Centennial Resource Development (CDEV) Tops Q4 EPS by 2c

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Go back to Centennial Resource Development (CDEV) Tops Q4 EPS by 2c

Centennial Resource Development Announces Full Year 2019 Results, 2019 Year-End Reserves, 2020 Guidance, Water Infrastructure Divestiture and Leadership Transition

February 24, 2020 4:14 PM EST

DENVER, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (Centennial or the Company) (NASDAQ: CDEV) today announced 2019 financial and operational results and 2020 operational plans and targets.

Recent Financial and Operational Highlights

Increased daily oil and equivalent production volumes 23% and 25% year-over-year, respectivelyAnnounced strong co-development results from the Northern and Southern Delaware BasinsAnnounced the divestiture of water infrastructure assets for $225 million Upfront cash proceeds of approximately $150 million expected to essentially fund 2020 cash flow deficit and reduce leverage metrics Increased total proved reserves by 15%... More