bill barrett corporation
highpoint resources was formed in 2018 as a combination of bill barrett corporation and fifth creek energy. the company trades on the new york stock exchange under the ticker hpr .
bill barrett indicated that despite his age he planned to continue serving as the company' s ceo for several more years. waiting in the wings to succeed him were sons fred barrett, president of the company, and terry barrett, vice - president .
locke, tom ,
bill barrett corp. expected to go public ,
denver business journal, april 16, 2004, p. a3 .
- - - - - - ,
bill barrett: wildcatter of the year ,
denver business journal, april 23, 1993, p. 3a .
bill barrett reported a net loss of $ 0. 79 per share for its fiscal fourth quarter, far worse than the $ 0. 13 per share loss that wall street had projected. (admittedly, wall street often couches predictions in terms of pro forma earnings, but even there, bill barrett says that its adjusted, pro forma loss was $ 0. 18 per share - - still a nickel below expectations .) for the year, bill barrett' s gaap (generally accepted accounting principles) loss was $ 3. 08 per share .
mr. barrett has served as senior vice president—geosciences since january 2013 and previously served as senior vice president - exploration from february 2010 until january 2013 and as senior vice president - rockies exploration from february 2009 until january 2010. he served as senior vice president—exploration, northern division from march 2006 through february 2009 and previously served as vice president - exploration, northern division from bill barrett’s inception in january 2002 through february 2006. mr. barrett had prior industry experience with barrett resources and its successor, the williams companies, as well as terred oil company. mr. barrett has a bachelor of science in geology from the university of colorado, boulder and a master of science in geology from kansas state university .
in particular, bill barrett noted that
capital expenditures of $ 98 million in 2016 were below guidance range ,
and down 66% year over year, permitting the company to generate positive free cash flow of $ 13. 6 million for the year .
as for what to expect this year, bill barrett guided toward
2017 production levels... approximately 7% higher than 2016 production at the mid - point of guidance .
capital expenditures will also be higher, though, running
approximately $ 255 - $ 285 million .
in march 2000 barrett retired again. the company he built now became a takeover target for a major oil company, royal dutch / shell group, which in march 2001 made an unsolicited bid of $ 1. 8 billion. barrett resources resisted the overture, instead putting itself up for sale in the hope of attracting a better deal from a
white knight
bidder. another buyer soon emerged in the familiar form of the williams companies, which had bought out bill barrett' s rainbow venture 25 years earlier. although shell upped its offer for barrett resources, williams offered more, nearly $ 2. 8 billion in cash and stock, driving shell from the field .
tyson, ray ,
barrett back in business with rockies firm ,
gas daily, april 5, 2002, p. 1 .
mr. vigil has served as vice president - information technology since may 2014. he served as director - information technology from april 2013 until may 2014 and director - it operations from september 2011 to april 2013. mr. vigil has over 20 years of it experience and prior to joining the company has held it management and senior management positions with lanx, inc. , gilead sciences, wilkerson corporation and served as director - it business services with cendant corporation. mr. vigil has a bachelor of science in business technology management and graduated with honors (summa cum laude) from regis university .
mr. woodall has served as chief executive officer and president since january 2013 and as chief operating officer since july 2010. mr. woodall previously served as executive vice president—operations from february 2010 until july 2010 and as senior vice president - operations from april 2007 until february 2010. prior to joining highpoint resources, mr. woodall served as senior vice president - western us for forest oil corporation from 2004 to april 2007 and as drilling and production manager for forest oil corporation from 2000 until 2004. mr. woodall has over 28 years of industry experience. mr. woodall has a bachelor of science in mechanical engineering from the louisiana state university .
ms. choka has served as vice president - human resources since august 2010. prior to joining highpoint resources, she served as group vice president - human resources and vice president - talent management at level 3 communications from 2006 - 2010, and vice president - human resources at sun microsystems from 1999 - 2005. prior to her employment at sun, ms. choka held senior human resources and compensation positions at storage technology corporation, electronic data systems corporation, and jp morgan. she sits on the board of callidus software, inc. ms. choka has a bachelor of arts in east asian studies and economics from wesleyan university and a master of business administration from fairleigh dickinson university .
