Lonestar Resources 2016 Q2
Lonestar’s production climbed in the second quarter with Eagle Ford operations leading the way.
Related: Lonestar’s Eagle Ford Production Up 23%
In spite of a net loss of $12.8 million for the second quarter of 2016, Lonestar Resources registered a 13% increase in net oil and gas production to 6,573 Boe/d, compared to 5,804 Boe/d in the second quarter of 2015.
Other second quarter highlights include:
- Placed two new Eagle Ford shale wells on stream during May of the quarter
- Crude oil production rose 17% sequentially in the second quarter as Lonestar’s 2016 completions have all been in the crude oil window.
- Net loss of $12.8 million for 2Q16 versus a net loss of $8.4 million in 2Q15
- Adjusted EBITDAX was $16.0 million compared to $22.0 million for 2Q15
“The company continues to focus its technical and capital resources on the Eagle Ford shale where it generated a 17% increase in net oil and gas production over to 2Q, 2015 results to 5999 boe per day.”
In July Lonestar delisted from the Australian Stock Exchange and commenced trading on the NASDAQ Global Market under the symbol, “LONE”. This is a major step as the company moves closer to moving its parent company from Australia to the United States as a Delaware corporation.