Quarterly / Earnings Reports | First Quarter (1Q) Update | Drilling Activity
SRC Gets +200% Oilier YOY in Q1; Total Production Up Over 150% to 45.4 MBOEPD
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SRC Energy reported its Q1 2018 results.
Production Highlights
- Crude oil volumes up +200% YOY to 2,041 MBbls
- Q1 2018 production up 156% YOY to 45.4 MBOEPD
Drilling Activity
Financial Highlights:
- Revenues were $147.2 million for the three months ended March 31, 2018
- Net income was $65.8 million or $0.27 per diluted share for the three months ended March 31, 2018
- Drilling and completion capital expenditures of $111.0 million for the three months ended March 31, 2018 were funded from EBITDA
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