Rosetta Resources Inc. Announces 2013 Financial and Operational Results and Reaffirms 2014 Outlook

Rosetta Resources Inc. Announces 2013 Financial and Operational Results and
Reaffirms 2014 Outlook

  *Grew annual daily production and proved reserves by 34 percent and 39
    percent, respectively, versus 2012
  *Replaced 528 percent of production from all sources; 402 percent through
    drill bit
  *Increased total project inventory by 59 percent to 790 MMBoe
  *Added two additional Upper Eagle Ford pilot test areas
  *Reaffirms 2014 capital, volume and expense guidance

HOUSTON, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Rosetta Resources Inc.
(Nasdaq:ROSE) ("Rosetta" or the "Company") today reported fourth quarter 2013
net income of $29.5 million, or $0.48 per diluted share, versus net income of
$42.3 million, or $0.80 per diluted share, for the same period in 2012.
Adjusted net income (non-GAAP) for the quarter was $51.0 million, or $0.83 per
diluted share, versus $42.0 million, or $0.79 per diluted share in 2012. The
increase in non-GAAP net income was primarily due to production growth in core
areas.

For the year ended December 31, 2013, Rosetta reported net income of $199.4
million, or $3.39 per diluted share, versus net income of $159.3 million, or
$3.01 per diluted share, for the same period in 2012. Adjusted net income
(non-GAAP) for the year was $227.9 million, or $3.87 per diluted share, versus
$2.77 per diluted share in 2012. Adjusted net income increased versus 2012
primarily due to increased production and higher oil and gas prices. A summary
of the adjustments made to calculate adjusted net income is included in the
attached "Non-GAAP Reconciliation Disclosure" table.

"In 2013, Rosetta was successful in expanding our operations into a new basin
that added a significant number of future growth locations to our project
inventory. Our entry into the Delaware Basin provides a core asset in an
oil-rich unconventional resource area that is complementary to our core Eagle
Ford position, and we are accelerating development programs in both areas,"
said Jim Craddock, Rosetta's Chairman, CEO and President. "As we grow our
operations, project execution and financial discipline will be a priority
which will position Rosetta to continue to deliver strong returns and
long-term shareholder value."

2013 Fourth Quarter and Full Year Results

Production for the quarter averaged a record 52 thousand barrels of oil
equivalent per day ("MBoe/d"), an increase of 17 percent from the same period
in 2012 and 2 percent from the prior quarter. Production for the year averaged
50 MBoe/d, up 34 percent from 2012. The increase for all periods was a result
of production growth from the ongoing development of the Company's Eagle Ford
assets and production from the acquired Permian Basin assets. Oil production
in 2013 averaged 14 thousand barrels ("MBbls") per day, an increase of 43
percent from 2012. Natural gas liquids ("NGLs") daily production also
increased by 43 percent compared to the prior year. A summary of the Company's
quarterly and annual production results and average sales prices by commodity
is included in the attached "Summary of Operating Data" table.

Revenues for the fourth quarter of 2013 were $204.8 million compared to $178.3
million for the same period in 2012. Fourth quarter revenues including
realized derivatives were $217.9 million in 2013 and $177.7 million in 2012.
During the quarter, 82 percent of revenue was generated from oil, condensate
and NGL sales, including the effects of realized derivatives, as compared to
81 percent for the comparable period in the prior year.

For full-year 2013, revenues were $814.0 million compared to $613.5 million
for the same period in 2012. Full-year revenues, including realized
derivatives were $830.4 million in 2013 and $593.8 million in 2012. For the
year, 82 percent of revenue was generated from oil, condensate and NGL sales,
including the effects of realized derivatives, as compared to 81 percent a
year ago.

Direct lease operating expense ("LOE") for the fourth quarter was $2.61 per
barrel of oil equivalent ("BOE"), a decrease of eight percent versus the third
quarter on a per-unit basis. For full-year 2013, direct LOE increased by three
percent to $2.49 per BOE primarily due to the addition of Permian operations
in the second half of the year. Direct LOE for Eagle Ford operations decreased
by seven percent to $1.81 per BOE versus the prior year. A summary of the
Company's production and operating costs on a per-unit basis is included in
the attached "Summary of Operating Data" table.

