RSP Permian (RSPP) Reports In-Line Q4 EPS, Beats on Revenues

RSP Permian (NYSE: RSPP) reported Q4 EPS of $0.32, in-line with the analyst estimate of $0.32. Revenue for the quarter came in at $249.02 million versus the consensus estimate of $244.94 million.

Highlights for the Fourth Quarter and Full Year 2017:

• 4Q17 production increased 74% to 62.4 MBoe/d (71% oil, 88% liquids) compared to 4Q16 and full year 2017 production increased 89% to 55.3 MBoe/d (72% oil, 88% liquids) compared to 2016
• 4Q17 net income was $140.8 million, or $0.89 per diluted share and adjusted net income (non-GAAP), which does not include certain items, was $50.1 million, or $0.32 per diluted share. Full year 2017 net income was $232.1 million, or $1.49 per diluted share and adjusted net income (non-GAAP), which does not include certain items, was $128.6 million, or $0.83 per diluted share
• 4Q17 adjusted EBITDAX (non-GAAP) increased 102% to $182.4 million compared to 4Q16, and increased 26% compared to 3Q17. Full year 2017 adjusted EBITDAX (non-GAAP) increased 134% to $587.0 million compared to 2016
• Full year 2017 development capital expenditures of $673.3 million
• Maintained strong year-end liquidity position of $561.2 million, including $523.1 million of available borrowing capacity under the Company\'s revolving credit facility and $38.1 million of cash
• Proved reserves increased by 59% to 376 MMBoe (70% oil, 87% liquids) compared to 2016; achieved low drill-bit finding and development cost of $6.26/Boe, with a 771% reserve replacement ratio and a 536% organic reserve replacement ratio

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

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