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Lonestar Touts Better-than-Expected Eagle Ford Results; Output Up 48% YOY
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Lonestar Resources reported its Q1 2018 results.
Highlights: - Q1 2018 production of 7,777 BOEPD (up +48% YOY and Production volumes exceeded the high end of the Company's guidance, and were 86% crude oil and NGLs on an equivalent basis. The increase in production was attributable to the drilling of new Eagle Ford Shale wells and production associated with our acquisition of producing properties in June 2017. Based on the strength of its drilling results to date, Lonestar is raising its full-year 2018 production guidance to a range of 10,300 to 11,000 Boe/d.- Lonestar reported a net loss attributable to its common stockholders of $18.5 million, or ($0.75) per weighted average share, during 1Q18 compared to net income of $3.1 million, or $0.14 per weighted average share during the…
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