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Bill Barrett Cuts Niobrara XRL Well Costs 42%, Hits 6.6 MMBOE in 4Q
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Bill Barrett Corporation provided preliminary unaudited financial results for certain 2015 operating metrics and an operational summary, including an update on its extended reach lateral drilling program in the Northeast Wattenberg area of the Denver-Julesburg Basin.
Highlights: Full-year 2015 production sales volumes of 6.6 MMBoe, exceeds high end of guidance and was 16% above the mid-point of original guidance Full-year 2015 capital expenditures of $287 million, 9% below the low-end of guidance XRL completed well costs currently averaging $4.75 million, a 42% improvement over wells drilled in the fourth quarter of 2014 Entered 2016 with excellent liquidity of $478 million, consisting of $129 million of cash and an undrawn credit facility 2015 Preliminary Unaudited Operating ResultsOil…
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