Centennial Resource Development Announces Full Year 2017 Results, 2017 Year-End Reserves, 2018 Guidance and Increases 2020 Oil Production Target
Centennial Resource Development, Inc. - Class A (CDEV)
Last centennial resource development, inc. - class a earnings: 2/24 04:14 pm
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US:NASDAQ Investor Relations:
ir.cdevinc.com
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Source: GlobeNewswire
DENVER, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ:CDEV) today announced financial and operational results for the full year 2017 and 2018 operational plans and targets. Recent Financial and Operational Highlights: Increased fourth quarter daily crude oil production 30% quarter-over-quarterGrew 2017 daily oil and equivalent production volumes 233% and 278% year-over-year, respectivelyDelivered strong well results from the Northern and Southern Delaware Basins Successfully completed wells in the 3rd Bone Spring Sand and Carbonate in Reeves County, TexasIncreased 2017 total proved reserves 125% at attractive finding and development costs with organic reserves replacement ratio over 950%Acquired approximately 4,000 net acres in Lea County, New Mexico adjacent to Company’s existing position Announced pending sale of approximately 8,600 mostly non-operated net acres in Reeves County, Texas Financial and Operational P
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