Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure
Endeavor Talks 2023 Development Program; Rigs, Frac Crews
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Endeavor Energy Resources, announces financial and operating results for the three and twelve months ended December 31, 2022, and provides full-year 2023 outlook.
Fourth Quarter 2022 (“4Q22”) Highlights
▪ Average net production of 311.1 MBoe per day, a 26% increase compared to the three months ended December 31, 2021 (“4Q21”) and an 8% sequential growth compared to the three months ended September 30, 2022.
▪ Repurchased $22 million of the Company’s outstanding 2028 Senior Notes in a series of open market transactions.
Full-Year 2022 Highlights
▪ Averaged full-year net production of 278.8 MBoe per day, a 36% increase compared to the twelve months ended December 31, 2021 (“2021”)
▪ Reduced gross debt by 39% since year-end 2021 and 53% since year-end 2020.
▪ Year-end proved reserves…
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