Resolute Energy Corporation Announces Operating Results for the Third Quarter of 2018; Provides Operating Guidance for the Full Year of 2018 and Earnings Guidance for the Third Quarter and Capital Expenditure Guidance for the Full Year 2018
For the third quarter, the company expects net loss is expected to increase compared to the second quarter net loss of $3.7 million due in large part to the effect of non-cash mark-to-market derivative losses. Third quarter 2018 Adjusted EBITDA is expected to be nearly double second quarter 2018 Adjusted EBITDA of $33.7 million (a non-GAAP measure as defined and reconciled below). This significant increase in expected Adjusted EBIDTA is being driven by stronger production volumes, as well as lower unit operating and overhead costs.
For the full year 2018, the company expects annual production (MBoe) Updated to be 10,950 - 11,680 against previously issued 10,950 MBoe
- 12,045 MBoe. Annual average Boe per day updated to be 30,000 - 33,000 against previously issued 30,000 - 33,000. Annual oil percent updated to be 45% against previously issued 49% - 50%. Annual oil and NGL percent updated to be 72% against previously issued 75%.
For the full year of 2018, company expects capital expenditure updated to be $370 million- $380 million against previously announced $365 million- $395 million.