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Reported adjusted EBITDAX1 of $301 million; an adjusted EBITDAX margin1 of 38%; an adjusted EBITDAX per BOE1 of $25.13, which was the highest since 2015; net cash provided by operating activities of $158 million
First quarter 2019 average daily production of 133,000 barrels of oil equivalent (BOE) per day, an 8% increase over the prior year period; oil production increased 9% over the prior year period
Invested $138 million of total capital, including internally funded capital of $104 million
Drilled 42 wells with internally funded capital and 18 wells with JV capital
Sold a 50% working interest and transferred operatorship in portions of a field for consideration in excess of $200 million, consisting of approximately $168 million in cash and a carried 200-well development program, for a valuation of $88,000 per flowing barrel including the carry
The following information was filed by California Resources Corp (CRC) on Thursday, May 2, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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