UPDATE 1-Bill Barrett Q1 profit beats Wall Street

* Q1 adj EPS $0.52 vs est of $0.40

* Rev up 9 pct to $157.8 mln, lags market

* Backs FY production outlook

May 4 (BestGrowthStock) – Independent oil and natural gas company
Bill Barrett Corp (BBG.N: ) reported quarterly profit that beat
market estimates, helped by its commodity hedging program, and
maintained its full-year production outlook.

For the latest first quarter, net income was $24 million,
or 53 cents a share, compared with $26.4 million, or 59 cents a
share, a year earlier.

Adjusted net income was 52 cents a share.

Total operating revenue rose 9 percent to $157.8 million.

Analysts on average were expecting Bill Barrett to earn 40
cents a share, on revenue of $158.8 million, according to
Thomson Reuters I/B/E/S.

During the quarter, natural gas and oil revenues from the
commodity hedging program increased by $16.2 million, or 75
cents per Mcfe (million cubic feet equivalent) of production.

Bill Barrett retained its 2010 production outlook of 97
bcfe (billion cubic feet equivalent) to 100 bcfe.

However, the company sees higher capital expenditures of
between $450 million and $470 million before acquisitions, up
from its previous estimate of $400 million to $425 million.

Shares of Bill Barrett closed at $34.63 Monday on the New
York Stock Exchange.

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(Reporting by Vinay Sarawagi in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Bill Barrett Q1 profit beats Wall Street