26 Oct 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $49.7 million and a net loss of $410.3 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2015debt financing● NeutralMajor
On Sept 23, 2015, Bill Barrett amended its bank credit agreement (fourth amendment): through March 31, 2018 the total debt limit is replaced by a cap on secured debt of 2.5x EBITDAX plus a minimum EBITDAX-to-interest ratio of 2.5x, and the borrowing base is reaffirmed at $375 million (down from $625 million before the Gibson Gulch sale), with nothing drawn. The company also announced a ~$27 million after-tax cash sale of non-core Uinta Basin properties (470 Boe/d, 17,632 net acres; expected to close by Nov 30, 2015), cut its DJ Basin rigs from two to one, lowered 2015 capex to $315-$325 million (from $320-$350 million), and raised 2015 production guidance to 6.3-6.5 MMBoe. It said it has issued no shares under the $100 million at-the-market program and does not currently expect to use it.
7 Aug 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $49.7 million and a net loss of $410.3 million for the period ended 2015-09-30.
6 Aug 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $49.7 million and a net loss of $410.3 million for the period ended 2015-09-30.
22 July 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $62.6 million and a net loss of $44.6 million for the period ended 2015-06-30.
9 July 2015securities registration● Neutral
BILL BARRETT CORP filed a prospectus supplement for an offering off its existing shelf.
25 June 2015securities registration● Neutral
BILL BARRETT CORP registered a securities offering with the SEC using its shelf eligibility.
10 June 2015material agreement● NeutralMajor
Bill Barrett set up an at-the-market stock program with Goldman, Sachs & Co. on June 10, 2015, letting it sell up to $100 million of common stock from time to time at market prices. Any sales would add shares and dilute existing holders; the filing does not say how much will be sold. The company also announced a 2015 capital budget of $320-$350 million, mainly for its Denver-Julesburg Basin properties.
10 June 2015securities registration● Neutral
BILL BARRETT CORP filed a prospectus supplement for an offering off its existing shelf.
12 May 2015agm notice● Neutral
BILL BARRETT CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
8 May 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $62.6 million and a net loss of $44.6 million for the period ended 2015-06-30.
8 May 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $62.6 million and a net loss of $44.6 million for the period ended 2015-06-30.
22 Apr 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $49.0 million and a net loss of $11.7 million for the period ended 2015-03-31.
9 Apr 2015debt financing● Neutral
On April 9, 2015, Bill Barrett signed a third amendment to its credit agreement that extends the cash-netting treatment of debt through periods ending on or before December 31, 2016 and moves the facility's maturity to April 9, 2020 (or earlier, 181 days before certain unsecured notes mature). It also cuts the letter of credit commitment to $50 million, with an option to raise it by up to $50 million. No amounts were outstanding and the company reported covenant compliance.
31 Mar 2015agm notice● Neutral
BILL BARRETT CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
31 Mar 2015agm notice● Neutral
BILL BARRETT CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
5 Mar 2015securities registration● Neutral
BILL BARRETT CORP amended an already-effective registration statement.
25 Feb 2015quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $49.0 million and a net loss of $11.7 million for the period ended 2015-03-31.
25 Feb 2015securities registration● Neutral
BILL BARRETT CORP amended its automatic shelf registration statement.
17 Feb 2015substantial holder notice● Neutral
JVL Advisors, LLC, John V. Lovoi, Navitas Fund, LP, Luxiver, LP, TJS Energy Fund, LP, Hephaestus Energy Fund, LP, Asklepios Energy Fund, LP, Panakeia Energy Fund, LP, URJA, LP, Children's Energy Fund, LP, LVPU, LP disclosed a new substantial BILL BARRETT CORP shareholding (11.44% of votes).
11 Feb 2015substantial holder notice● Neutral
The Vanguard Group reported a BILL BARRETT CORP shareholding of 3,209,373 shares (6.46% of votes) in a periodic institutional filing.
22 Jan 2015substantial holder notice● Neutral
Integrated Assets II LLC, Integrated Assets, Ltd, ICS Opportunities, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander disclosed a new substantial BILL BARRETT CORP shareholding (6.00% of votes).
9 Jan 2015substantial holder notice● Neutral
BlackRock, Inc reported a BILL BARRETT CORP shareholding of 6,668,418 shares (13.40% of votes) in a periodic institutional filing.
11 Dec 2014debt financing● Neutral
Bill Barrett amended its credit agreement with JPMorgan as agent (effective September 30, 2014), so that for test periods ending September 30, 2014, December 31, 2014 and March 31, 2015, cash above $10 million can be netted against debt when no loans are outstanding. The company reported no borrowings outstanding as of December 5, 2014 and compliance with its financial covenants, consistent with the asset-sale proceeds having cleared the revolver.
6 Nov 2014quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $135.3 million and a net loss of $34.6 million for the period ended 2014-09-30.
6 Nov 2014quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $135.3 million and a net loss of $34.6 million for the period ended 2014-09-30.
3 Oct 2014asset acquisition disposition● NeutralMajor
The sale of Bill Barrett's remaining Gibson Gulch position (12,000 net acres plus producing wells and related facilities) to Vanguard closed on September 30, 2014. Total consideration before adjustments was $583.2 million, including about $36.1 million for the assumed compressor lease obligation and $22.1 million for relief of an asset retirement obligation. This is higher than the $525 million cash price in the September 16 announcement, because it includes these assumed items; it ends the company's Gibson Gulch involvement that began with the 2012 partial sale.
17 Sept 2014material agreement● NeutralMajor
Bill Barrett signed agreements on September 16, 2014 to sell or swap most of its Powder River Basin acreage and sell its remaining Gibson Gulch position in the Piceance Basin, with total value of $757 million including about $568 million cash. Gibson Gulch (12,000 net acres) goes to Vanguard for $525 million plus assumed obligations of about $36 million (compressor lease) and $84 million (gas gathering and transport commitments); 17,497 Powder River net acres are sold for $42.9 million, and 29,015 acres are swapped to Anschutz for 7,856 net acres in Northeast Wattenberg valued at $69 million. The company says it expects net debt to fall from $1.1 billion to about $450 million pro forma, and may record non-cash charges of about $128 million for pipeline contracts and about $100 million of estimated losses on sales. It follows the earlier Vanguard sale of an initial Gibson Gulch stake and moves the company toward oil in the Denver Basin; it still plans to sell its remaining Powder River position (17,649 net acres).
1 Aug 2014quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $135.3 million and a net loss of $34.6 million for the period ended 2014-09-30.
31 July 2014quarterly activities report▼ Bad
BILL BARRETT CORP reported quarterly revenue of $145.0 million and a net loss of $26.6 million for the period ended 2014-06-30.