Resolute Energy Corporation Announces Unaudited Consolidated Earnings and Production Results for Fourth Quarter and Full Year Ended December 31, 2017; Provides Production Guidance for the Fourth Quarter and Full Year 2018
For the year, the company reported total revenue of $303,478,000, adjusted revenue of $307,208,000, net loss available to common shareholders of $7,708,000, adjusted net income of $13,950,000 or $0.61 per diluted share, adjusted EBITDA of $172,756,000 compared to total revenue of $164,478,000, adjusted revenue of $252,488,000, net loss available to common shareholders of $161,722,000, adjusted net loss of $48,797,000 or $3.09 per diluted share, adjusted EBITDA of $140,809,000 a year ago. Capital expenditure was 302.3 million.
For the quarter, the company total production was 2,539 MBoe compared to 1,802 MBoe a year ago.
For the year, the company total production was 9,156 MBoe compared to 5,182 MBoe a year ago.
For the fourth quarter of 2018, Company projects production will be 42,000 to 44,000 BOE a day, a 90% uplift from fourth quarter of 2017.
For the full year 2018, Company projects full year 2018 average production of 30,000 to 33,000 BOE a day, a 50% increase in year-over-year Permian Basin volumes. Additionally, company expects full year LOE in 2018 to be $5.57 a BOE at the midpoint, 36% less than 2017 and full year G&A to be $2.78 a BOE at the midpoint, net of COPAS reimbursements.