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Harvest Oil & Gas Announces Third Quarter 2019 Results
Harvest Oil & Gas Announces Third Quarter 2019 Results.
About this update from Harvest Oil & Gas Corporation
[{"type":"text","content":"\n HOUSTON, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) today announced results for the third quarter of 2019 and the filing of its Form 10-Q with the Securities and Exchange Commission (“SEC”) on November 14, 2019. Key Highlights Paid a one-time $7.00 cash dividend per share on October 28, 2019 to shareholders of record as of October 18, 2019Entered into a new $10 million revolving credit facility with Regions BankAverage daily production was 98.1 MMcfe for the third quarter of 2019Completed previously announced sale of certain oil and gas interests in the Barnett Shale for $62.4 million, net of preliminary purchase price adjustments, and anticipate a subsequent closing for an additional $6.4 million, subject to purchase price adjustments, in the fourth quarter of 2019Completed previously announced sale of certain oil and gas properties in the Mid-Continent area for $5.3 million, net of preliminary purchase price adjustmentsIn conjunction with the Barnett Shale and Mid-Continent area divestitures, unwound certain commodity derivative contracts for cash settlements received of $7.9 millionIn October 2019, signed a definitive agreement to sell its Permian Basin oil and gas interests for $3.0 million, subject to purchase price adjustments, which is expected to close at the end of the fourth quarter of 2019 Third Quarter 2019 Financial Results              Third Quarter Second Quarter$ in millions unless noted otherwise  2019 2019Average daily production (MMcfe/d)    98.1     112.3  Total revenues  $ 23.2   $ 30.6  Total assets    289.9     317.9  Net loss    (19.5)    (60.9) Adjusted EBITDAX (a non-GAAP  financial measure) (1)    9.7     6.9  Total debt    -     -  Net cash provided by operating activities    14.9     9.7  Additions to oil and natural gas properties (2)  ...