0001193125-15-141119.txt : 20150422 0001193125-15-141119.hdr.sgml : 20150422 20150422090236 ACCESSION NUMBER: 0001193125-15-141119 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20150421 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150422 DATE AS OF CHANGE: 20150422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BILL BARRETT CORP CENTRAL INDEX KEY: 0001172139 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 800000545 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32367 FILM NUMBER: 15784567 BUSINESS ADDRESS: STREET 1: 1099 18TH STREET STREET 2: SUITE 2300 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 303-293-9100 MAIL ADDRESS: STREET 1: 1099 18TH STREET STREET 2: SUITE 2300 CITY: DENVER STATE: CO ZIP: 80202 8-K 1 d913516d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2015 (April 21, 2015)

 

 

Bill Barrett Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-32367   80-0000545
(State or other jurisdiction of incorporation)   (Commission File No.)   (IRS Employer Identification No.)

 

1099 18th Street, Suite 2300

Denver, Colorado

  80202
(Address of principal executive office)   (Zip Code)

(303) 293-9100

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02. Results of Operations and Financial Condition

The information set forth in Item 7.01 below and in Exhibit 99.1 hereto is, to the extent required, incorporated herein by reference.

 

Item 7.01. Regulation FD Disclosure

Commodity Price and Derivative Update

On April 21, 2015, Bill Barrett Corporation (the “Company”) issued a press release containing an update on certain first quarter 2015 commodity price data. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Earnings Call Announcement

The Company’s press release also announced management plans to release the Company’s first quarter 2015 financial and operating results before the market opens on Friday, May 8, 2015 and to host a conference call to discuss results at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on Friday, May 8, 2015.

Please join the Company via the Internet for a webcast of the conference call:

 

Date/Time: Friday, May 8, 2015 at 11:00 a.m. Eastern time (9:00 a.m. Mountain time)
Webcast: Live and archived webcast available on the Company’s website at www.billbarrettcorp.com

Alternatively, you may join by telephone:

 

Call-in Number: (855) 760-8152 US/Canada
(631) 485-4979 International
Passcode: 24970194

A telephonic replay will be available approximately two hours after the call on Friday, May 8, 2015 through Friday, May 15, 2015. You may access this replay at:

 

Replay Number: (855) 859-2056 US/Canada
(404) 537-3406 International
Passcode: 24970194

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

All statements in the conference call, other than historical financial information, may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

In accordance with General Instruction B.2 of Form 8-K, the information in this report shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing.


Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit Number    Description of Exhibit
99.1    Press Release, dated April 21, 2015.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: April 22, 2015 BILL BARRETT CORPORATION
By:

/s/ Kenneth A. Wonstolen

Kenneth A. Wonstolen
Senior Vice President—General Counsel; and Secretary


EXHIBIT INDEX

 

Exhibit Number    Description of Exhibit
99.1    Press Release, dated April 21, 2015.
EX-99.1 2 d913516dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

 

Press Release

For immediate release

Company contact: Jennifer Martin, Vice President-Investor Relations, 303-312-8155

Bill Barrett Corporation Schedules First Quarter 2015 Financial and Operating Results

Release and Conference Call and Updates Commodity Price and Derivative Information

DENVER – April 21, 2015 – Bill Barrett Corporation (the “Company”) (NYSE: BBG) plans to release its first quarter 2015 financial and operating results before the market opens on Friday, May 8, 2015 and to host a conference call later that morning. The Company also provides the following update on certain first quarter of 2015 commodity price data:

Commodity Price and Derivative Update

For the first quarter of 2015, West Texas Intermediate (“WTI”) oil prices averaged $48.63 per barrel, Northwest Pipeline (“NWPL”) natural gas prices averaged $2.79 per MMBtu and NYMEX natural gas prices averaged $2.99 per MMBtu. The Company had derivative commodity swaps in place for the first quarter of 2015 for 11,190 barrels of oil per day tied to WTI pricing at $92.33 per barrel, 18,967 MMBtu of natural gas per day tied to NWPL regional pricing at $4.15 per MMBtu and no hedges in place for natural gas liquids (“NGLs”). Based on preliminary results, the Company expects to realize a cash commodity derivative gain of approximately $46.4 million in the first quarter due to positive derivative positions and estimates that it will record approximately $12.0 million in non-cash, unrealized commodity derivative loss. The Company expects its first quarter commodity price differentials to benchmark pricing before commodity derivative gains, related to delivery location and quality adjustments, to approximate: oil less $11.51 price per barrel versus WTI; and natural gas plus $0.21 price per thousand cubic feet versus NWPL. NGL sales are expected to average 18% of WTI price per barrel.

The Company has not changed its forward derivative positions since year-end 2014.

Conference Call Information - First Quarter of 2015 Financial and Operating Results

The Company will host a conference call to discuss results at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on Friday, May 8, 2015:

 

Date/Time: Friday, May 8, 2015 at 11:00 a.m. Eastern time (9:00 a.m. Mountain time)
Webcast: Live and archived webcast available on the Company’s website at www.billbarrettcorp.com

Alternatively, you may join by telephone:

 

Call-in Number: (855) 760-8152 US/Canada
(631) 485-4979 International
Passcode: 24970194

A telephonic replay will be available approximately two hours after the call on Friday, May 8, 2015 through Friday, May 15, 2015. You may access this replay at:

 

Replay Number: (855) 859-2056 US/Canada
(404) 537-3406 International
Passcode: 24970194


LOGO

 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to events, risks and uncertainties that may be outside the Company’s control. Actual results could differ materially from those discussed in the forward-looking statements. In particular, the Company is providing preliminary estimates of certain first quarter 2015 results.

These and other forward-looking statements in this release are based on management’s judgment as of this date and are subject to numerous risks and uncertainties. Actual results may vary significantly from those indicated in the forward-looking statements due to, among other things: oil, NGL and natural gas price volatility, including regional price differentials; changes in operational and capital plans; costs, availability and timing of build-out of third party facilities for gathering, processing, refining and transportation; delays or other impediments to drilling and completing wells arising from political or judicial developments at the local, state or federal level, including voter initiatives related to hydraulic fracturing; development drilling and testing results; the potential for production decline rates to be greater than expected; regulatory delays, including seasonal or other wildlife restrictions on federal lands; exploration risks such as drilling unsuccessful wells; higher than expected costs and expenses, including the availability and cost of services and materials; unexpected future capital expenditures; economic and competitive conditions; debt and equity market conditions, including the availability and costs of financing to fund the Company’s operations; the ability to obtain industry partners to jointly explore certain prospects, and the willingness and ability of those partners to meet capital obligations when requested; declines in the values of our oil and gas properties resulting in impairments; changes in estimates of proved reserves; compliance with environmental and other regulations; derivative and hedging activities; risks associated with operating in one major geographic area; the success of the Company’s risk management activities; title to properties; litigation; and environmental liabilities; and other factors discussed in the Company’s reports filed with the SEC.

ABOUT BILL BARRETT CORPORATION

Bill Barrett Corporation (NYSE: BBG), headquartered in Denver, Colorado, develops oil and natural gas in the Rocky Mountain region of the United States. Additional information about the Company may be found on its website www.billbarrettcorp.com.

 

2

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