Exploration & Production | Capital Markets | Capital Expenditure
Bill Barrett Details 2013 CapEx; Outlines Production Goals
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Bill Barrett Corporation has reported certain guidance metrics for its 2013 operating plan that demonstrate a significant reduction in capital expenditures compared with 2012 and drive continued growth in oil production.
Key components of the 2013 plan are a capital expenditure range of $475 to $525 million and a production range of 83 to 87 billion cubic feet equivalent (Bcfe), which is expected to be nearly 30% oil. The plan is expected to generate approximately 55% growth in oil production in 2013 versus 2012 (adjusting for the impact of lower oil production from the Piceance Basin following the sale of a working interest in the property that closed in the fourth quarter of 2012.) The Company stands committed to not increasing its total debt outstanding.
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