Harvest Oil & Gas Corp. Announces Unaudited Consolidated Operating Results for the Second Quarter and Six Months Ended June 30, 2019; Reports Impairment Charges for the Second Quarter of 2019; Provides Production Guidance for the Third Quarter and Fourth Quarter of 2019
The company reported production for the six months of 2019 was 15,506 mmcf of natural gas, 324 MBbls of oil and 853 MBbls of natural gas liquids (NGLs), or 22,571 mmcfe of net production.
For the second quarter of 2019, the company reported impairment of oil and natural gas properties of $73,151,000.
Subsequent to the announcement of the Barnett Shale and Mid-Continent area divestitures, Harvest has updated guidance for the third and fourth quarters of 2019. For the third quarter of 2019, the company expects natural gas production of 5,515 6,096 mmcf, crude oil production of 130 144 mbbls, natural gas liquids of 239 265 mbbls, total net production of 7,732 8,546 mmcfe, average daily production of 84 93 mmcfe per day.
For the fourth quarter of 2019, the company expects natural gas production of 3,218- 3,557 mmcf, crude oil production of 108 -119 mbbls, natural gas liquids of 45-49 mbbls, total net production of 4,134- 4,569 mmcfe, average daily production of 45- 50 mmcfe per day.