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Title : JAG -- Earnings Call -- 4Q18 And FY18
link : JAG -- Earnings Call -- 4Q18 And FY18

JAG -- Earnings Call -- 4Q18 And FY18

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JAG.

Jagged Peak Energy, Inc.

Website here.

Permian play.

4Q18 and FY18 earnings call, link here.

• core development: Whiskey River, Wolfcamp A 
• capital allocation, focused on three areas
• Whiskey River: 50%; all but 1 of the Whiskey River wells will be on multi-well pads
• Chochise: will bring on 7 wells in 2019; will commence drilling a 9-well co-development pilot that will come online in 1Q20
• Big Tex: bring online 5 wells in a high-graded fairway; of the 5, one will target the Woodford interval; it was where their first successful test was in 2017; if the 5 are "good," then consider an additional 7 wells for 2H19
• 2019 rig program: 5 rigs throughout the year; one frack spread
• may add spot frack crews to keep up with pace of drilling
• it looks like optimizing a 4-rig or 5-rig / one frack spread
• free cash flow: another 18 to 30 months before we might see FCF, and it is highly dependent on WTI price
• Cochise, 9-well co-development pilot: 3 well pads; test 3 different landing zones in that particular area, so JAG will have the third Bone Spring and then 2 landing zones within the Wolfcamp A; will start drilling 3Q19; should be completed by late 4Q19 or early 2020
• 758 completed lateral feet in 2018
• 1,400 completed lateral feet in first six wells in 2019 due to design changes
• $1,250 per foot completion
• sand: all regional since May, 2018
• analyst noted: more wells coming on line but BOE seems to be decreasing; response from JAG: due to delays inherent in pad driling
• wrote off some acreage in 4Q18 after seismic work; suggested that it was a "thousand acres" but I may have that wrong

Much more at the link

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