ("Mcfe"). Our balance sheet and debt metrics are in excellent condition, and we entered 2011 with zero drawn on our credit facility. And, as a result of our excellent execution, our stock delivered a 32% return to our shareholders in 2010.

"Going forward, we expect similar macro headwinds in 2011, and again we are well positioned to manage these challenges. Our capital expenditure budget for 2011 is $525 to $565 million, allowing our team to initiate full field, year-round development at West Tavaputs. Full-scale development at West Tavaputs requires up front capital expenditures for facilities and infrastructure necessary for growth over the coming years. We recognize this as a large, lower cost, lower risk asset and are eager to grow reserves and production, while realizing further efficiency gains. Our capital budget range of $40 million is more sizable than in the past to accommodate possible increased exploration activities that may occur based upon results throughout the year. Our production guidance at 103 to 107 billion cubic feet equivalent ("Bcfe") offers 7% to 11% growth, including nearly 40% growth in oil production. Currently, we have more than 50% of total production hedged at an average price of $7.58 per Mcfe and expect approximately 9% of 2011 production to be oil and approximately 10% of natural gas production to receive natural gas liquid ("NGL") related pricing. We are approaching 2011 to maximize the long-term value of our ample portfolio of opportunities and to remain flexible to increase our pace through the drillbit, acquisitions or exploration success."

2010 Year-end Estimated Reserves, Production and Capital Expenditures (The following information is unaudited and preliminary.) The increase in 2010 reserves primarily reflects continued development at Gibson Gulch and growth from our Blacktail Ridge development project.

Reserves (Bcfe) 2009 year-end estimated proved reserves: 964.8 2010 estimated production: (96.5) 2010 dispositions: (3.7) 2010 reserve additions, including acquisitions and revisions: 253.7 2010 year-end estimated proved reserves: 1,118.3 Production replacement ratio: 263%

Year-end estimated proved reserves of 1,118.3 Bcfe were 93% natural gas and 7% oil. Further, estimated proved reserves were 48% developed and 52% undeveloped. The present value of proved reserves was estimated at $1.5 billion, before the effect of income taxes, based on a Colorado Interstate Gas ("CIG") natural gas price of $3.95 per million British thermal units ("MMBtu"), a West Texas Intermediate ("WTI") oil price of $75.96 per barrel and a 10% per annum discount rate.

Production Estimated production for 2010 was 96.5 Bcfe and was comprised of 93% natural gas and 7% oil. Of natural gas production, approximately 88% was sold as dry gas and approximately 12% was processed, resulting in a benefit from higher prices related to natural gas liquids than dry gas. Estimated fourth quarter 2010 production was 24.2 Bcfe, up 6% from 22.8 Bcfe in the fourth quarter of 2009. Fourth quarter 2010 production was down sequentially from 25.5 Bcfe in the third quarter, primarily due to refinery and infrastructure downtime that affected production from the Company's Blacktail Ridge project as well as the delayed timing of certain well completions.

Capital Expenditures Preliminary, unaudited capital expenditures for 2010 were $473.3 million, slightly less than the most recent guidance range of $475 to $485 million.

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