2017 Preliminary Results:
- production of 286,985 barrels of oil equivalent (boe) per day in fourth quarter 2017, up 37% year-over-year from fourth quarter 2016 -- wow
- oil represented 59% of production in fourth quarter 2017, compared to 55% in fourth quarter 2016
- production of 242,637 boe per day for full-year 2017, up 12% from full-year 2016 -- wow
- lowered debt by $261 million in fourth quarter 2017 and by an additional $95 million in January 2018
- $2.3 billion capital expenditures -- about the same as Hess
- estimate $3.0 to $3.2 billion of cash flow from operations and $800 to $900 million of free cash flow at $60 per barrel WTI and $3.00 per Mcf Henry Hub
- budget expected to be cash neutral in the low-to-mid- $40 's WTI
- 17% to 24% year-over-year production growth to 285,000 to 300,000 boe per day
- 10% to 15% projected return on capital employed (ROCE)
- ($3.50) to ($4.50) per bo oil differential
- $0.00 to +$0.50 per Mcf natural gas premium
- $3.00 to $3.50 per boe production expense
- $1.70 to $2.30 per boe total G&A
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