Eyes 15% cost savings in 2019
By Richard Rostad, analyst, Oil & Gas 360

Jagged Peak Energy (ticker: JAG) announced fourth quarter results and reserves today, showing net income of $186.3 million, or $0.87 per share. Most of this profit is due to derivatives, and if these and other special charges are excluded Jagged Peak earned $28.2 million in Q4.

Jagged Peak produced 38.4 MBOEPD in Q4, above the high end of guidance and up 60% year-over-year. The company’s 34.2 MBOEPD over the full year also beat guidance and represents 102% growth.

Jagged Peak now holds 118.9 MMBOE in reserves, up 44% from its 82.4 MMBOEPD in 2017. Overall, the company replaced 393% of production, with an organic F&D cost of $15.55 per BOE. This cost is...

Legal Notice