CEO Greg Boyce says Peabody Energy (BTU +1.4%) is cutting its 2012 capital expense budget to a...

|About: Peabody Energy Corp. (BTUUQ)|By:, SA News Editor

CEO Greg Boyce says Peabody Energy (BTU +1.4%) is cutting its 2012 capital expense budget to a $1B-$1.1B range vs. an earlier projection of $1B-$1.2B, and he expects 2013 capex to be at or below 2012 levels. An earlier report said BTU had deferred the $500M sale of its Wilkie Creek mine, which failed to attract a worthwhile bid.