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Earnings Analysis: 
Bill Barrett Fourth Quarter Earnings Call
Author: 123jump.com Staff
123jump.com
Last Update: 4:11 PM EDT April 23 2007


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Oil and gas production for fiscal 2006 was 52.1 Bcfe compared to 39.4 Bcfe in fiscal 2005. Including hedging effect, the company''s average realized sales price for oil and gas production in 2006 was $6.60 per Mcfe vs. an average realized sales price in 2005 of $7.21 per Mcfe. In the quarter, production was 14.2 Bcfe, a 13% sequential increase and a 15% increase over a year ago. The quarterly realized prices were $6.21 per Mcfe compared to $8.89 per Mcfe in the fourth quarter of 2005.

 
Is there any task plan for this Meeteetse coal that you come across in the Big Horn?

Yes. The Meeteetse coal is in the Wind River Basin but the company is not being open about it at this point. We have not drilled it yet, but there is data in the area that suggests satisfactory gas content in it. Could be a decent little CBM employee in the area. We will probably drill that well in the summer of ‘07, and once we do will talk more about it.

About potential acquisition, CH4 bought last year. What area would you particularly focus on in terms of acreage additions or a real M&A deal?

Given the company’s inventory in the assets, it doesn’t necessarily need to do an acquisition over the next 2, 3 or 4 years. It is, however, always on the lookout for opportunities that present themselves. Looking at other potential M&A opportunities, the company always looks at things in the Rockies and continues to build its position as it relates to the current assets in its portfolio.
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