Lonestar Resources US Inc. announced the initial production test results on its Burns Ranch wells and the addition of new crude oil hedges. Lonestar has commenced flowback operations on its Burns Ranch #8H, #9H and #10H wells. While an average of 5% of the frac load has been recovered from each of these wells thus far, preliminary production data from these wells is encouraging. In its recently-completed wells ("Gen 5"), Lonestar utilized longer lateral lengths, engineered completions using diverters, and in two of the wells, higher proppant concentrations than its first set of wells drilled at Burns Ranch in 2015 ("Gen 3"). The Company has registered 24-hour test rates of 723 barrels of oil equivalent per day (BOE per day) on the #8H well, which has a perforated lateral length of 9,518 feet and was fracture stimulated with a proppant concentration of 1,487 pounds per foot. The #9H well, which has a perforated lateral length of 9,449 feet and was fracture stimulated with a proppant concentration of 2,005 pounds per foot, registered a 24-hour test rate of 831 BOE per day. 24-hour test rates on the #10H well were 789 BOE per day, which has a perforated lateral length of 8,456 feet and was fracture stimulated with a proppant concentration of 2,025 pounds per foot. It should be noted that oil cuts currently average 35% among the three wells, and the wells are being choke-managed to restrict gas-oil ratios. While the production results are preliminary, Lonestar is encouraged by the fact that the oil produced thus far on its three new Gen 5 wells exceeds the oil produced of its offsetting Gen 3 wells by 25%, on average, despite being currently produced on a smaller choke. Further, oil produced per lateral foot thus far on its Gen 5 wells exceeds the oil produced per lateral foot of its offsetting Gen 3 wells by 12%, on average. Since December 31, 2016, Lonestar has added to its hedge positions for both 2017 and 2018. For calendar 2017, the Company added 377 barrels per day of crude oil swaps at an average price of $56.00 per barrel. For calendar 2018, the Company added 1,000 barrels per day of crude oil swaps at an average price of $55.60 per barrel. The Company also entered into a costless collar for 500 barrels per day at a floor of $50.00 per barrel and a ceiling of $59.45 per barrel. Lonestar's current natural gas hedge positions are comprised of a swap for 7,000 MMBTU per day at a price of $3.36 for 2017.