Bill Barrett To Reduce 2013 Capital Expenditures by $400 Million

Bill Barrett Corporation (NYSE:BBG) announced its expected capital expenditures for 2013, which mark a decrease over 2012 of $400 billion. They expect to focus on two oil drilling projects.

As quoted in the  press release:

The production range of 83 to 87 Bcfe discussed above is based on two stream reporting of wellhead volumes of natural gas and oil/condensate production consistent with past reporting practices.  Effective January 1, 2013, the Company intends to report its production volumes on a three stream basis, which separately reports natural gas liquids (“NGLs”) extracted from the natural gas stream and sold as a separate product.  Based on three stream reporting, the production range is estimated at 86 to 90 Bcfe.  NGLs are expected to be 6% of total production volumes.

Bill Barrett’s  Chairman, President and CEO, Fred Barrett, said:

The past two years, our capital plans have concentrated on building exposure to two core oil development programs that provide our portfolio a better commodity balance and improved flexibility to drive growth from the highest return commodities.

To view the whole press release, click here. 

Get the Latest Gas Investing Stock Information

Get the latest information about companies associated with Gas Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

resource ebook2

Get the top stories on resource investing FREE!

Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.

Leave a Reply