cummins, chip ,
williams cos. to buy barrett resources for about $ 2. 38 billion in cash, stock ,
wall street journal, may 8, 2001, p. a4 .
mr. wonstolen has served as senior vice president - general counsel since august 2013. prior to joining highpoint resources, mr. wonstolen served as senior counsel at the law firm beatty & wozniak, p. c. since 2009. mr. wonstolen has more than 30 years of experience in the oil and natural gas industry, including serving as corporate counsel and officer at gerrity oil & gas corporation and corporate counsel at patina oil & gas corporation, its successor. mr. wonstolen has a bachelor of arts, magna cum laude, from the state university of new york and a master of environmental policy and management from the university of denver. mr. wonstolen earned his j. d. from the university of colorado school of law .
bill barrett retired in july 1997, but less than a year later, as an energy recession began to take hold, he returned as chief executive officer to lead the company, which he feared had begun to drift off course during the short time he was absent. he told the rocky mountain news in a 1999 interview ,
after working primarily in the rocky mountains, we had gotten involved in exploration in the gulf of mexico and in peru. we wound up overspending our cash flow and taking on more debt than i was comfortable with .
barrett was able to shore up the company, so that it was in a position to enjoy another growth spurt after commodity prices rebounded .
barrett left el paso for pan - american petroleum corp. in 1963, and then four years later became chief geologist for wolf exploration co. , where he made his reputation as an exceptional
oil finder .
as described by a 1993 denver business journal article ,
finding oil is like fitting together a jigsaw puzzle. the geologist combines as many pieces of information as possible, such as seismic data or well histories, and then produces a solution after lots of tedious work .
according to barrett ,
a lot of hard work probably helps improve the luck factor .
barrett' s first major discovery for wolf in the mid - 1960s was the 24 - mile - long, 15 - mile - wide highlight field in wyoming. he then discovered an even larger field, the madden field in the state' s wind river basin .
barrett acquired more powder river basin properties in march 2003, paying $ 35 million. by the end of the year the company' s proved reserves grew to 204 bcfe. due to an increase in the company' s production activity, as well as a rise in oil and natural gas prices, barrett' s balance sheet showed a marked improvement over the previous year. in 2003 the company recorded operating revenues of $ 75. 3 million, resulting in a net loss on the year of approximately $ 500, 000, overall an excellent performance for a start - up venture .
mr. stenzel has served as senior vice president - corporate development and planning since february 2016. he served as vice president - engineering and planning since september 2014. prior to joining the company, mr. stenzel served as executive vice president – williston basin at wpx energy from january 2011 through september 2014 and as director a & d and planning at barrett resources from 1999 through december 2010. mr. stenzel has a bachelor of science in civil engineering from colorado state university .
mar 03, 2017 10: 00 a. m. et q4 and full year 2016 highpoint resources corp earnings conference call nov 04, 2016 10: 00 a. m. et q3 2016 highpoint resources corp earnings conference call
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focused on the development of oil and natural gas assets located in the dj basin of colorado .
our experienced operational team has built our asset portfolio through a combination of acquisitions and exploration focusing on the areas where we have established experience and expertise. the company’s assets and operations consist of contiguous acreage positions located in the dj basin of colorado and wyoming where the company has a focused portfolio consisting of key assets in the northeast wattenberg and hereford field .
we have demonstrated execution of our focused operational and financial strategy. our focus on cost structure improvement has translated into peer leading operating margins and we are positions to deliver a competitive growth profile, which retaining the financial flexibility to fund our growth activity .
