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Post Earnings Coverage as Jagged Peak Reported First Annual Results Post its IPO

Upcoming AWS Coverage on International Tower Hill Mines Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 5, 2017 / Active Wall St. announces its post-earnings coverage on Jagged Peak Energy Inc. (NYSE: JAG). The Company posted its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on March 23, 2017. The Denver, Colorado-based Company's production volumes surged 89% y-o-y. Register with us now for your free membership at:


One of Jagged Peak Energy's competitors within the Gold space, International Tower Hill Mines Ltd. (NYSE MKT: THM), reported on March 15, 2017, that its audited year-end financial statements and associated management discussion and analysis and year-end report on Form 10-K for the year ended December 31, 2016. AWS will be initiating a research report on International Tower Hill Mines in the coming days.

Today, AWS is promoting its earnings coverage on JAG; touching on THM. Get our free coverage by signing up to:


Earnings Reviewed

During Q4 FY16, Jagged Peak's total revenues increased to $24.88 million from $10.86 million recorded at the end of Q4 FY15. The Company's Oil, natural gas, and NGL (Natural Gas Liquids) sales volume was $24.67 million in Q4 FY16 compared to $10.83 million in Q4 FY15. Moreover, other operating revenues during the reported quarter were $0.21 million versus $0.03 million in prior year's comparable quarter.

The oil and gas Company reported net loss of $1.97 million, or $0.01 loss per pro-forma common share, in Q4 FY16 compared to net loss of $6.79 million, or $0.03 loss per pro-forma common share, in Q4 FY15. Meanwhile, the Company posted adjusted net income in Q4 FY16 of $3.89 million compared to $1.27 million in the previous year's comparable quarter.

For full year FY16, Jagged Peak's operating revenues stood at $76.52 million compared to $33.85 million in FY15. The Company's net loss during FY16 was $9.76 million, or $0.05 loss per pro-forma common share, versus net loss of $7.48 million, or $0.04 loss per pro-forma common share, in FY15. Moreover, the Company reported adjusted net income of $4.66 million in FY16 compared to $3.62 million in FY15.

Operating Metrics

Jagged Peak total operating expenses increased during Q4 FY16 to $18.75 million from $17.76 million in the past year's comparable quarter. The Company reported income from operations during Q4 FY16 to $6.12 million against loss from operation of $6.90 million in Q4 FY15. Furthermore, adjusted earnings before interest, taxes, depreciation, depletion, amortization, and exploration expenses (EBITDAX) for Q4 FY16 stood at $16.04 million compared to $9.59 million in the year ago same period.

In Q4 FY16, Jagged Peak's oil production volume increased to 492 thousand barrels (MBbls), from 259 MBbls in Q4 FY15. The quarterly production volume of natural gas totaled 283 million cubic feet (MMcf) in Q4 FY16, higher than 134 MMcf in the prior year's comparable quarter. Natural gas liquids (NGL) production volume also increased during Q4 FY16 to 53 MBbls from 32 MBbls in Q4 FY15. Furthermore, total production during the reported quarter was 592 thousand barrels of oil equivalent (MBoe) compared to 313 MBoe in Q4 FY15. Meanwhile, average production during Q4 FY16 was 6,438 barrels of oil equivalent per day (Boe/d) compared to 3,399 Boe/d in Q4 FY15.

Cash Matters and Balance Sheet

In the quarter ended on December 31, 2016, Jagged Peak generated $15.21 million as net cash provided by operating activities compared to $8.47 million in the prior year's same quarter. The Company's cash and cash equivalents balance stood at $11.73 million as on December 31, 2016, compared to $14.17 million at the close of books on December 31, 2015. Furthermore, the Company's total long-term debt increased to $132.00 billion as on December 31, 2016, from $20.00 billion as on December 31, 2015.


On January 26, 2017, Jagged Peak announced the pricing of its initial public offering of 31.60 million shares of its common stock at $15.00 per share. Jagged Peak offered 28.33 million shares of its common stock for sale; while 3.27 million were offered for sale by the stockholders named in the registration statement on Form S-1, previously filed with SEC. The shares started trading on the New York Stock Exchange under the ticker symbol "JAG" on January 27, 2017.


For full year FY17, Jagged Peak expects production range of 17,000 Boe/d to 19,000 Boe/d, a projected rise between 203% to 238% y-o-y. Lease Operating Expenses (LOE) for FY17 is anticipated to be between of $3.00 per Boe and $3.75 per Boe. Furthermore, capital expenditures in FY17 are projected to be in the approximate range of $555 million to $605 million.

Stock Performance

At the close of trading session on Tuesday, April 04, 2017, Jagged Peak's stock price climbed 3.47% to end the day at $13.42. A total volume of 662.13 thousand shares were exchanged during the session. The stock currently has a market cap of $2.83 billion.

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