EP Energy Corporation reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2017. For the quarter, the company reported total operating revenues of $286 million against $327 million a year ago. Net income was $18 million compared to net loss of $47 million a year ago. EBITDAX was $224 million. Adjusted EBITDAX was $189 million compared to $172 million a year ago. Basic and diluted net income per common share was $0.07 against basic and diluted net loss per common share $0.19 a year ago. Capital expenditures were $208 million against $152 million a year ago. Operating income was $62 million against $89 million a year ago. Income before income taxes was $18 million against loss before income taxes of $47 million a year ago. Adjusted diluted LPS was $0.07 against $0.10 a year ago. Net cash provided by operating activities was $87 million against $117 million a year ago. The company ended the quarter with approximately $600 million of available liquidity and $4.2 billion of net debt (total debt of $4.2 billion less cash of $19 million).

In the first quarter of 2018, the company reported Oil production of 45.4 MBbls/d and total production of 80.1 MBbls/d.

The company provided production guidance for the second quarter and full year of 2018. For the quarter, the company expects total production in the range of 80 MBoe/d to 82 MBoe/d. The company expects oil production in the range of 47 MBbls/d to 49 MBbls/d.

For the year, the company expects total production in the range of 81 MBoe/d to 87 MBoe/d. The company expects oil production in the range of 46 MBbls/d to 50 MBbls/d.

The company announced that total CapEx spend anticipation is still the same between $600 million and $650 million for 2018. That includes though the $60 million roughly of new projects, the bulk of which that money is going to be spent in the first 2 quarters of the year.