Petroshale Inc. provided the production guidance. The company announced that production in the first half of 2019 has been impacted by one-time events as shut-in certain wells to protect them from nearby fracing activities and/or to install artificial lift. These events, as well as natural declines, will lead to average production in the first half of 2019 between 5,000 to 6,000 boepd. The company expects significantly higher average production in the second half of 2019 of 10,000 to 11,000 boepd with an estimated 2019 exit rate of approximately 11,000 boepd.

The company announces production results for the fourth quarter and year ended December 31, 2018. For the quarter, Production averaged 6,014 barrels of oil equivalent per day (84% liquids) in the fourth quarter of 2018, which is 184% higher than the same period in 2017. Crude Oil sales volume was 4,185 Bbl/d against 1,554 Bbl/d a year ago. Natural gas sales volume was 5,765 Mcf/d against 1,802 Mcf/d a year ago. NGLs sales volume was 868 Bbl/d against 266 Bbl/d a year ago.

For the year, the production averaged 5,630 boepd (87% liquids) in calendar 2018, an increase of 130% over 2017. Crude Oil sales volume was 4,134 Bbl/d against 1,878 Bbl/d a year ago. Natural gas sales volume was 4,520 Mcf/d against 1,770 Mcf/d a year ago. NGLs sales volume was 743 Bbl/d against 272 Bbl/d a year ago.