Sundance Energy Australia Limited announced impairment expense for the second quarter ended June 30, 2019. For the quarter, the company's impairment expense was $5,761,000 compared to $18,936,000 a year ago.

The company brought 6.0 gross (6.0 net) wells onto production during the second quarter, including the 4.0 gross (4.0 net) well Roy Esse pad in Live Oak County and the 2.0 gross (2.0 net) well Bracken pad in McMullen County. During the second quarter the Company additionally drilled the 4.0 gross (4.0 net) well HT Chapman pad and the first two wells of the 4.0 gross (4.0 net) well H Harlan Bethune pad in Live Oak County. Year to date the Company's average spud to rig release time was 11.5 days, an improvement of 33% as compared to 2018 average spud to rig release time of 17.24 days. The Company exited the quarter with 6.0 gross (6.0 net) drilled uncompleted (“DUC”) wells in Live Oak County. The HT Chapman pad was turned to sales on 14 August 2019. Drilling of the final two wells of the H Harlan Bethune pad was finalized and the pad is in the process of being completed as of the date of this report. The Company additionally completed the 4.0 gross (4.0 net) well Georgia Buck pad in Live Oak County but delayed turning those wells to sales and left them temporarily shut in to protect them while an offset operator finalized nearby completion activities.

During the third quarter, the Company anticipates average sales volumes of 14,000 to 14,500 boe per day driven by 12 new Live Oak wells that will produce an average of approximately 30 days per well during the quarter. The Company now intends to bring 22 wells online during full year 2019, with certain of those wells being extended reach laterals. During the third quarter, the Company intends to spud 4 total wells and place 12 wells onto production.

Sales volumes guidance for full year 2019 remains unchanged at 14,000 to 15,000 boe per day.