Extraction Oil & Gas, Inc. reported unaudited consolidated operating results for the fourth quarter and full year ended December 31, 2019. For the quarter, average net sales volumes were 111,077 BOE/d, an increase of 29% year-over-year and 38% sequentially. Fourth quarter crude oil volumes of 50,065 Bbl/d increased 7% year-over-year and 28% sequentially.

For the full-year 2019, average net sales volumes were 88,728 BOE/d, an increase of 17% year-over-year, while full-year 2019 crude oil volumes increased 5% year-over-year to 42,291 BOE/d. Crude oil accounted for approximately 77% and 80% of the Company's total revenues recorded during the fourth quarter and full-year 2019, respectively.

The company announced the impairment of long lived assets and goodwill was $1,326,762,000 against $54,634,000 a year ago.

The company now expects its full-year 2020 total equivalent production to be 90-95 MBoe/d with 40-42 MBbl/d of crude oil production. The company's divestiture program in 2020 has started strong as it signed and closed on another deal last month for $14.7 million to sell additional non-operated production. After taking into account the production impact from the December 2019 asset sale and the asset sale it closed in February, it has reduced the midpoint of 2020 production guidance by 2,000 BOE per day and 1,000 barrels of oil per day.