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Bill Barrett Cuts 2016 CapEx 50%; Production To Fall
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Bill Barrett Corporation reported fourth quarter and year-end 2015 results and provides 2016 operating guidance.
Quick Read Production (Actual) (YE-2015) : 6.6 MMboe Production (Guidance) (YE-2016) : 5.8-6.2 MMboe Capital Expenditure (Actual ) (FY-2015) : $287 Million Capital Expenditure (Guidance)(FY-2016) : $100 - $150 Million Value of Hedge Book : ~$136 Million Hedging UpdateFor 2016, 6,772 barrels per day of oil is hedged at an average WTI price of $80.47 per barrel and 5,000 MMBtu/d of natural gas is hedged at an average NWPL price of $4.10 per MMBtu. The current value of the hedge position is approximately $136 million, as of February 26, 2016.
Highlights: 2015 production sales volumes of 6.6 million barrels of oil equivalent, exceeded high-end of guidance and was 16% above the…- ✓ Full news archive — U.S., Canada & international coverage
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