Bill Barrett Third Quarter Earnings Call

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Earnings Analysis:

Author: Albena Toncheva
123jump.com
Last Update: 8:01 AM EST December 08 2006

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The natural gas and oil exploration firm reported revenue of $104.4 million over $71.2 million in the prior year period. The quarterly production grew 25% over the prior year to 12.6 billion cubic feet equivalent. This was achieved despite curtailing production in West Tavaputs from mid-May to mid-August due to lack of processing for high due point gas. Bill Barrett expects the production for 2006 to range between 51 billion and 53 billion cubic feet equivalent, up 29% to 35% over 2005.

On this Hook area, have you brought in a partner there or is that still something in process?

The firm has not brought in a partner there. The company is in the process of looking at that potentially and there are a number of things that the firm is finishing up if you will before it puts a drill rig in that area.

You mentioned that the total CapEx was 313 for the first three quarters, including the CH4 acquisition. Excluding the acquisitions and some of the joint exploration proceeds, what that number is?

For the whole year, the firm expects its organic CapEx to be about $395 million to $400.

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