Rosetta Resources Inc. Announces Third Quarter Results

HOUSTON, Nov. 5, 2010 (GLOBE NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE) ("Rosetta" or the "Company") today announced financial and operating results for the third quarter of 2010 highlighted by continued positive results from its Eagle Ford resource play in South Texas. In less than one year, the liquids-rich region has become the largest producing area in the Company's portfolio.

Randy Limbacher, Rosetta's Chairman, CEO and President, said, "As we enter the final quarter of the year, the framework is in place for continued production growth and increased shareholder value. We continue to strengthen our position in the Eagle Ford play that is now the major base of production and reserves for the Company. During the quarter, we made significant progress on infrastructure projects that will ensure pipeline and processing capacity for current and projected production from the area for some time into the future. Better than expected results at Gates Ranch and successful drilling results on previously untested acreage are expanding our inventory of investment opportunities in the Eagle Ford play. We continue to assess an oil-producing province in the Southern Alberta Basin in northwest Montana. Our production is now comprised of more than 30 percent liquids and we will continue the sales of non-core assets to reduce our exposure to weak natural gas prices and to lower our cost structure. Rosetta today is a more focused, growth-oriented company with an extremely competitive position in one of the most active resource plays in the United States."

3Q 2010 FINANCIAL REVIEW

For the third quarter ended September 30, 2010, Rosetta reported net income of $8.9 million, or $0.17 per diluted share, versus a net income of $5.7 million, or $0.11 per diluted share, for the same period in 2009.

Production for the third quarter of 2010 averaged 144 million cubic feet of natural gas equivalent per day ("MMcfe/d"). Daily production was up 19 percent compared to the third quarter of 2009, primarily driven by the increase in production in the Eagle Ford, which averaged approximately 49 MMcfe/d for the third quarter, up from essentially zero a year ago. Sequentially versus the second quarter, average daily total volumes increased 7 percent, reflecting an increase of 20 MMcfe/d from the Eagle Ford.