Rosehill Resources Inc. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2018. For the quarter, total revenue was $55,786,000 against $17,501,000 a year ago. Operating income was $15,074,000 against $3,254,000 a year ago. Loss before income taxes was $9,946,000 against income before income taxes of $4,500,000 a year ago. Net loss was $7,756,000 against net income of $4,414,000 a year ago. Net cash provided by operating activities was $18,872,000 against $8,758,000 a year ago. Purchases of other property and equipment was $799,000 against $89,000 a year ago. Additions to oil and natural gas properties were $109,310,000 against $8,159,000 a year ago. Adjusted EBITDAX totaled $34.9 million for the first quarter of 2018, as compared to $18.8 million in the fourth quarter of 2017. This increase of 86% was driven by higher production, higher percentage of total production being comprised of oil and increased commodity pricing. Net loss attributable to Rosehill Resources Inc. common stockholders was $1,341,000 or $0.22 per diluted share against income of $4,414,000 or $0.75 per diluted share a year ago. The first quarter of 2018 included an $18.2 million non-cash, pre-tax loss on commodity derivative instruments.

In the first quarter of 2018, the company's net daily production averaged 12,256 net BOEPD, a 67% increase compared to the fourth quarter of 2017 average, comprised of 9,433 barrels of oil per day, 1,433 barrels of natural gas liquids ("NGLs") per day and 8.4 million cubic feet of gas ("MMCF") per day. The realized prices for the first quarter before the effect of hedges averaged $60.72 per barrel of oil, $1,928 per barrel for NGLs and $2.32 per Mcf for natural gas. This resulted in a total equivalent price of $50.58 per BOE on an unhedged basis. Production increased 67% from the fourth quarter as it began the production ramp.