JAG -- Earnings Call -- 4Q18 And FY18

JAG, from its webpage:

Jagged Peak is a pure play growth-oriented, independent oil and natural gas company focused on the development of its top-tier contiguous acreage position in the heart of the Delaware basin, a sub-basin of the Permian Basin in West Texas.

With approximately 75,000 net acres in the adjacent counties of Winkler, Ward, Reeves and Pecos, Jagged Peak has identified more than 2,000 drilling locations targeting significant original oil-in-place within multiple stacked hydrocarbon-bearing formations.

By using advanced drilling and completion techniques and leveraging our management team’s extensive experience and technical expertise we are positioned to execute on maximizing returns to shareholders. 

Presentations: link here.

Updates

May 21, 2019: based on recent presentation, it looks like about 35,000 bopd, maybe 40,000 boepd, off 75,000 acres. The better operators in the Bakken are getting about that same amount of production out of 175,000 net acres. Just a rough guess.

May 21, 2019: from CNBC, April 9, 2019 --

Original Post

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JAG.

Jagged Peak Energy, Inc.

Website here.

Permian play.

4Q18 and FY18 earnings call, link here.

• core development: Whiskey River, Wolfcamp A 
• capital allocation, focused on three areas
• Whiskey River: 50%; all but 1 of the Whiskey River wells will be on multi-well pads
• Chochise: will bring on 7 wells in 2019; will commence drilling a 9-well co-development pilot that will come online in 1Q20
• Big Tex: bring online 5 wells in a high-graded fairway; of the 5, one will target the Woodford interval; it was where their first successful test was in 2017; if the 5 are "good," then consider an additional 7 wells for 2H19
• 2019 rig program: 5 rigs throughout the year; one frack spread
• may add spot frack crews to keep up with pace of drilling
• it looks like optimizing a 4-rig or 5-rig / one frack spread
• free cash flow: another 18 to 30 months before we might see FCF, and it is highly dependent on WTI price
• Cochise, 9-well co-development pilot: 3 well pads; test 3 different landing zones in that particular area, so JAG will have the third Bone Spring and then 2 landing zones within the Wolfcamp A; will start drilling 3Q19; should be completed by late 4Q19 or early 2020
• 758 completed lateral feet in 2018
• 1,400 completed lateral feet in first six wells in 2019 due to design changes
• $1,250 per foot completion
• sand: all regional since May, 2018
• analyst noted: more wells coming on line but BOE seems to be decreasing; response from JAG: due to delays inherent in pad driling
• wrote off some acreage in 4Q18 after seismic work; suggested that it was a "thousand acres" but I may have that wrong

Much more at the link.