Resolute Energy Corporation announced unaudited consolidated earnings and production results for fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenue of $62,667,000, net loss of $20,648,000 adjusted EBITDA of $48,986,000 compared to total revenue of $28,498,000, net loss of $92,180,000 adjusted EBITDA of $27,796,000 for the same quarter a year ago. During the fourth quarter of 2016 the company realized a 47% increase in adjusted revenue (revenue including commodity derivative settlements), a non-GAAP measure, as compared to the prior year quarter due to increased production attributable to positive results from the 2016 drilling program in the Permian Basin offset by decreased derivative settlement gains. Adjusted revenue for the quarter was $81.0 million, including the effect of commodity derivative settlement gains of $18.4 million. During the fourth quarter of 2015, the company had adjusted revenue of $55.1 million, including the effect of commodity derivative settlement gains of $26.6 million. During the quarter ended December 31, 2016, the company incurred oil and gas related capital expenditures of approximately $34.3 million, excluding acquisitions of $158.5 million, proceeds from divestitures of $3.6 million and capitalized interest of $2.7 million. The company reported a fourth quarter loss of $1.23 per diluted share compared with a loss of $6.15 per share a year ago.

For the year, the company reported total revenue of $164,478,000, loss from operations of $91,506,000, loss before income taxes of $161,631,000, net loss of $161,722,000 or $10.33 per basic and diluted share, adjusted EBITDA of $140,809,000 compared to the total revenue of $154,644,000, loss from operations of $776,704,000, loss before income taxes of $764,633,000, net loss of $742,279,000 or $9.91 per basic and diluted share, adjusted EBITDA of $129,277,000 for the previous year. During 2016, the company realized a 2% increase in adjusted revenue as compared to 2015, due to the reasons noted for the quarterly increase. Adjusted revenue for 2016 was $252.5 million, including the effect of commodity derivative settlement gains of $88.0 million. During 2016, the company incurred oil and gas related capital expenditures of approximately $132.9 million, excluding acquisitions of $158.5 million, proceeds from divestitures of $38.9 million and capitalized interest of $4.1 million.


For the quarter, the company total production was 1,802 MBoe compared to 946 MBoe a year ago.

For the year, the company total production was 5,182 MBoe compared to 4,536 MBoe a year ago.