June 4, 2018 - 7:10 AM EDT
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Free Research Report as RSP Permian's Q1 Production Volume Rose 39% Y-o-Y; Announced Merger with Concho

Stock Monitor: Ocean Rig UDW Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 4, 2018 / If you want access to our free earnings report on RSP Permian, Inc. (NYSE: RSPP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RSPP. The Company posted its financial results on May 02, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Dallas, Texas-based Company's production volumes grew 39% y-o-y. 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 currently working on the research report for Ocean Rig UDW Inc. (NASDAQ: ORIG), which also belongs to the Basic Materials sector as the Company RSP Permian. Do not miss out and become a member today for free to access this upcoming report at:

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

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, RSP Permian 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=RSPP

Earnings Highlights and Summary

During Q1 FY18, RSP Permian's total revenues increased to $276.32 million from the $169.93 million recorded at the end of Q1 FY17. However, the Company's total revenue numbers for the reported quarter missed market expectations of $281 million. The Company's oil sales were $251.98 million in Q1 FY18, up from $151.64 million in Q1 FY17. The Company's natural gas sales also increased to $8.43 million in Q1 FY18 from $7.38 million in Q1 FY17. Moreover, the Company's NGL sales also grew to $15.91 million in Q1 FY18 from $10.92 million in Q1 FY17.

The oil and gas Company reported a net income of $89.57 million, or $0.57 per diluted common share, in Q1 FY18, rising from $38.93 million, or $0.26 per diluted common share, in Q1 FY17. The Company's adjusted net income was $79.03 million, or $0.50 per diluted common share, in Q1 FY18 compared to $24.21 million, or $0.16 per diluted common share, in Q1 FY17. Meanwhile, Wall Street had also expected the Company to report adjusted net income $0.50 per diluted common share.

Operating Metrics

RSP Permian's total operating expenses increased to $146.26 million during Q1 FY18 from $114.54 million in the past year's same quarter. The Company reported an operating income of $130.06 million during Q1 FY18 versus $55.39 million in Q1 FY17. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, depletion, amortization, and exploration expenses (EBITDAX) stood at $205.20 million in Q1 FY18 compared to $124.45 million in Q1 FY17.

For Q1 FY18, RSP Permian's oil production volume increased to 4,073 thousand barrels (MBbls) from 3,032 MBbls in Q1 FY17. The Company's quarterly production volume of natural gas totaled 4,254 million cubic feet (MMcf) in Q1 FY18, higher than 2,926 MMcf in the prior year's comparable quarter. The Company's natural gas liquids (NGLs) production volume also increased to 868 MBbls during Q1 FY18 from 547 MBbls in Q1 FY17. Furthermore, the Company's total production was 5,650 thousand barrels of oil equivalent (MBoe) during the reported quarter compared to 4,067 MBoe in Q1 FY17. Meanwhile, the Company's average production was 62,778 barrels of oil equivalent per day (Boe/d) during Q1 FY18 compared to 45,189 Boe/d in Q1 FY17.

Cash Matters and Balance Sheet

For the three months ended March 31, 2018, RSP Permian generated net cash provided by operating activities of $177.81 million compared to $106.94 million in the prior year's corresponding quarter. The Company's cash and cash equivalents balance stood at $33.93 million as on March 31, 2018, compared to $38.10 million at the close of books on December 31, 2017. Furthermore, the Company's total long-term debt increased to $1.58 billion as on March 31, 2018, from $1.51 billion as on December 31, 2017.

Merger

On March 27, 2018, RSP Permian and Concho Resources Inc. (NYSE: CXO) ("Concho") entered into a definitive merger agreement, pursuant to which Concho will acquire RSP Permian in an all-stock transaction valued at approximately $9.5 billion, inclusive of RSP Permian's net debt. The consideration will consist of 0.320 shares of Concho common stock for each share of RSP Permian common stock.

Stock Performance Snapshot

June 01, 2018 - At Friday's closing bell, RSP Permian's stock dropped 6.06%, ending the trading session at $41.09.

Volume traded for the day: 4.87 million shares, which was above the 3-month average volume of 3.53 million shares.

Stock performance in the last three-month – up 2.62%; previous six-month period – up 15.58%; past twelve-month period – up 13.51%; and year-to-date – up 1.01%

After last Friday's close, RSP Permian's market cap was at $6.97 billion.

Price to Earnings (P/E) ratio was at 15.33.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 0.2% at the end of the session.

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Source: ACCESSWIRE Investor Awareness (June 4, 2018 - 7:10 AM EDT)

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