Conversation starters
Most popular
Bonneville Seattle is raising funds for the construction of a second Fisher House at Joint Base Lewis-McChord in Tacoma and we need your help.Bill Barrett shares fall after gas explosion
November 21, 2012 @ 11:25 am
NEW YORK (AP) - Shares of Bill Barrett Corp. fell Wednesday after the oil and gas company shut down about a quarter of its production because a Utah facility was damaged in an explosion Tuesday.
The blast severely damaged a compressor station, injured two workers and led the company to shut down production in the West Tavaputs field around the station.
That field produces about 88 million cubic feet of gas equivalent per day, which Raymond James analyst John Freeman said amounts to about 26 percent of the company's total production.
Denver-based Bill Barrett said it expects to move most of the gas production, when it comes back online, through its other facilities in the area.
The company added that the damaged equipment is covered by its property damage insurance.
Shares fell 76 cents, or 4 percent, to $17.81 in heavy afternoon trading, after dropping as low as $16.84 earlier in the day. The stock had lost about half its value this year through Tuesday's close.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
-
I-5 Bridge Collapse
Three people were pulled from the water after I-5 bridge collapses over Skagit River -
Ban Lifted
Washington state leaders hail vote to allow openly gay Boy Scouts -
There's a Zone for That
Mapping out a plan for marijuana growers and sellers
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.