DENVER, October 21, 2019 – Shares of Sundance Energy Australia Limited (NASDAQ: SNDE) showed the bullish trend with a higher momentum of 5.05% to $1.00. The company traded total volume of 14.341K shares as contrast to its average volume of 28.44K shares. The company has a market value of $68.62M and about 68.76M shares outstanding.
Sundance Energy Australia Limited (ASX:SEA) (SNDE) reported first quarter net sales volumes of 1.107M boe or 12.302K boe per day, at the top end of the Company’s public guidance. This represents an increase of ~87% as compared to the same period for the prior year. First quarter sales volumes were ~63% oil, ~22% gas and ~15% NGLs.
Total revenue for the quarter increased ~99% to US $47.70M as compared to the same prior year period. Net Loss attributable to owners of the Company for the period was US $31.40M, largely attributable to an unrealized loss on hedging of $37.10M. Adjusted EBITDAX for the period was US $31.70M, representing a ~62% Adjusted EBITDAX margin.
As of 16 May 2019, the Company’s oil hedges covered a total of 5.371M barrels through 2023. Hedging covered approximately ~7.776K barrels of oil per day for the remainder of 2019 with a weighted average floor of US $61.09. These figures exclude hedges which have rolled off during the first four months of 2019.
First quarter development and production related expenditures totaled US $41.30M primarily driven by the Company drilling faster than expected, incurring incremental capital costs of approximately $11.0M which will reduce 2H 2019 capital expenditures.
The stock, as of recent close, has shown the weekly downbeat performance of -6.73% which was maintained at -57.20% in this year.