Jagged Peak Energy Inc. Announces Unaudited Consolidated Production Results for the Fourth Quarter and Year Ended December 31, 2018; Provides Production Guidance for the Quarter Ending March 31, 2019 and Year Ending December 31, 2019; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2018
For the quarter, the company reported production of oil of 9,620 MBbls against 4,979 MBbls a year ago. Natural gas was 7,992 MMcf against 3,601 a year ago. NGLs was 1,534 MBbls against 3,601 MBbls a year ago. Total average daily production volumes were 34,207 Boe/d against 16,974 Boe/d a year ago.
For the quarter ending March 31, 2019, the company expects average daily equivalent production at 36.5 MBoe/d 37.9 MBoe/d. Average daily oil production at 27.5 MBbl/d 28.9 MBbl/d.
For the year ending December 31, 2019, the company expects average daily equivalent production at 38.3 MBoe/d 41.3 MBoe/d. Average daily oil production at 29.2 MBbl/d 31.2 MBbl/d.
For the quarter ended December 31, 2018, the company reported impairment of unproved oil and natural gas properties of $28,145,000 against $8,000 a year ago.