RRC remains Rock Solid
Posted: Wed Feb 27, 2013 3:14 pm
2012 Highlights –
•Reports record annual production of 753 Mmcfe per day, an increase of 36% over 2011, with fourth quarter oil and NGL volumes increasing 41%
• Reports 29% increase in total proved reserves to 6.5 Tcfe, with oil and NGL reserves increasing 64%
• Drill bit reserve replacement of 773% at $0.86 per mcfe all-in finding and development cost
• Fourth quarter adjusted non-GAAP cash flow of $1.54 per share exceeds average First Call consensus estimates by 18 cents
• Fourth quarter adjusted non-GAAP earnings of $0.46 per share exceeds average First Call consensus estimates by 17 cents
• Unit costs continue to decline, highlighted by 32% reduction in lease operating costs compared to 2011
• Innovative marketing arrangements increased price realizations from propane exports
• Unrisked resource potential increases to 48 - 68 Tcfe, including 2.3 – 3.5 billion barrels of oil and NGLs
• Asset sale agreement recently executed for $275 million
I will have the forecast updated shortly. RRC is by far the safest way to add more natural gas exposure to your portfolio.
•Reports record annual production of 753 Mmcfe per day, an increase of 36% over 2011, with fourth quarter oil and NGL volumes increasing 41%
• Reports 29% increase in total proved reserves to 6.5 Tcfe, with oil and NGL reserves increasing 64%
• Drill bit reserve replacement of 773% at $0.86 per mcfe all-in finding and development cost
• Fourth quarter adjusted non-GAAP cash flow of $1.54 per share exceeds average First Call consensus estimates by 18 cents
• Fourth quarter adjusted non-GAAP earnings of $0.46 per share exceeds average First Call consensus estimates by 17 cents
• Unit costs continue to decline, highlighted by 32% reduction in lease operating costs compared to 2011
• Innovative marketing arrangements increased price realizations from propane exports
• Unrisked resource potential increases to 48 - 68 Tcfe, including 2.3 – 3.5 billion barrels of oil and NGLs
• Asset sale agreement recently executed for $275 million
I will have the forecast updated shortly. RRC is by far the safest way to add more natural gas exposure to your portfolio.