2013 Proved Reserves

As previously reported, proved reserves as of December 31, 2013 increased by
39 percent to 279 million barrels of oil equivalent ("MMBoe"), comprised of 66
million barrels of crude oil and condensate, 99 million barrels of natural gas
liquids and 677 Bcf of natural gas. Of the total proved reserves, 60 percent
are liquids and 32 percent are classified as proved developed. Included in the
total are 83 MMBoe of reserves additions, primarily from development success
in the Eagle Ford shale, 23 MMBoe of reserves acquired during the year, and 11
MMBoe in net downward revisions. The revisions are primarily associated with
changes in projected condensate yields within the north central area of Gates
Ranch.

Rosetta replaced 528 percent of production from all sources including net
reserve additions from drilling activity, price revisions, proved acquisitions
and performance revisions. Finding and development costs, excluding proved
acquisitions, totaled approximately $12 per Boe to organically replace 402
percent of production. The estimated standardized measure of discounted future
net cash flows from Rosetta's proved reserves at December 31, 2013 was $2.3
billion, representing an increase of 25 percent from the prior year.

In 2013, the Company also achieved significant growth in total project
inventory with approximately 790 MMBoe of net risked resources, including
proved undeveloped reserves. The amount reflects a 59 percent increase to the
inventory portfolio as compared to year-end 2012.

Operational Update

In the fourth quarter of 2013, Rosetta made capital investments of
approximately $293 million, drilling 53 gross operated wells and completing 41
wells. Capital spending for full-year 2013 totaled $899 million, excluding
acquisitions. The Company drilled a total of 150 gross operated wells and
completed 113 gross wells. Capital spending included $600 million for drilling
and completion activity in the Eagle Ford shale where 111 wells were drilled
and 79 completed. The capital program also included approximately $66 million
for facilities projects. Several central production facilities were
constructed or upgraded during 2013 to handle the increased Eagle Ford
production.

EAGLE FORD

The Company operated five to seven rigs in the Eagle Ford area during the
quarter. At the end of the quarter, 61 drilled wells were awaiting completion
up from 53 in the prior quarter. The following table details Rosetta's Eagle
Ford gross well completion activity by area as of December 31, 2013:


              4Q 2013   2013      Completed Drilled Awaiting
              Completed Completed To Date   Completion
Gates Ranch    16        44        140       28
Briscoe Ranch  3         12        16        16
Karnes Trough  1         9         26        0
Central Dimmit 0         7         12        7
Tom Hanks      3         4         4         10
Lopez          2         3         3         0
Encinal        0         0         4         0
Eagle Ford     25        79        205       61


Daily production from the Eagle Ford was 48 MBoe/d in the fourth quarter, an
increase of nine percent from the prior year and flat versus the prior
quarter.Twenty-five gross wells were completed in the fourth quarter and 79
wells were completed during 2013.At Gates Ranch, 16 wells were completed and
no wells were added to the total of 28 drilled wells awaiting completion at
year-end 2013.Three wells were completed in the fourth quarter at Briscoe
Ranch with 12 total wells completed during 2013.Also, development continues
in both the Lopez area and the Tom Hanks lease where ten total wells have now
been drilled and completion activities are currently underway.

Well performance on Rosetta's largest Eagle Ford asset at Gates Ranch in Webb
County continues to be in line with expectations at 55-acre well spacing.
Approximately 292 of the estimated 432 Gates Ranch lower Eagle Ford well
locations remain to be completed.Gates Ranch well spacing tests continue with
two Upper Eagle Ford pilots on production.A third Upper Eagle Ford pilot area
was drilled during the fourth quarter and will soon be placed on
production.The Gates Ranch Upper Eagle Ford pilot areas are being closely
monitored by the Company's technical teams and plans are to update progress on
the initial two pilots later this year.

