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For Immediate Release
WildHorse Resource Development Corporation Announces Third Quarter Results
HOUSTON, November 8, 2017 WildHorse Resource Development Corporation (NYSE: WRD) announced today its operating and financial results for the three months ended September 30, 2017.
Operational highlights from third quarter 2017 include:
|||Increased average daily production by 161% to 36.6 Mboe/d for the third quarter 2017 compared to 14.0 Mboe/d for the third quarter 2016|
|||Brought online 27 gross (27.0 net) Eagle Ford wells and 1 gross (1.0 net) Austin Chalk well in the third quarter of 2017|
|||Total of 68 gross Gen 3 Eagle Ford wells are now online averaging above WRDs Eagle Ford type curve of 91 boe per foot|
|||Brought online 3 additional wells outside of Cawley, Gillespie & Associates (CGA) and managements 3P area|
|||Drilled 10 gross wells on the recently acquired Anadarko/KKR acreage|
|||Experienced minimal downtime from Hurricane Harvey resulting in approximately 175 boe/d of shut in gross production during the third quarter|
|||Gained efficiencies on drilling and completions with no increases in cycle times|
|||Achieved an average drilling time of 13.4 days from spud to rig release on all Eagle Ford rigs in the third quarter of 2017|
|||Continued successful testing of Eagle Ford refracs with two additional tests online in the third quarter of 2017|
Financial highlights from third quarter 2017 include:
|||Reported a Net Loss available to common stockholders of $17.3 million or ($0.17) per share for the third quarter 2017. Reported Adjusted Net Income available to common stockholders(1) of $11.6 million or $0.12 per share for the third quarter 2017|
|||Reported Adjusted EBITDAX(1) of $98.4 million for the third quarter 2017 compared to $23.7 million for the third quarter 2016|
The following information was filed by Wildhorse Resource Development Corp (WRD) on Wednesday, November 8, 2017 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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