JAG - Jagged Peak : A Pre-Call Note - Big Tex Takes A Back Seat - Discipline Should Be Applauded
Jagged Peak (JAG) Reported Solid 4Q18 Results; 2019 Program To Focus on WC A in Whiskey River and Cochise (Big Tex takes a back seat); Slowing Down Like Everyone Else to Limit Outspend.
The 4Q18 Numbers
- Oil differential: ($11.05) vs the 3Q18 differential of ($13.49)
- Operating costs: LOE was near low end of range for the full year
2018 Capex: Came in at $690.8 (D&C) and $711 mm total vs total guidance of $668 to $702 mm (The $711 mm figure should not draw any analyst fire).
2018 Volumes: 34.2 MBOEpd (up