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Bill Barrett's DJ Basin XLR Wells Outperform; Edits Uinta Spacing
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Bill Barrett Corporation reports first quarter of 2015 results.
Highlights: Produced 1.6 MMBoe, exceeding estimates as a result of strong well performance in the DJ Basin Increased DJ Basin production 82% over the first quarter of 2014 and 28% sequentially Delivered excellent performance from extended reach lateral drilling program, demonstrating consistent execution with results from four new wells Generated $1.00 per share discretionary cash flow Reduced long-term debt by $25 million with redemption of convertible securities Reaffirmed and extended revolving credit facility at $375 millionChief Executive Officer and President Scot Woodall commented, "We have been saying over the last few months how encouraged we are with the preliminary results from our extended reach lateral (XRL)…
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