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Wednesday, Nov 21, 2012 7:30 PM UTC

Bill Barrett shares fall after gas explosion

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Topics: From the Wires,

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.

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Gripping photos: The people of the Turkey protests (slideshow)

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  • The protests take on a festive element as police forces move out of the park and square. Wearing a gas mask, this young man dances to traditional Turkish music in front of Taksim Square’s Ataturk Monument.

  • In Gezi Park since March 31st, this protester, originally caught off-guard by the Government’s teargas and water cannons, went out and bought a Russian army mask from WWII, preparing for what was to come.

  • This rambunctious boy seems to be enjoying the chaos. After taking this picture he threw a stone at the already destroyed building in the background.

  • Forming a line, the police face off directly with protesters in Taksim Square. After a while, they retreated and there was a general cheer – a back-and-forth dance that has been common since the beginning of this protest.

  • An elderly woman in Gezi Park reads the news. The tent community occupying the park was violently destroyed on June 16th.

  • Many different groups had set up booths to promote their cause in Taksim Square and Gezi Park. Standing in front of one, this man waves his flag while posing with conviction.

  • Many home-remedies are used to minimize the effects of tear gas. This woman has put a milky solution on her face, removing her mask after the tear gas dissipated. Before sunrise, the police came again for another round of teargasing.

  • People capitalize on the uprising -- selling flags, beer, gas masks, sky lanterns and spray paint to name just a few of the popular items.

  • On Monday morning, June 11, the police execute a strong offensive. Many plain-clothed police officers, like the ones seen here, clash with protesters in the side streets away from the main stand-off in Taksim.

  • The authorities seem to be most aggressive in the night, pushing protesters away from the square and park. After being teargassed this young woman catches her breath with other protesters on Siraselviler Street.

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