Extraction Announces First-Quarter 2021 Results
Extraction Oil & Gas, Inc. (XOG)
Last extraction oil & gas, inc. earnings: 3/5 04:03 pm
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US:NASDAQ Investor Relations:
extractionog.com
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Source: GlobeNewswire
DENVER, May 24, 2021 (GLOBE NEWSWIRE) -- Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction” or the “Company”) today reported financial and operational results for the first quarter of 2021. First Quarter 2021 and Other Recent Highlights Emerged from bankruptcy on January 20, 2021 Achieved average net sales volumes of 72 MBoe/d, including 26 MBbl/d of crude oil and 18 MBbl/d of NGLs Revenue of $292 million for the first quarter of 2021 (Successor and Predecessor company periods combined(1)) compared to $165 million for the Predecessor company for the first quarter of 2020 Announced merger agreement with Bonanza Creek on May 10, 2021 Financial Results For the first quarter, Extraction reported crude oil, natural gas and NGL sales revenue of $292 million, as compared to $165 million during the first quarter of 2020, representing an increase of $127 million, driven primarily by higher crude oil, natural gas and NGL prices. Extraction reported net income of $960 million, or $
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