June 12, 2018 - 7:05 AM EDT
Print Email Article Font Down Font Up
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:

www.active-investors.com/registration-sg

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:

www.active-investors.com/registration-sg/?symbol=JAG

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.

Outlook

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.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors


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

News by QuoteMedia
www.quotemedia.com

Legal Notice