This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rosetta Resources Inc. Announces Record Production And Proved Reserves For 2013 And Delaware Basin Update

  • Increased total annual daily production to 50 MBoe/d or 34 percent growth over 2012
  • Achieved 39 percent growth in proved reserves to 279 MMBoe, or 528 percent production replacement
  • Established preliminary ultimate recovery estimate for Delaware Basin horizontal upper Wolfcamp wells
  • Executed definitive agreement to acquire 5,000-acre bolt-on acquisition in the Delaware Basin

HOUSTON, Jan. 30, 2014 (GLOBE NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE) ("Rosetta" or the "Company") today reported preliminary operational results for 2013 that includes growth in excess of 30 percent for both production and proved reserves. The Company also announced plans to acquire additional Delaware Basin acreage to expand its core Reeves County position. Rosetta plans to report final 2013 financial and operational results on Monday, February 24, 2014.

"In 2013, we continued to deliver competitive growth in production and reserves while expanding our operations into a new basin," said Jim Craddock, Rosetta's Chairman, CEO and President. "We remain focused on developing our Eagle Ford assets and committed to fully advancing our Permian Basin operations."

2013 Production and Capital Program Results

Fourth quarter production averaged a record 52 thousand barrels of oil equivalent per day ("MBoe/d"), up 17 percent from the same period in 2012 and 2 percent from the prior quarter. Total liquids production for the fourth quarter averaged 32 thousand barrels per day ("MBbls/d").

For the full-year, production averaged 50 MBoe/d. Total daily production increased by 34 percent versus the prior year while total liquids production increased by 43 percent over the same period. Production growth reflects continued progress in the development of the Company's Eagle Ford assets.

In 2013, Rosetta's capital expenditures, excluding proved acquisitions, totaled $899 million. The Company drilled a total of 150 gross operated wells and completed 113 gross wells. Capital spending included $600 million for drilling and completion activity in the Eagle Ford shale where 111 wells were drilled and 79 completed.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs