Lonestar Resources US Inc. announced unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenues of $18,135,000 against $17,803,000 a year ago. Loss from operations was $32,580,000 against $6,130,000 a year ago. Loss before income taxes was $35,369,000 against $19,089,000 a year ago. Net loss attributable to common stockholders was $23,457,000 or $1.07 basic and diluted per share against $12,844,000 or $1.71 basic and diluted per share a year ago. Net cash provided by operating activities was $4,377,000 against net cash used in operating activities of $10,181,000 a year ago. Acquisition of oil and gas properties was $106,615,000 against $652,000 a year ago. Development of oil and gas properties was $18,908,000 against $4,417,000 a year ago. Purchases of other property and equipment were $1,509,000 against $2,720,000 a year ago. LBITDAX was $13,794,000 against $365,000 a year ago. Adjusted EBITDAX was $12,651,000 against $16,037,000 a year ago. Loss before income taxes, as adjusted was $1,456,000 against $15,151,000 a year ago. Net loss after preferred dividends excluding certain items, a non-GAAP measure was $1,246,000 or $0.06 basic and diluted per share against $10,184,000 or $1.35 basic and diluted per share a year ago. Adjusted EBITDAX increased by 10%, Lonestar's operating cost structure was pretty noisy with LOE increased by Battlecat and Marquis acquisitions and several nonrecurring charges, many of which were related to the acquisitions.

For the six months, the company reported total revenues of $35,751,000 against $28,999,000 a year ago. Loss from operations was $33,912,000 against $18,814,000 a year ago. Loss before income taxes was $30,717,000 against $36,182,000 a year ago. Net loss attributable to common stockholders was $20,392,000 or $0.93 basic and diluted per share against $24,142,000 or $3.21 basic and diluted per share a year ago. Net cash provided by operating activities was $17,112,000 against $7,533,000 a year ago. Acquisition of oil and gas properties was $108,179,000 against $2,717,000 a year ago. Development of oil and gas properties was $37,750,000 against $19,003,000 a year ago. Purchases of other property and equipment were $1,522,000 against $177,000 a year ago. EBITDAX was $8,032,000 against $3,862,000 a year ago. Adjusted EBITDAX was $24,184,000 against $29,630,000 a year ago. Income before income taxes, as adjusted was $3,381,000 against loss before income taxes, as adjusted of $31,513,000 a year ago. Net income after preferred dividends excluding certain items, a non-GAAP measure was $1,911,000 or $0.09 basic and diluted per share against net loss after preferred dividends excluding certain items, a non-GAAP measure of $20,861,000 or $2.77 basic and diluted per share a year ago.

For the quarter, the company reported impairment of oil and gas properties of $27,081,000 against $1,938,000 a year ago.

For the quarter, the company reported total barrels of oil equivalent of 5,635 Boe/d against 6,573 Boe/d a year ago.

For the six months, the company reported total barrels of oil equivalent of 5,452 Boe/d against 6,564 Boe/d a year ago.

The company estimates that net oil and gas production for the third quarter will average between 7,600 and 8,100 BOE a day, which would represent a sequential increase of 35% to 44% over second quarter of 2017 production and will keep getting oilier as the table suggests.

For the fourth quarter of 2017, the company expects production could range from 8,000 BOE a day to 9,500 BOE a day.