United States and Peru
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Barrett to Take US$104mn Charge

Bnamericas Published: Thursday, February 18, 1999
Denver-based Barrett Resources will take a charge of US$104mn to write down the book value of its properties in the US and Peru at the end of 1998 at the request of the US Securities & Exchange Commission, the company said yesterday. Low oil and gas prices led to a US$80mn expense at Barrett's US property and US$24mn in Peru. Barrett registered a 61% reduction in its third-quarter earnings last year to US$1.8mn (US$0.06/share) from US$4.6mn (US$0.14/share) in the same period 1997.

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Other companies in: Oil & Gas (Peru)

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