Jagged Peak Energy Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total revenues were $24,877,000 against $10,858,000 a year ago. Income from operations was $6,124,000 against loss of $6,902,000 a year ago. Net loss was $1,971,000 or $0.01 per pro forma common share against $6,785,000 or $0.03 per pro forma common share a year ago. Net cash provided by operating activities was $15,208,000 against $8,467,000 a year ago. Development of oil and natural gas properties was $54,709,000 against $24,545,000 a year ago. Other capital expenditures were $138,000 against $9,000 a year ago. Adjusted net income was $3,888,000 against $1,268,000 a year ago. Adjusted EBITDAX was $16,043,000 against $9,589,000 a year ago. Capital expenditures for oil and gas were $83.7 million and included drilling and completing 5 gross (5.0 net) wells along with the 10 gross (9.9 net) wells in progress at the end of the year.

For the year, the company reported total revenues were $76,522,000 against $33,851,000 a year ago. Income from operations was $8,014,000 against loss of $8,610,000 a year ago. Net loss was $9,760,000 or $0.05 per pro forma common share against $7,484,000 or $0.04 per pro forma common share a year ago. Net cash provided by operating activities was $32,083,000 against $20,372,000 a year ago. Development of oil and natural gas properties was $139,571,000 against $96,743,000 a year ago. Other capital expenditures were $1,969,000 against $213,000 a year ago. Adjusted net income was $4,657,000 against $3,617,000 a year ago. Adjusted EBITDAX was $48,995,000 against $26,510,000 a year ago. Capital expenditures for oil and gas activities were $215.1 million in 2016 and included drilling and completing 11 gross (10.9 net) wells and 10 gross (9.9 net) wells that were in various stages of being drilled or completed at the end of the year. 

For the quarter, the company reported oil production of 492 MBbls against 259 MBbls a year ago. Natural gas production was 283 MMcf against 134 MMcf a year ago. NGLs production was 53 MBbls against 259 MBbls a year ago.

For the year, the company reported oil production of 1,702 MBbls against 718 MBbls a year ago. Natural gas production was 953 MMcf against 404 MMcf a year ago. NGLs production was 194 MBbls against 89 MBbls a year ago.

The company is providing the following guidance for its full-year 2017 activities. Capital expenditures of approximately $555 to $605 million.

For 2017, the company expects production in the range of 17,000 to 19,000 Boe/d an increase of 221% at the midpoint from 2016 production levels.

The Company expects first quarter 2017 production to average 9,100 Boe/d to 9,300 Boe/d.