Rosehill Resources Announces 2017 Proved Reserves More Than Doubled to 31 Million BOE With PV-10 Value More Than Quadrupling
Rose Hill Acquisition Corporation - Class A Ordinary Shares (ROSE)
Last rose hill acquisition corporation - class a ordinary shares earnings: 11/7 05:00 pm
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US:NASDAQ Investor Relations:
ir.rosehillresources.com
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Source: GlobeNewswire
HOUSTON, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Rosehill Resources Inc. (“Rosehill” or the “Company”) (NASDAQ:ROSE) (NASDAQ:ROSEW) (NASDAQ:ROSEU) announced year-end 2017 proved reserves rose to 31.1 million barrels of oil equivalent (“MMBOE”), up 135% from 13.2 MMBOE at year-end 2016. Rosehill’s reserve estimates as of December 31, 2017 and 2016 were prepared by Ryder Scott Company, L.P. The Company also provides a brief operational update focused on the preliminary development plan of the White Wolf acquisition acreage in 2018. Highlights and Recent Key Items: Increased proved reserves to 31.1 MMBOE (determined under SEC guidelines) with a PV-10 of $368 million at year-end 2017, up 135% and 353%, respectively, from December 31, 2016 (see Non-GAAP Measure disclosure below for discussion of PV-10);Proved reserve additions of 21.1 MMBOE resulted in a reserve replacement ratio of 997% (total of extensions, discoveries, revisions, and purchases, divided by annual production using
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