RSP Permian (RSPP) Tops Q4 EPS by 5c

RSP Permian (NYSE: RSPP) reported Q4 EPS of $0.10, $0.05 better than the analyst estimate of $0.05.

Highlights for the Fourth Quarter and Full Year 2016:

• 4Q16 production increased 48% to 35.8 MBoe/d (71% oil, 88% liquids), compared to 4Q15
• Full year 2016 production increased 39% to 29.2 MBoe/d (73% oil, 89% liquids), compared to 2015
• 4Q16 net income of $1.4 million, or $0.01 per diluted share. Adjusted net income, which does not include certain items, was $13.4 million, or $0.10 per diluted share
• 4Q16 adjusted EBITDAX increased 22% to $90.5 million compared to 4Q15
• 4Q16 cash operating expenses of $9.11/Boe, 23% below 2015 average of $11.85
• 4Q16 development capital expenditures of $95.5 million
• Full year 2016 development capital expenditures of $294.2 million
• Entry into the Delaware Basin with previously announced $2.4 billion acquisition of Silver Hill Energy Partners, LLC ("SHEP I") and pending acquisition of Silver Hill E&P II, LLC (\"SHEP II\"), expected to close March 1, 2017
• Maintained strong year-end liquidity position and balance sheet, pro forma closing of SHEP II with $109 million of cash and no borrowings outstanding under revolving credit facility
  • Amended and restated credit facility, extending maturity date to December 2021, increasing borrowing base to $1.1 billion upon closing SHEP II, and increasing lender\'s commitments to $2.5 billion
• Pro forma proved reserves increased by 78% to 283 MMBoe(1) (70% oil, 88% liquids) over 2015
• Achieved low drill-bit finding and development cost of $4.05/Boe with an 848% reserve replacement ratio and a 684% organic reserve replacement ratio(2)

For earnings history and earnings-related data on RSP Permian (RSPP) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery