“We don't intend to pursue significant production growth in a $55 oil world”
By Richard Rostad, analyst, Oil & Gas 360

Centennial Resource Development (ticker: CDEV) announced fourth quarter results and reserves today, showing earnings of $31.0 million, or $0.12 per share.

This is almost perfectly in line with Centennial’s Q4 2017 results, when the company earned $30.5 million. Full-year results show much more improvement, as Centennial earned $199.9 million in 2018 compared to $75.6 million in 2017.

Centennial produced an average of 69.6 MBOEPD in Q4, up 11% sequentially. The company has grown significantly over the past year, as overall 2018 output of 61.1 MBOEPD is nearly double the 31.9 MBOPD it produced in 2017.


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