Rosetta Resources, Inc. (ROSE) Tops Q3 EPS by 4c
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Price: $11.66 --0%
Financial Fact:
Operating income: -307.77M
Today's EPS Names:
DBVT, FNGR, SFNC, More
Financial Fact:
Operating income: -307.77M
Today's EPS Names:
DBVT, FNGR, SFNC, More
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Rosetta Resources, Inc. (NASDAQ: ROSE) reported Q3 EPS of $0.76, $0.04 better than the analyst estimate of $0.72. Revenue for the quarter came in at $122.75 million versus the consensus estimate of $146.18 million.
Outlook
The October production averaged 41 MBoe/d of which 64 percent is liquids. Rosetta now anticipates exiting 2012 at the high end of the Company's previously forecasted exit rate range of 39 - 44 MBoe/d. Assuming a similar level of activity to 2012, the Company would expect to deliver about 30 percent year-over-year production growth next year at competitive finding and development costs.
Overall, the Company's estimated range of 2012 fourth quarter expenses is trending lower versus the third quarter reflecting decreases in direct LOE, production taxes, general and administrative expense, and interest expense. Total fourth quarter per unit cost ranges are outlined in the attached "Summary of Expense Guidance" table.
The Company's 2012 capital program is expected to range from $660 - $680 million compared to its original $640 million budget. The incremental $20 million to $40 million is dependent on the timing of several activities. These include the drilling of two non-Eagle Ford exploratory wells, the funding of anticipated land acquisitions both inside and outside of the Eagle Ford, and the additional costs incurred in 2012 associated with the planned move of the corporate office in 2013. The projection also reflects expenditures for Rosetta's share of costs for 12 non-operated Eagle Ford wells planned to drill in the fourth quarter and for the construction of additional facilities to support 2013 Eagle Ford development.
For earnings history and earnings-related data on Rosetta Resources, Inc. (ROSE) click here.
Outlook
The October production averaged 41 MBoe/d of which 64 percent is liquids. Rosetta now anticipates exiting 2012 at the high end of the Company's previously forecasted exit rate range of 39 - 44 MBoe/d. Assuming a similar level of activity to 2012, the Company would expect to deliver about 30 percent year-over-year production growth next year at competitive finding and development costs.
Overall, the Company's estimated range of 2012 fourth quarter expenses is trending lower versus the third quarter reflecting decreases in direct LOE, production taxes, general and administrative expense, and interest expense. Total fourth quarter per unit cost ranges are outlined in the attached "Summary of Expense Guidance" table.
The Company's 2012 capital program is expected to range from $660 - $680 million compared to its original $640 million budget. The incremental $20 million to $40 million is dependent on the timing of several activities. These include the drilling of two non-Eagle Ford exploratory wells, the funding of anticipated land acquisitions both inside and outside of the Eagle Ford, and the additional costs incurred in 2012 associated with the planned move of the corporate office in 2013. The projection also reflects expenditures for Rosetta's share of costs for 12 non-operated Eagle Ford wells planned to drill in the fourth quarter and for the construction of additional facilities to support 2013 Eagle Ford development.
For earnings history and earnings-related data on Rosetta Resources, Inc. (ROSE) click here.
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