Centennial Resource Development (CDEV) Misses Q4 EPS by 4c
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Centennial Resource Development Announces Full Year 2018 Results, 2018 Year-End Reserves and 2019 Guidance
February 25, 2019 4:06 PM ESTDENVER, Feb. 25, 2019 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (Centennial or the Company) (NASDAQ: CDEV) today announced 2018 financial and operational results and 2019 operational plans and targets.
2018 Financial and Operational Highlights:
Increased daily oil and equivalent production volumes 81% and 92% year-over-year, respectivelyAnnounced solid well results from the Northern and Southern Delaware Basins, including successful delineation tests and Centennials best New Mexico well to dateIncreased total proved reserves 40% with organic reserve replacement ratio over 400%Maintained original capital expenditure budgetDelivered unit costs at or below low-end of full year guidance... More