On the L&E lease in central Dimmit County, a fourth Upper Eagle Ford pilot has
been drilled and is now on production.Also in Dimmit County, 32 of the 68
planned well locations at Briscoe Ranch have been drilled with 16 on
production and 16 awaiting completion.In 2013, Rosetta successfully
delineated the Tom Hanks acreage in LaSalle County and full development is
underway. Four wells were completed in 2013 and by yearend 10 wells had been
drilled and are waiting on completion.

Since beginning operations in the Eagle Ford area, Rosetta has completed 205
gross horizontal Eagle Ford wells as of December 31, 2013.Approximately 76
percent of the Company's identified Eagle Ford inventory locations, excluding
Upper Eagle Ford, remain to be drilled and completed.In 2014, the Company
expects to drill and complete about 14 percent of the remaining lower Eagle
Ford locations.

PERMIAN BASIN

Rosetta's production from the Permian averaged approximately 3 MBoe/d in the
fourth quarter, an increase of 55 percent from the third quarter.The Company
operated five to six rigs in the Delaware Basin area during the fourth
quarter.During the quarter, 20 gross wells were drilled including 18 vertical
wells and 15 gross vertical wells were completed.The Company also completed
one gross operated horizontal well in the fourth quarter.

Rosetta is currently operating three horizontal rigs in Reeves County,
including one rig drilling the initial well of the Company's first multi-well
pad to begin testing well spacing.Also, completion operations are underway on
the second of three horizontal Wolfcamp wells spud during the fourth quarter
of 2013.Approximately 91 percent of Rosetta's identified Permian net
horizontal and vertical inventory locations remain to be drilled and
completed.

Financing and Derivatives Update

At the end of 2013, the Company's borrowing base and committed amount totaled
$800 million under Rosetta's Senior Revolving Credit Facility ("Credit
Facility").On February 24, 2014, Rosetta had no borrowings outstanding with
$800 million available for borrowing under the Credit Facility.

During January 2014, Rosetta placed additional derivative swap positions for
2015 NGL production and 2016 gas production.The attached "Derivatives
Summary" table outlines the Company's overall commodity derivatives position
as of February 24, 2014.

2014 Outlook

Rosetta's 2014 capital budget is $1.1 billion, excluding acquisition capital.
The previously announced capital program is based on a four to five-rig Eagle
Ford program and plans to drill and complete roughly 90 – 95 gross
wells.During 2014, the Company does not expect to increase its current count
of Eagle Ford drilled wells awaiting completion.The budget also includes a
six-rig Permian program, including plans to drill and complete approximately
50 – 55 gross operated wells in the Delaware Basin, about half of which are
horizontal wells.

Rosetta's capital project activity in 2014 will benefit from further
improvements in drilling and completion costs achieved during 2013.Eagle Ford
total well costs decreased by $0.5 million per well and now range from $6.0 -
$6.5 million per well, assuming average 5,000-foot laterals and 15 completion
stages.Permian vertical well costs have also declined as originally projected
and are currently averaging $3.6 million, with more recent well cost estimates
approaching $3.2 million per well.

The Company reaffirms the planned capital spending level and the previously
announced full year 2014 production guidance range of 60 – 65 MBoe/d.The
average oil ratio is expected to be approximately 30 percent in 2014 with
total liquids estimated at 63 percent.The Company's cost per unit expense
guidance for full year 2014 outlined in the attached "Summary of Guidance"
table is also reaffirmed.

Rosetta Resources Inc. is an independent exploration and production company
engaged in the acquisition and development of onshore unconventional resource
plays in the United States of America.The Company owns well delineated
positions in the Eagle Ford area in South Texas and in the Permian
Basin.Rosetta is based in Houston, Texas.

