June 12, 2018 - 7:05 AM EDT
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Free Research Report as Jagged Peak's Revenues Surged 227.6% and Adjusted Earnings Soared 140%

LONDON, UK / ACCESSWIRE / June 12, 2018 / If you want access to our free earnings report on Jagged Peak Energy Inc. (NYSE: JAG), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=JAG. The Company reported its financial results on May 10, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The independent oil and natural gas Company beat market estimates for revenue and earnings for Q1 FY18. Additionally, the Company provided its guidance for the upcoming quarter and full fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Jagged Peak Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the quarter ended March 31, 2018, Jagged Peak's revenues advanced 227.6% to $129.1 million compared to $39.4 million in the first quarter of the fiscal year 2017, primarily due to higher sales volumes and higher realized commodity prices. The Company's revenue numbers surpassed market estimates of $117.4 million.

During Q1 FY18, Jagged Peak incurred total operating expenses of $151.8 million versus $432.4 million in Q1 FY17, decreasing 64.9% on a y-o-y basis. For the reported quarter, the Company posted a loss from operations of $22.7 million compared to a loss of $393.0 million in the year ago same period.

For the reported quarter, Jagged Peak's adjusted earnings before interest, taxes, depreciation, depletion, amortization, and exploration expenses (EBITDAX) were $85.5 million versus $29.1 million in the comparable quarter of last year, increasing 193.7% on a y-o-y basis.

Jagged Peak reported a net loss of $39.4 million in Q1 FY18 compared to a loss of $90.4 million in Q1 FY17. The Company's adjusted net income grew 152.4% to $26.4 million in the reported quarter compared to $10.5 million in the year ago corresponding period.

Jagged Peak posted a loss per share of $0.18 in the reported quarter compared to a loss per share of $0.42 in the prior year's same quarter. The Company's adjusted earnings per share (EPS) soared 140% to $0.12 in Q1 FY18 compared to $0.50 in Q1 FY17, beating market projections of $0.10.

Operation Details

During Q1 FY18, Jagged Peak's production increased 182% to 27,596 barrel of oil equivalent per day (Boe/d) compared to 9,785 Boe/d in Q1 FY17.

For Q1 FY18, Jagged Peak's average realized sales prices, including the settlement of realized oil hedges, were $53.52 per barrel of oil; $1.73 per Mcf of natural gas; and $22.17 per barrel of natural gas liquids (NGLs). The Company's total oil equivalent price was $45.67 per Boe in the reported quarter versus $43.30 per Boe in the prior year's comparable period.

For Q1 FY18, Jagged Peak spud 12 gross operated horizontal wells and placed on production 11 gross operated horizontal wells.

As of March 31, 2018, Jagged Peak's total leasehold position was approximately 77,700 net acres, with approximately 2,080 future well locations identified across the Company's leasehold.

Cash Matters

As of March 31, 2018, Jagged Peak's cash and cash equivalents stood at $3.21 million compared to $198.8 million as of March 31, 2017. The Company had a long-term debt of $265.0 million as of March 31, 2018, versus $155.0 million as of December 31, 2018. For the reported quarter, the Company generated cash inflow from operating activities of $80.2 million compared to $21.7 million in the year ago corresponding period.


For FY18, Jagged Peak expects capital expenditure to be in the range of $560.0 million to $615.0 million. The Company anticipates LOE of $3.25 per Boe to $4.00 per Boe, and total net production to be in the band of 28,000 Boe/d to 31,000 Boe/d for FY18, reflecting an improvement of 74% compared to average production in 2017.

Jagged Peak anticipates production to be in the range of 31,000 Boe/d to 32,000 Boe/d for Q2 FY18, representing a growth of 14% at the mid-point compared to production in Q1 FY18. For Q2 FY18, the Company expects oil production to be in the band of 24,500 Bo/d to 25,500 Bo/d.

Stock Performance Snapshot

June 11, 2018 - At Monday's closing bell, Jagged Peak Energy's stock advanced 1.78%, ending the trading session at $11.46.

Volume traded for the day: 1.48 million shares.

After yesterday's close, Jagged Peak Energy's market cap was at $2.41 billion.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 0.5% at the end of the session.


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Source: ACCESSWIRE Investor Awareness (June 12, 2018 - 7:05 AM EDT)

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