Lonestar Resources US Inc. Reports Production Results for the Fourth Quarter and Year Ended December 31, 2019; Reports Impairment of Oil and Gas Properties for the Fourth Quarter Ended December 31, 2019; Provides Production Guidance for 2020
For the year, total production was 5,543,120 barrels of oil equivalent against 4,071,700 barrels of oil equivalent a year ago.
The company reported impairment of oil and gas properties of $48,412,000 for the fourth quarter ended December 31, 2019.
Based on this range of capital spending, Lonestar is issuing updated 2020 production guidance of 16,000 to 16,500 Boe/d, which is approximately 7% higher than 2019 volumes, at the mid-point.