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RSP Seeing Consistent Spraberry, Wolfcamp B Wells
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RSP Permian, Inc. has announced financial and operating results for the quarter ended March 31, 2014.
Highlights Successful completion of the Company's IPO, issuing 23 million shares at $19.50 per share for gross proceeds of $449 million. Average production of 9,339 Boe/d in the first quarter of 2014, a 63% increase over the first quarter of 2013 average production of 5,713 Boe/d and a 19% increase over the fourth quarter of 2013 average production of 7,837 Boe/d. Net income of $14.7 million, or $0.20 per diluted share. Net income includes a $3.8 million non-cash loss on derivatives and other income. Our adjusted net income, which does not include these items, was $17.0 million, or $0.23 per diluted share. Added fourth operated horizontal rig and second operated vertical rig; all…- ✓ Full news archive — U.S., Canada & international coverage
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