New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 2, 2013
17:31 EDTBBGBill Barrett closes sale of nat gas assets, updates activity at West Tavaputs
Bill Barrett announced that on December 31, 2012 it closed on its previously announced sale of natural gas assets to an affiliate of Vanguard Natural Resources. The sale included all its Wind River Basin natural gas producing properties, the Powder River Basin coal bed methane assets and a working interest in its Gibson Gulch-Piceance Basin development property. The total value of the transaction of $335M was preliminarily adjusted to the October 1, 2012 effective date and for other customary closing adjustments providing net proceeds to the company of $329M, which includes a $33.5M deposit received in November 2012. Proceeds from the transaction have been applied to pay off the $250M balance on the company's revolving credit facility as of year-end 2012. The remaining proceeds will be applied to the company's 2013 development capital. The company's borrowing base on its revolving credit facility was reduced by $75M to $825M based on preliminary year-end 2012 reserves, which exclude the properties sold to Vanguard. Unrelated to the closing, the company updates the status of repairs at its West Tavaputs natural gas development program following a previously announced fire at the Dry Canyon compressor station. Current net production from the area is approximately 78M cubic feet of natural gas equivalent per day, which is approximately 90% of the pre-fire rate. A bypass pipeline to redirect natural gas to the Interplanetary compressor station was completed and put in service on December 13, 2012. The company expects to complete pipeline repairs to direct additional production to its Sage Brush compressor station, expected to be ready in late January following further testing, which will modestly increase production from the current rate.
News For BBG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 14, 2014
10:01 EDTBBGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
08:39 EDTBBGBill Barrett upgraded to Buy from Accumulate at KLR Group
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use