Finance & Investing | Rig Count | Fundraising | Capital Markets | Drilling Activity | Drilling Contractor
Niobrara E&P Company Cuts Rig Count In Half
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Bill Barrett Corporation announced the following corporate update.
Wattenberg - Future Plans DJ Basin Asset MapEnlarge Image
Reflecting much improved drilling efficiencies, the Company will accomplish its planned activities in the Northeast Wattenberg area for the remainder of the year with a one-rig drilling program. The Company will reduce its operated rig count from two rigs to one rig after completing current drilling operations on a multi-well extended reach lateral pad. This reduction is attributable to the continued improvement in XRL drilling and completion efficiencies in the DJ Basin that also results in realized cost savings. It is now anticipated that 2015 capital expenditures will approximate $315-$325 million, which is below the low-end of the previous guidance range of…
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