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Bill Barrett Shrinks 2016 Capex as Costs Drop; Focuses on DJ Basin
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Bill Barrett Corporation reports second quarter of 2016 financial and operating results.
Key Points: Capital expenditures of $75-$100 million, reduced from $90-$135 million, reflecting lower well costs and lower infrastructure related and other non-drilling related capital. Drilling activity limited to the DJ Basin - no new Uinta wells drilled Highlights: Production sales volumes of 1.6 MMBoe (64% oil), representing an 18% sequential increase compared to the first quarter of 2016 and exceeded second quarter guidance by 14% Raised the low end of 2016 production guidance to 5.9-6.2 MMBoe despite the sale of non-core Uinta Basinassets Capital expenditures of $15.6 million compared to second quarter guidance of $30-$35 million 2016 planned capital expenditure range reduced to $75-$100…- ✓ Full news archive — U.S., Canada & international coverage
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