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RSP Touts 'Exceptional' 2014; Details Spraberry, Wolfcamp Wells
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RSP Permian, Inc. announced financial and operating results for the quarter and year ended December 31, 2014.
Highlights: 4Q14 production increased by 106% to 16.1 MBoe/d as compared to 4Q13 and increased by 44% as compared to 3Q14 4Q14 adjusted EBITDAX increased by 65% to $66.6 million as compared to 4Q13 and increased by 22% as compared to 3Q14 4Q14 net income of $57.7 million, or $0.74 per diluted share. Net income includes a $70.1 million non-cash gain on derivatives and a $4.3 million non-cash impairment on oil and gas properties. Adjusted net income, which does not include these items, was $15.7 million, or $0.20 per diluted share Successful horizontal and vertical drilling program in multiple formations led to a 97% increase in proved reserves to 106.4 MMBoe (39% proved…- ✓ Full news archive — U.S., Canada & international coverage
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