Lonestar Resources: Focused on Eagle Ford Shale

Lonestar Resources 2016 Q2

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.
— Doug Banister, CFO

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.

Read more here