BBG: Bill Barrett Corporation Instablogs

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Thursday, May 2, 5:05 PM Bill Barrett (BBG): Q1 EPS of -$0.70. Revenue of $138.3M misses by $4.21M. (PR) Comment! [Earnings, Breaking News]
Thursday, May 2, 12:10 AM Notable earnings after Thursday’s close: ACLS, ACTV, ADNC, AGNC, AIG, ALSK, AREX, ARNA, ATHN, BBG, BCOR, BERY, BRKR, CBI, CNQ, DNB, DOLE, DRIV, EGO, ELON, ELX, FBHS, FLR, FLT, GEOS, GHDX, GILD, GMED, GTY, HAIN, HI, HMA, HTGC, INVN, KOG, KRFT, LNKD, MKH, MTZ, MYL, NBIX, NFG, NILE, NSR, ONNN, OPEN, PKT, PWER, QLGC, SKUL, SPF, SPWR, SWN, TDC, THOR, TPX, TSYS, TTMI, WTW, WWWW, XL, ZAGG Comment! [Earnings]
Wednesday, May 1, 5:35 PM Notable earnings after Thursday’s close: ACLS, ACTV, ADNC, AGNC, AIG, ALSK, AREX, ARNA, ATHN, BBG, BCOR, BERY, BRKR, CBI, CNQ, DNB, DOLE, DRIV, EGO, ELON, ELX, FBHS, FLR, FLT, GEOS, GHDX, GILD, GMED, GTY, HAIN, HI, HMA, HTGC, INVN, KOG, KRFT, LNKD, MKH, MTZ, MYL, NBIX, NFG, NILE, NSR, ONNN, OPEN, PKT, PWER, QLGC, SKUL, SPF, SPWR, SWN, TDC, THOR, TPX, TSYS, TTMI, WTW, WWWW, XL, ZAGG Comment! [Earnings]
Friday, April 5, 10:32 AM Bill Barrett (BBG +5.2%) is upgraded to Buy from Neutral at Goldman Sachs, which believes the surplus in natural gas is over and prices should rise to the upper end of $4.00-$4.50 per MMBtu. Goldman says BBG is "in the early stages of an improving resource base trading at an attractive valuation likely to be supported by rising gas prices." COG +2.5%, SWN +2%. Comment! [Energy, Quick Ideas, On the Move]
Thursday, March 21, 2:39 PM With natural gas prices up 12% in March, some NGL plays have been left behind, Cowen's Nicholas Pope writes. He favors SM Energy (SM +0.3%), which trades at only 3.9x his 2014 estimate for EBITDA and has rallied a mere 2% this month. Range Resources (RRC +0.8%) is another NGL name but it also has significant dry gas exposure; dry-gas exposed names have rallied 17% this month. Comment! [Energy, Quick Ideas]
Monday, March 18, 2:14 PM Bill Barrett's (BBG +6.2%) move to allow some institutional shareholders to hold up to 20% of its stock, up from 15%, without trying to take over the company "adds large incremental buyers potentially," Wunderlich says. Also boosting shares is a presentation noting a new Colorado well result from a competitor; after investor skepticism, the news "makes [BBG] look a little more de-risked," SunTrust says. Comment! [Energy, On the Move]
Monday, March 4, 2:59 PM Marathon Oil (MRO) hasn’t said publicly it’s searching for a successor to current CEO Clarence Cazalot, but Bloomberg says December's surprise resignation of its no. 2 man has it joining the growing ranks of energy firms seeking new leaders, including OXY, CHK, ECA, BBG and KKR's Samson Resources. With a bidding war looming, it's a good time to be an out-of-work energy exec. Comment! [Energy]
Thursday, February 21, 5:05 PM Bill Barrett (BBG): Q4 EPS of $0.15 beats by $0.05. Revenue of $179.8M misses by $8.5M. Shares +0.4% AH. (PR) Comment! [Earnings, Breaking News]
Thursday, February 7, 3:23 PM Barclays analysts downplay the impact of the safety notice on offshore drillers ordering inspection of subsea equipment on some Gulf of Mexico drilling rigs for faulty bolts. "While this event poses additional downtime risk for these drillers, we believe the downtime would be limited and can be often mitigated through the course of normal operations," the firm says. 7 Comments [Energy]
Wednesday, February 6, 3:17 PM Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling regulators had directed offshore operators to halt work on some oil and gas wells in the Gulf of Mexico after discovering faulty bolts on equipment used to prevent blowouts. Replacing all bolts on blowout preventers could cost millions, Rowan (RDC) CEO Matt Ralls says. 12 Comments [Energy]
Thursday, January 31, 6:53 PM Bill Barrett (BBG) says its oil production rose 80% Y/Y and oil reserves rose 66% Y/Y in 2012, and projects 50%-55% oil production growth for 2013. Expects a drop in natural gas production due to the sale of natural gas assets and ceasing drilling at its natural gas programs. Comment! [Energy]
Monday, January 14, 3:59 PM Bill Barrett (BBG -5.4%) is cut to Hold from Buy with a $17 target price, down from $19, at Canaccord, due to a ~20% reduction in capital spending, ~10% higher per unit operating expense and a 250 bps increase in its equity discount rate to 17.5%. Also, BBG's Uinta play requires a $115-$120 NYMEX oil price to generate the same ~10% return as other major oil plays get at $100. Comment! [Energy, Quick Ideas, On the Move]
Tuesday, January 8, 8:57 AM Bill Barrett (BBG) appoints COO R. Scot Woodall as interim CEO following Fred Barrett's decision to step down as chairman, CEO, President and a director, effective immediately. Barrett stepped down after 11 years at the helm to spend time with family and on other activities, BBG says. Shares -1.9% premarket. Comment! [Energy, On the Move]
Friday, January 4, 10:17 AM Bill Barrett (BBG -6.3%) sets an initial 2013 capital expense budget of $475M-$525M vs. estimated $900M-$950M in 2012 and well below Street estimates, and a production range of 83-87 Bcfe. BBG plans to generate 55% Y/Y oil production growth in 2013, or ~30% of total equivalent production, and includes drilling ~150 gross operated wells. Comment! [Energy, On the Move]
Thursday, January 3, 5:54 PM Bill Barrett (BBG) is ramping up production at its West Tavaputs natural gas development program in Utah ahead of schedule to nearly 90% of levels prior to a November fire that caused extensive damage to a compressor station and prompted the company to cut its expected 2012 output by ~1.2B cu. ft. (also) Comment! [Energy]
Thursday, January 3, 10:07 AM Vanguard Natural Resources (VNR +0.5%) closes the purchase of natural gas and liquids properties from Bill Barrett (BBG +1.2%) for ~$328M, and says the acquisitions would immediately add to cash flow. The properties hold proved reserves equal to ~300B cu. ft. of gas and current production of ~65M cu. ft./day from 2,822 wells. Comment! [Energy, M&A]

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Bill Barrett Corporation