Current LONE Stock Info

Texas-based E&P Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to its common stockholders of $18.5 million, or ($0.75) per share in Q1 2018. The company produced 7,777 BOEPD on average in the quarter.

CEO Frank D. Bracken, III, said, “In the first quarter, production increased by 48% and realized prices after hedging rose 24%, resulting in a 103% increase in EBITDAX… Given the excellent start, we have increased our 2018 full-year production guidance to 10,300 BOEPD – 11,000 BOEPD, which represents 65% growth versus 2017.”


In the first quarter of 2018, Lonestar placed online four gross (3.8 net) wells. In May, the company placed its first three gross (2.4 net wells) Karnes County wells onstream, and future production is anticipated from two additional gross/net wells in the Horned Frog area in June 2018.

Lonestar Resources Hits 10 MBOEPD in April, Increases Full Year Guidance

LONE 2018 Schedule, May 2018

In Eagle Ford’s Gonzales County, Lonestar started drilling the Cyclone #13H and Cyclone #14H. The two wells have planned total depths of 20,150 feet and 19,650 feet, respectively. For perspective, Cyclone #13H’s lateral length covers about 67 football fields. Lonestar said that fracture stimulation operations are scheduled for June 2018.

During the first 90 days of production, the Hawkeye #1H, also in the Eagle Ford, produced 74,136 Boe, or 824 BOEPD. Over the same period, the Hawkeye #2H produced 64,045 Boe on a three-stream basis, or 712 BOEPD.

“While we are pleased with the progress that our first quarter represents, our second quarter results will more fully reflect the outstanding drilling results we have generated thus far in 2018,” Bracken said.

Bracken went on to say that the company’s stronger financial position has allowed it to secure dedicated drilling and pressure pumping services, allowing the company to control quality, timing and costs of its capital program. The 2018 capital spending budget has been increased by $5 million to a range of $100-$105 million.

According to Lonestar’s investor presentation, the company’s production exceeded 10,000 BOEPD for the first time in April 2018.

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