[ROSE-F]

Forward-Looking Statements

This press release includes forward-looking statements, which give the
Company's current expectations or forecasts of future events based on
currently available information. Forward-looking statements are statements
that are not historical facts, such as expectations regarding completion of
the proposed acquisition, drilling plans, including the acceleration thereof,
production rates and guidance, proven reserves, resource potential,
incremental transportation capacity, exit rate guidance, net present value,
development plans, progress on infrastructure projects, exposures to weak oil,
natural gas, and NGL prices, changes in the Company's liquidity, changes in
acreage positions, expected expenses, expected capital expenditures, and
projected debt balances. The assumptions of management and the future
performance of the Company are subject to a wide range of business risks and
uncertainties and there is no assurance that these statements and projections
will be met. Factors that could affect the Company's business include, but are
not limited to: the risks associated with drilling and completion of oil and
natural gas wells; the Company's ability to find, acquire, market, develop,
and produce new reserves; the risk of drilling dry holes; oil, liquids and
natural gas price volatility; derivative transactions (including the costs
associated therewith and the abilities of counterparties to perform
thereunder); uncertainties in the estimation of proved, probable, and possible
reserves and in the projection of future rates of production and reserve
growth; inaccuracies in the Company's assumptions regarding items of income
and expense and the level of capital expenditures; uncertainties in the timing
of exploitation expenditures; operating hazards attendant to the oil and
natural gas business; drilling and completion losses that are generally not
recoverable from third parties or insurance; potential mechanical failure or
underperformance of significant wells; midstream and pipeline construction
difficulties and operational upsets; climatic conditions; availability and
cost of material, equipment and services; the risks associated with operating
in a limited number of geographic areas, including the Permian; actions or
inactions of third-party operators of the Company's properties; the Company's
ability to retain and hire skilled personnel; diversion of management's
attention from existing operations while pursuing acquisitions or
dispositions; the Company's ability to integrate the newly acquired assets and
operations, including the assets acquired in the Permian; availability and
cost of capital; the strength and financial resources of the Company's
competitors; regulatory developments; environmental risks; uncertainties in
the capital markets; general economic and business conditions; changes in
commodity prices that were not anticipated in the acquisition of the assets
and operations in the Permian; industry trends; and other factors detailed in
the Company's most recent Form 10-K and other filings with the Securities and
Exchange Commission.If one or more of these risks or uncertainties
materialize (or the consequences of such a development changes), or should
underlying assumptions prove incorrect, actual outcomes may vary materially
from those forecasted or expected. The Company undertakes no obligation to
publicly update or revise any forward-looking statements except as required by
law.

References to quantities of oil or natural gas may include amounts that the
Company believes will ultimately be produced, but are not yet classified as
"proved reserves" under SEC definitions. We use the term "net risked
resources" to describe the Company's internal estimates of volumes of natural
gas and oil that are not classified as proved developed reserves but are
potentially recoverable through exploratory drilling or additional drilling or
recovery techniques.Estimates of net risked resources are by their nature
more speculative than estimates of proved reserves and accordingly are subject
to substantially greater risk of actually being realized by the
Company.Estimates of net risked resources may change significantly as
development provides additional data, and actual quantities that are
ultimately recovered may differ substantially from prior estimates.


Rosetta Resources Inc.
Consolidated Balance Sheet
(In thousands, except par value and share amounts)

                                                    December 31,
                                                    2013         2012
Assets                                                           
Current assets:                                                  
Cash and cash equivalents                            $193,784   $36,786
Accounts receivable                                  122,677     103,828
Derivative instruments                               4,307       14,437
Prepaid expenses                                     9,860       5,742
Deferred income taxes                                27,976      311
Other current assets                                 1,284       1,456
Total current assets                                 359,888     162,560
Oil and natural gas properties using the full cost               
method of accounting:
Proved properties                                    3,951,397   2,829,431
Unproved/unevaluated properties, not subject to      755,438     95,540
amortization
Gathering systems and compressor stations            168,730     104,978
Other fixed assets                                   26,362      16,346
                                                    4,901,927   3,046,295
Accumulated depreciation, depletion and              (2,020,879) (1,808,190)
amortization, including impairment
Total property and equipment, net                    2,881,048   1,238,105
                                                                
