Bill Barrett +3.3% as seven more strong wells help boost production

|About: Bill Barrett Corporation (BBG)|By:, SA News Editor

Bill Barrett (BBG +3.3%) opens to solid gains after an updated investor presentation reveals strong results for seven wells in the Niobrara, with initial production rates of 850 boe/day and 30-day rates of 437 boe/day, which are slightly ahead of the play average for BBG of 430 boe/day.

Wunderlich notes the presentation doesn't state which formations the wells targeted (though it looks like Niobrara B, C, and Codell targets), but the results provide added confidence in the assets and help boost the average extension well from 423 boe/day on a 30-day rate to 430 boe/day (Briefing.com).