Resolute Energy Corporation reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenue of $73,380,000 against $70,260,000 a year ago. Income from operations was $13,171,000 against $14,413,000 a year ago. Net loss available to common stockholders was $5,002,000 or $0.22 per basic and diluted share against net profit of $10,690,000 or $0.47 per basic and diluted share a year ago. Adjusted EBITDA was $33,667,000 against $38,719,000 a year ago. Adjusted revenue of $64,037,000 against $71,916,000 a year ago. Adjusted net loss of $1,573,000 or $0.07 per diluted share against income of $7,426,000 or $0.32 per diluted share a year ago.
For the six months, the company reported total revenue of $148,098,000 against $134,852,000 a year ago. Income from operations was $14,739,000 against $22,803,000 a year ago. Net loss available to common stockholders was $19,128,000 or $0.86 per basic and diluted share against net profit of $10,766,000 or $0.47 per basic and diluted share a year ago. Adjusted EBITDA was $74,742,000 against $71,234,000 a year ago. Adjusted revenue of $131,478,000 against $136,258,000 a year ago. Adjusted net income of $1,691,000 or $0.07 per diluted share against loss of $2,191,000 or $0.10 per diluted share a year ago.

For the quarter, the company reported total production of 2,187 MBoe compared to 2,216 MBoe a year ago. Daily rate was 24,036 Boe compared to 24,355 Boe a year ago.

For six months, the reported total production of 4,302 MBoe compared to 3,989 MBoe a year ago. Daily rate was 23,769 Boe compared to 22,041 Boe a year ago.

For the year 2018, the Permian Basin oil production is expected to increase 51% year-over-year to 15,593 Bbl per day based on the mid-point of guidance, from 10,315 Bbl per day in 2017. For the full year the Company expects oil production of 5.6 million barrels at the mid-point of guidance, up 51% from 2017 Permian oil production.
For the third quarter 2018, Permian Basin oil production is expected to increase 58% year-over-year and 68% over second quarter 2018 based on the mid-point of third quarter production guidance of 34,000 to 37,000 Boe per day. The Company expects that third quarter production will average approximately 50% oil. At the mid-point of guidance, the Company anticipates third quarter oil production of 1.7 million barrels, up approximately 70% from third quarter 2017 Permian oil production.
For the third quarter 2018, the company expects Adjusted EBITDA is expected to increase significantly based on results from the Company's pad development program.
For the second half, the Company expects to see strong growth in both oil and total production over the second half of 2018 and into 2019.