Capital Markets | Capital Expenditure
Bill Barrett Corporation Reduces 2012 Capital Program
Print
|
Bill Barrett Corporation (the "Company") (NYSE: BBG) announced today a revised 2012 capital program for the Company as a result of lower natural gas prices. The Company has reduced its expected capital expenditure program for 2012 to a projected range of $800 million to $900 million, a reduction of nearly $100 million. Specifically, the Company is reducing natural gas activity by $120 million and increasing oil activity by $30 million. The increased oil directed expenditures include the addition of two rigs by year-end at the Uinta Oil Program. The revised capital program is expected to generate 2012 production growth of 14% to 18%, which is approximately 4 Bcfe less than the previous guidance estimate.
Chairman, Chief Executive Officer and President Fred Barrett commented: "The Company…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations