Jagged Peak Energy Inc. announced unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenues of $70,451,000 compared with $22,064,000 a year ago. Income from operations was $10,283,000 compared with $4,441,000 a year ago. Loss before income taxes was $17,817,000 compared with income of $5,410,000 a year ago. Net loss was $15,219,000 or $0.07 per basic and diluted share compared with income of $5,410,000 a year ago. Net cash provided by operating activities was $45,423,000 compared $15,518,000 a year ago. Development of oil and natural gas properties was $153,964,000 compared with $30,654,000 a year ago. Other capital expenditures was $1,876,000 compared with $140,000 a year ago. Adjusted net income was $15,373,000 or $0.7 per basic and diluted share compared with $3,352,000 a year ago. Adjusted EBITDAX was $56,555,000 compared with $15,263,000 a year ago. Capital expenditures for drilling and completion activities were $158.9 million. Additionally, $3.6 million was spent on infrastructure and $7.8 million was spent to add over 2,200 net acres to the Company's leasehold position during the third quarter 2017.

For the nine months, the company reported total revenues of $162,890,000 compared with $51,645,000 a year ago. Loss from operations was $378,444,000 compared with income of $1,890,000 a year ago. Loss before income taxes was $363,658,000 compared with $7,789,000 a year ago. Net loss was $464,697,000 or $0.42 per basic and diluted share compared with $464,697,000 a year ago. Net cash provided by operating activities was $105,428,000 compared with $16,822,000 a year ago. Development of oil and natural gas properties was $349,176,000 compared with $84,809,000 a year ago. Other capital expenditures was $3,332,000 compared with $1,831,000 a year ago. Adjusted net income was $35,723,000 or $0.17 per basic and diluted share compared with loss of $769,000 a year ago. Adjusted EBITDAX was $124,966,000 compared with $32,952,000 a year ago.

For the third quarter, production volumes were 19,180 Boe/d (78% oil) for the quarter, an increase of 201% compared to the third quarter of 2016 and an increase of 30% compared to the second quarter 2017. The company produced oil of 1,383 MBbls compared to 484 MBbls a year ago. Natural gas was 1,136 MMcf compared to 282 MMcf a year ago. NGLs was 192 MBbls compared to 55 MBbls a year ago. Combined volumes was 1,765 MBoe compared to 586 MBoe a year ago. Daily combined volumes was 19,180 Boe/d compared to 6,366 Boe/d a year ago.

For the nine months of 2017, the company produced oil of 3,208 MBbls compared to 1,210 MBbls a year ago. Natural gas was 2,224 MMcf compared to 669 MMcf a year ago. NGLs was 406 MBbls compared to 141 MBbls a year ago. Combined volumes was 3,984 MBoe compared to 1,462 MBoe a year ago. Daily combined volumes was 14,594 Boe/d compared to 5,336 Boe/d a year ago.

For the quarter, the company recorded an impairment of unproved oil and natural gas properties of $257,000 compared to $7,000 a year ago.

The Company expects fourth quarter 2017 production to average 26,000 to 27,000 Boe/d, an increase of approximately 7,320 Boe/d, or 38%, at the mid-point compared to third quarter production. This is compared to previous guidance of 26,000 to 28,000 Boe/d.

The company revised operating guidance for full year 2017, Capital expenditures for development of oil and gas properties and infrastructure of approximately $550 to $575 million, excluding leasehold and surface additions - compared to previous guidance of $525 to $570 million. Approximately $530 to $550 million budgeted for drilling and completion costs - compared to previous guidance of $510 to $550 million. Approximately $20 to $25 million budgeted for water infrastructure construction costs, excluding any potential additions for surface acreage - compared to previous guidance of $15 to $20 million. Production of 17,500 to 17,800 Boe/d - compared to previous guidance of 17,500 to 18,000 Boe/d. 47 to 49 gross operated horizontal completions with an approximate average lateral length of 7,800' and an approximate average working interest of 94% - compared to previous guidance of 50 to 55 gross operated horizontal completions. General and administrative expense, excluding equity-based compensation, of $26.0 to $28.0 million - compared to previous guidance of $28.0 to $30.0 million. LOE per Boe of $2.50 to $3.00 - compared to previous guidance of $2.75 to $3.25 per Boe. Production and ad valorem taxes at 6.5% to 7.5% of unhedged production revenue.