Bill Barrett Corp. stock climbs after 3Q losses shrink

DENVER – Bill Barrett Corp. (NYSE: BBG) shrunk its third-quarter net loss from $410.3 million a year ago to $26.3 million this year.

The Denver-based company, a major oil and gas producer in northern Colorado, posted its quarterly earnings report this week.

The company’s net loss amounted to 44 cents per share versus $8.49 per share last year.

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Revenue for the quarter was $50.5 million, up from $49.7 million.

The company reported an eight percent decrease year-over-year in production volumes due primarily to the sale of some assets in Colorado and Utah.

Capital expenditures were $8.1 million for the quarter, with company officials noting that bill Barrett did not operate a drilling rig for much of the quarter.

Bill Barrett’s earnings report came out following the close of markets on Thursday. The company’s share price jumped 8.6 percent on Friday in the wake of the report.