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Bill Barrett Sustains Oil-Focused Strategy in Q3; Hits 21.4 Bcfe

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Bill Barrett Sustains Oil-Focused Strategy in Q3; Hits 21.4 Bcfe

Bill Barrett Corporation reported third quarter 2013 results and announced operational updates.

Highlights: Oil, natural gas and natural gas liquids production of 21.4 billion cubic feet equivalent Oil production averaging 9,880 barrels per day, or 25% of production Average realized price of $6.81 per Mcfe, reflecting the benefit of growing oil volumes. Oil sales accounted for 56% of pre-hedge sales revenues Discretionary cash flow of $74.9 million, or $1.58 per diluted common share Two new delineation wells in the southern portion of the Company's Northeast Wattenberg, Denver-Julesburg Basin acreage position. Initial production rates from the two wells averaged more than 1,000 barrels of oil equivalent per day per well over a peak 24 hours and averaged approximately 500 Boe/d per well…
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