Key Developments: Bill Barrett Corp (BBG)

BBG on New York Consolidated

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22 May 2015
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Latest Key Developments (Source: Significant Developments)

Bill Barrett Corp gives FY, Q1 2015 production guidance
Wednesday, 25 Feb 2015 08:00am EST 

Bill Barrett Corp:Expects FY 2015 production of 5.5-5.9 MMBoe.Production is expected to be about 70 pct. oil, 20 pct. natural gas and 10 pct. NGLs.Expects Q1 2015 production to be about 1.4 MMBoe.  Full Article

Bill Barrett announces settlement on Cottonwood Gulch Asset
Monday, 24 Nov 2014 07:00am EST 

Bill Barrett Corp:Enters into a settlement agreement with the Department of Interior and certain conservation organizations regarding its Cottonwood Gulch natural gas asset located on the Roan Plateau of Northwest Colorado.Under the settlement, the Department of Interior cancels about 36,000 gross acres of the 40,650 gross acres under lease and Bill Barrett Corporation receives a lease bonus refund of $42.3 mln net to the company.Funds are expected to be received in the first quarter of 2015.Company to retain a 90 pct interest in 4,650 gross acres, which it considers the most prospective leasehold acreage as it immediately offsets existing production and infrastructure.  Full Article

Bill Barrett Corp lowers FY 2014 production outlook
Thursday, 6 Nov 2014 07:02am EST 

Bill Barrett Corp:Expects FY 2014 production of 9.0 million-9.4 million Boe, decreased by 4 pct. at midpoint.  Full Article

Vanguard Natural announces closing of natural gas and liquids properties from Bill Barrett Corp
Wednesday, 1 Oct 2014 07:15am EDT 

Vanguard Natural Resources, LLC:Announces that on Sept. 30 it consummated the previously announced acquisition of natural gas and liquids assets in the Piceance Basin in Colorado from Bill Barrett Corporation for an adjusted purchase price of $508.7 million.Says the effective date of the acquisition is July 1.  Full Article

Bill Barrett Corp closes sale of Piceance Basin and Powder River Properties and acquisition of additional Acreage in Northeast Wattenberg
Tuesday, 30 Sep 2014 04:10pm EDT 

Bill Barrett Corp:Closes previously announced sale of company's remaining position in Gibson Gulch natural gas program in Piceance Basin.Company also announced that it closed final transaction of its previously announced sale of majority of its Powder River Basin acreage, which included an acreage exchange adding 7,856 net acres to its position in Northeast Wattenberg.Total value of transactions is $757 mln, including $568 mln in cash proceeds.Cash proceeds were preliminarily adjusted for customary closing adjustments and to respective closing dates, based on preliminary accounting data, for net cash proceeds of $531 mln.The effective date for sale/exchange of majority of Powder River Basin assets is April 1 and effective date for Gibson Gulch sale is July 1.Says transactions also included $69 mln estimated value for assets acquired in an exchange, $36 mln for assumption by purchaser of lease financing obligation and $84 mln in future commitments assumed by purchaser for natural gas firm gathering and transportation obligations.Cash proceeds from transactions were applied to repay company's outstanding balance on revolving credit facility of $280 mln with remainder retained for corporate purposes, including capital expenditures.Subsequent to these transactions, company's borrowing base was reduced to $375 mln.  Full Article

Bill Barrett Corp reaffirms FY 2014 production outlook
Tuesday, 30 Sep 2014 09:20am EDT 

Bill Barrett Corp:Expects FY 2014 total production of 9.4-9.8 mln barrels of oil equivalent (MMBoe).  Full Article

Bill Barrett Corp announces $757 mln total value divestiture of powder river and piceance basin properties and acquisition of additional acreage in the Northeast Wattenberg
Tuesday, 16 Sep 2014 07:33am EDT 

Bill Barrett Corp:Signs purchase and sale agreements with several undisclosed purchasers for the sale of the majority of Powder River Basin acreage and the Company's remaining position in the Gibson Gulch natural gas program in the Piceance Basin.Transactions include acqusition of 7,856 net acres and 390 barrels of oil equivalent per day (Boe/d) net production within the southern block of its operated Northeast Wattenberg area in exchange for acreage in the Powder River Basin.Total value of the transactions is $757 mln.Citigroup Global Markets, Inc. acted as financial advisor to the Company on the Gibson Gulch sale and BMO Capital Markets acted as financial advisor on the Powder River Basin transactions.  Full Article

Bill Barrett Corp lowers FY 2014 production outlook; gives Q3 2014 production outlook
Tuesday, 16 Sep 2014 07:32am EDT 

Bill Barrett Corp:Expects FY 2014 total production of 9.4-9.8 mln barrels of oil equivalent (MMBoe).This reduces previous guidance by about 1.4 MMBoe, about 10 pct oil, as a result of production attributable to sold assets.Expects FY 2014 exit rate production to be about 21 MBoe/d.Expects Q3 2014 total production to range between 2.6-2.7 MMBoe.  Full Article

Vanguard Natural to acquire Natural Gas and Liquids Properties from Bill Barrett Corp
Tuesday, 16 Sep 2014 07:15am EDT 

Vanguard Natural Resources LLC:Enters into a definitive agreement to acquire natural gas, oil and natural gas liquids assets in the Piceance Basin in Colorado for a purchase price of $525 mln from Bill Barrett Corporation.Effective date of the acquisition is July 1 and the Company anticipates closing this acquisition on or before Oct. 1.  Full Article

Bill Barrett Corp reaffirms FY 2014 production guidance
Thursday, 31 Jul 2014 04:31pm EDT 

Bill Barrett Corp:Reaffirms FY 2014 production of 11.0 million -12.2 million Boe.  Full Article

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