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Last $8.30 USD
Change Today -0.12 / -1.43%
Volume 1.7M
BBG On Other Exchanges
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As of 8:04 PM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

bill barrett corp (BBG) Key Developments

Bill Barrett Corp. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-23-2015 04:10 PM

Bill Barrett Corp. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-23-2015 04:10 PM. Venue: Roosevelt New Orleans Hotel, 130 Roosevelt Way, New Orleans, Louisiana, United States. Speakers: Scot Woodall, Chief Executive Officer and President.

Bill Barrett Corp. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter 2014; Provides Earnings and Production Guidance for First Quarter and Full Year of 2015; Plans to Drill 30-35 Wells in 2015

Bill Barrett Corp. reported unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total operating and other revenues of $66.902 million against $138.962 million a year ago. Operating loss was $30.726 million against income of $7.586 million a year ago. Net income before income taxes was $150.317 million against loss of $14.513 million a year ago. Net income was $89.065 million or $1.84 per basic and diluted share against net loss of $7.199 million or $0.15 per basic and diluted share a year ago. Net cash provided by operating activities was $30.415 million against $68.963 million a year ago. Additions to oil and gas properties, including acquisitions were $154.965 million against $109.882 million a year ago. Additions of furniture, equipment and other were $1.548 million against $0.748 million a year ago. Adjusted net loss was $11.259 million or $0.23 per diluted share against income of $5.188 million or $0.11 per diluted share a year ago. Discretionary cash flow was $38.861 million or $0.80 per diluted share, against 77.098 million or $1.62 per diluted share a year ago. For the year, the company reported operating and other revenues of $472.291 million against $568.093 million a year ago. Operating loss was $96.128 million against $179.977 million a year ago. Net income before income taxes was $32.99 million against loss of $311.366 million a year ago. Net income was $15.081 million or $0.31 per basic and diluted share against net loss of $192.733 million or $4.06 per basic and diluted share a year ago. Net cash provided by operating activities was $261.717 million against $265.265 million a year ago. Additions to oil and gas properties, including acquisitions were $580.943 million against $445.479 million a year ago. Additions of furniture, equipment and other were $3.658 million against $2.254 million a year ago. Adjusted net loss was $25.214 million or $0.52 per diluted share against adjusted net income of $20.468 million or $0.43 per diluted share a year ago. Discretionary cash flow was $231.552 million or $4.78 per diluted share compared to $281.33 million or $5.92 per diluted share a year ago. For the quarter, the company's combined production volumes were 1,401 MBoe against 3,327 MBoe a year ago. Oil production was 956 MBbls against 967 MBbls a year ago. Natural gas production was 1,794 MMcf against 10,723 MMcf a year ago. NGLs production was 146 MBbls against 573 MBbls a year ago. For the year, the company's combined production volumes were 9,112 MBoe against 14,475 MBoe a year ago. Oil production was 4,012 MBbls against 3,495 MBbls a year ago. Natural gas production was 21,744 MMcf against 52,685 MMcf a year ago. NGLs production was 1,476 MBbls against 2,199 MBbls a year ago. For the quarter, impairment expense was $12.062 million against $9.987 million a year ago. The company's 2015 strategy is to preserve the balance sheet and reduce capital activity in an environment where investment returns are affected by the low commodity price outlook. The Company is very well positioned for the current year having ample liquidity, approximately all of its 2015 production hedged at $90 per barrel oil and more than $4.00 per MMBtu natural gas, nominal drilling commitments and flexible service contracts. The company's 2015 plan is expected to result in approximately 10% production growth from core assets while cutting the capital budget by more than half. The plan does not require additional debt and focuses investment on high return development. The company planned to reduce its development activity with total capital expenditures between $240 million-$280 million. The company expects to drill and complete approximately 30-35 wells and participate in non-operated wells in the Northeast Wattenberg and Uinta Basin. The company intends to fund its capital expenditure program with cash flows from operations and from its available cash balance. Production is expected to be approximately 70% oil, 20% natural gas and 10% NGLs. First quarter of 2015 production is expected to be approximately 1.4 MMBoe. First quarter of 2015 capital expenditures are expected to be approximately $115 million due to maintaining four rigs through approximately one-half of the quarter.

Bill Barrett Corp., Q4 2014 Earnings Call, Feb 25, 2015

Bill Barrett Corp., Q4 2014 Earnings Call, Feb 25, 2015

Bill Barrett Corp. to Report Q4, 2014 Results on Feb 25, 2015

Bill Barrett Corp. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 25, 2015

Bill Barrett Corporation Reports Positive Results from Dj Basin XRLWells

Bill Barrett Corp. announced well results on its first 9 extended reach lateral ("XRL") wells drilled in the Northeast Wattenberg area of the Denver-Julesburg ("DJ") Basin. To date, the Company has drilled and completed 28 extended reach and mid-length lateral wells in the Northeast Wattenberg. The first 9 XRL wells to reach 30 days of sales had 30-day initial production ("IP") rates that averaged approximately 617 barrels of oil equivalent per day ("Boe/d")Â per well, based on 3 commodity streams including oil, natural gas and natural gas liquids. Results include six wells in the northern block and three wells in the southern block, with similar rates from both areas. All of the wells in the northern section were drilled into the Niobrara B formation and the wells in the southern section included wells in both the Niobrara B and C formations. The 9 wells were drilled to an average lateral length of 9,140 feet, of which six were completed with a hybrid sliding sleeve and plug-and-perf technology and three wells with all plug-and-perf technology. All of the wells were completed with 40 fracture stimulation stages, an average 8.4 million pounds of sand and placed on gas lift. The Company controlled the flowback rate on these wells to optimize recoveries, which the Company believes will enhance EURs and payback. Further, in more recently drilled wells, the Company has tested plug-and-perf technology, up to 12 million pounds of sand and up to 55 fracture stimulation stages. These variations are intended to evaluate how to optimize technology and further improve EURs. Current well costs, inclusive of the larger fracture stimulation stages are currently $7.5 million per well, representing a 10% reduction from 2014. The Company expects that cost to decline significantly throughout the year as it drives cost optimizations through its operations and as drilling and service costs continue to decline with lower oil prices. Average well results exclude one early well that has performed below expectations as a result of encountering several fault structures.

 

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BBG

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Valuation BBG Industry Range
Price/Earnings 27.0x
Price/Sales 0.9x
Price/Book 0.4x
Price/Cash Flow 1.4x
TEV/Sales NM Not Meaningful
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