February 20, 2018 / 11:16 AM / 4 months ago

BRIEF-Energen Q4 Adjusted Loss Per Share $0.63

Feb 20 (Reuters) - Energen Corp:

* Q4 ADJUSTED LOSS PER SHARE $0.63

* ‍4Q17 PRODUCTION OF 97.4 MBOEPD EXCEEDED GUIDANCE BY 14% AND SURPASSED 3Q17 PRODUCTION BY 20%​

* ‍4Q17 OIL PRODUCTION OF 58.1 MBOPD EXCEEDED GUIDANCE BY 8% AND SURPASSED 3Q17 OIL PRODUCTION BY 19%​

* ‍ANNUAL OIL PRODUCTION ESTIMATED TO GROW AT 3-YEAR CAGR OF ABOUT 28%​

* ‍ANNUAL PRODUCTION ESTIMATED TO REACH ABOUT 160 MBOEPD IN 2020, WITH 4Q EXIT RATE OF ABOUT 170 MBOEPD​

* ‍DRILLING AND DEVELOPMENT CAPITAL ESTIMATED TO INCREASE TO $1.6-$1.8 BILLION IN 2020​

* ‍YE20 EBITDAX ESTIMATED TO BE ABOUT $1.6 BILLION; 3-YEAR CAGR OF ABOUT 35%

* ‍2018 PRODUCTION ESTIMATED TO GROW 25% YOY AT MIDPOINT​

* ‍3-YEAR PRODUCTION CAGR (2018-2020) EXPECTED TO EXCEED 28% PER YEAR​

* QTRLY GAAP NET INCOME FROM ALL OPERATIONS OF $262.4 MILLION, OR $2.68 PER DILUTED SHARE‍​

* QTRLY TOTAL REVENUE $271.8 MILLION VERSUS $114.5 MILLION

* Q4 EARNINGS PER SHARE VIEW $0.42, REVENUE VIEW $299.7 MILLION — THOMSON REUTERS I/B/E/S

* ‍PLANS TO INVEST $1.1 BILLION TO $1.3 BILLION OF CAPITAL FOR DRILLING AND DEVELOPMENT ACTIVITIES IN 2018​

* ‍PLANS TO DRILL APPROXIMATELY 130 GROSS/120 NET HORIZONTAL WELLS IN 2018​

* ‍DURING 2018, COMPANY PLANS TO RUN AN AVERAGE OF 9 DRILLING RIGS AND 4.5 FRAC CREWS​

* ‍YEAR-END 2017 PROVED RESERVES INCREASE 40% TO 444 MMBOE​ Source text for Eikon: Further company coverage:

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