EP Energy Corporation Reports Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Production Guidance for the First Quarter and Full Year of 2018
For the year, net loss was $194 million against $27 million a year ago. EBITDAX was $619 million against $753 million a year ago. Adjusted EBITDAX was $691 million against $1,039 million a year ago. Loss per share was $0.79. Adjusted loss per share was $0.39. Capital expenditures were $587 million, up from $488 million in the same period 2016.
Fourth quarter 2017 average daily production was 80.6 MBoe/d, including 43.6 MBbls/d of oil. The decrease in the third and fourth quarter production is due to the timing of Eagle Ford activity that was focused early in 2017.
For the year ended December 31, 2017, average daily production was 82.3 MBoe/d, including 46.1 MBbls/d of oil.
For the first quarter of 2018, the company expects total production of 77 79 MBoe/d.
For the year 2018, the company expects total production of 81 87 MBoe/d. The company expects $135 million non-drill capital including; $55 million for general equipment, $30 million for capitalized G&A and interest.