Extraction Oil & Gas (XOG) Tops Q3 EPS by 42c, Revenues Miss

Extraction Oil & Gas (NASDAQ: XOG) reported Q3 EPS of $0.28, $0.42 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $196.97 million versus the consensus estimate of $225.51 million.

"While our third-quarter production was negatively impacted by approximately 8,000 Boe/d due to a prolonged unplanned midstream outage in our Southwest Wattenberg area, we are pleased to announce that our midstream diversification efforts are all operational, and we are no longer constrained by the midstream bottlenecks we have experienced over the past few years," said Extraction's President and Acting CEO Matt Owens.

"We are now moving gas from East Greeley down Rocky Mountain Midstream's gathering line, select volumes from our Windsor area to RimRock's Pierce plant, and volumes from Broomfield to Elevation Midstream's Badger central gathering facility. Going forward, we expect our midstream diversification and redundancy to enable more reliable and consistent production while improving our capital efficiency."

For earnings history and earnings-related data on Extraction Oil & Gas (XOG) click here.

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