Energy developer Bill Barrett Corp. said last week that it is reducing natural gas drilling activity this year in favor of increased oil development. The company cited lower prices as the reason, and is reducing its activity in natural gas by $120 million.
Overall, Bill Barrett Corp. is cutting its anticipated expenditures this year by roughly $100 million from earlier projections, to between $800 and $900 million.
Regionally, the company plans to stop drilling in West Tavaputs in Utah and reduce it in Colorado’s Gibson Gultch. Spending on oil activity, however, will increase by $30 million for its Uinta Oil Program.