mr. crawford has served as chief financial officer since may 2018 and previously served as senior vice president - treasury and finance from february 2016 until may 2018. he served as vice president - finance and marketing from february 2009 until february 2016, and served as director - finance, financial analyst and in other functions in the finance department since joining the company in 2004. from 1994 through 2003, mr. crawford held various domestic and international positions in accounting and finance with several subsidiaries of schlumberger limited, an international oilfield services company. mr. crawford has a bachelor of science in accounting from colorado state university .
mr. macosko has served as senior vice president—accounting since february 2010 and previously served as our vice president—accounting from may 2006 until february 2010. mr. macosko has served as our controller since june 2005 and previously served as manager - operations accounting from 2003 until may 2005. prior to joining the company, mr. macosko served in various accounting capacities at other oil and gas companies. mr. macosko has a bachelor of science in business administration - accounting from west virginia university .
mr. schindler has served as senior vice president - operations since february 2016. he served as vice president - drilling from may 2010 until february 2016, and previously as drilling and completions manager since joining highpoint resources in 2003. for the 24 years prior to joining highpoint resources, mr. schindler was employed by marathon, union pacific resources, snyder oil company and eog resources in a variety of positions of increasing responsibility. mr. schindler has a bachelor of science in petroleum engineering from the university of wyoming .
mr. busnardo has served as vice president – investor relations since may 2017 and previously as senior director, investor relations since may 2015. he has over 20 years of experience in the oil and gas industry and was most recently vice president – investor relations for forest oil. prior to that, he served in an energy specialty sales capacity for macquarie capital (usa) and as a senior equity research analyst covering the small - and mid - cap e & p sector at tristone capital (usa) and in the same capacity at petrie parkman & company. mr. busnardo holds a bachelor of science in accounting from metropolitan state university of denver .
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© 2018 highpoint resources corp. | 1099 18th street, suite 2300, denver, colorado 80202 | main: 303 - 293 - 9100 | disclaimer | glossary
founded in 1993 by brothers tom and david gardner, the motley fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services .
losses are either worse than expected, or much worse, depending on which numbers you use .
are down 9. 9% (as of 3: 15 p. m. est) after the company reported earnings friday .
ceo scot woodall blamed the weak results on
a challenging year of lower oil prices ,
arguing that despite the numbers
we did an excellent job of managing through the downturn and executing on our financial and operational goals ,
and insisting that management did the best it could with
the items within our control
( that is, not oil prices) .
management did not give guidance on gaap profits. but that level of capital spending, relative to likely cash generated from operations, almost certainly implies that free cash flow will turn negative again this year .
rich smith has no position in any stocks mentioned. the motley fool has no position in any of the stocks mentioned. the motley fool has a disclosure policy .
i like things that go
boom .
sonic or otherwise, that means i tend to gravitate towards defense and aerospace stocks. but to tell the truth, over the course of a dozen years writing for the motley fool, i have covered - - and continue to cover - - everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. follow me on twitter or facebook for the most important developments in defense & aerospace news, and other great stories besides .
how applied optoelectronics, inc. stock has gained 18. 7% so far in early 2018
1099 18th street, suite 2300 denver, colorado 80202 u. s. a .
we expect to generate long - term reserve and production growth predominantly through our drilling activities .
hubler, eric ,
legendary colorado energy explorer prepares to take firm public ,
denver post, june 8, 2004 .
toal, brian a. ,
starting over, aiming higher ,
oil & gas investor, june 2002, p. 35 .
source: international directory of company histories, vol. 71. st. james press, 2005 .
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bill barrett corporation ( nyse : bbg ) is an energy company based in denver , colorado . its core business is natural gas and oil exploration and development in the rocky mountains region of the united states . 
bill barrett corporation (nyse: bbg) is an energy company based in denver, colorado. its core business is natural gas and oil exploration and development in the rocky mountains region of the united states.
bill barrett corporation (nyse: bbg) is an energy company based in denver, colorado. its core business is natural gas and oil exploration and development in the rocky mountains region of the united states.