Other assets:                                                    
Debt issuance costs                                  25,602      7,699
Derivative instruments                               5,458       6,790
Other long-term assets                               4,622       262
Total other assets                                   35,682      14,751
Total assets                                         $3,276,618 $1,415,416
                                                                
Liabilities and Stockholders' Equity                             
Current liabilities:                                             
Accounts payable and accrued liabilities             $190,950   $122,210
Royalties and other payables                         78,264      61,637
Derivative instruments                               4,913       --
Total current liabilities                            274,127     183,847
Long-term liabilities:                                           
Derivative instruments                               433         563
Long-term debt                                       1,500,000   410,000
Deferred income taxes                                136,407     10,086
Other long-term liabilities                          17,317      6,921
Total liabilities                                    $1,928,284 $611,417
                                                                
Stockholders' equity:                                            
Preferred stock,$0.001 par value; authorized        --          --
5,000,000 shares; no shares issued in 2013 or 2012
Common stock, $0.001 par value; authorized
150,000,000 shares; issued 62,032,162 shares         61          53
and 53,145,853 shares at December 31, 2013 and
2012, respectively
Additional paid-in capital                           1,182,672   830,539
Treasury stock, at cost; 724,755 shares and 581,717
shares at December 31, 2013                          (24,592)    (17,479)
and 2012, respectively
Accumulated other comprehensive loss                 (108)       (63)
Retained earnings (Accumulated deficit)              190,301     (9,051)
Total stockholders' equity                           1,348,334   803,999
Total liabilities and stockholders' equity           $3,276,618 $1,415,416



Rosetta Resources Inc.
Consolidated Statement of Operations
(In thousands, except per share amounts)

                                             Year Ended December 31,
                                             2013       2012       2011
Revenues:                                                         
Oil sales                                     $475,119 $318,782 $156,284
NGL sales                                     198,966   160,461   125,301
Natural gas sales                             147,028   93,711    163,382
Derivative instruments                        (7,095)   40,545    1,233
Total revenues                                814,018   613,499   446,200
Operating costs and expenses:                                     
Lease operating expense                       53,336    35,138    28,822
Treating and transportation                   71,338    51,826    22,316
Taxes, other than income                      31,075    24,013    18,151
Depreciation, depletion and amortization      218,571   154,223   123,244
Reserve for commercial disputes               20,450    --        --
General and administrative costs              73,043    68,731    75,256
Total operating costs and expenses            467,813   333,931   267,789
Operating income                              346,205   279,568   178,411
Other expense (income):                                           
Interest expense, net of interest capitalized 35,957    24,316    21,291
Interest income                               (2)       (7)       (42)
Other expense, net                            314       60        903
Total other expense                           36,269    24,369    22,152
                                                                 
Income before provision for income taxes      309,936   255,199   156,259
Income tax expense                            110,584   95,904    55,713
Net income                                    $199,352 $159,295 $100,546
                                                                 
Earnings per share:                                               
Basic                                         $3.40    $3.03    $1.93
Diluted                                       $3.39    $3.01    $1.91
                                                                 
Weighted average shares outstanding:                              
Basic                                         58,571    52,496    51,996
Diluted                                       58,830    52,887    52,616



Rosetta Resources Inc.
Consolidated Statement of Cash Flows
(In thousands)

                                           Year Ended December 31,
                                           2013         2012       2011
Cash flows from operating activities:                             
Net income                                  $199,352   $159,295 $100,546
Adjustments to reconcile net income to net                        
cash provided by operating activities:
Depreciation, depletion and amortization    218,571     154,223   123,244
Deferred income taxes                       100,876     95,904    56,170
Amortization of deferred loan fees recorded 8,421       2,856     2,248
as interest expense
Stock-based compensation expense            10,979      18,539    29,010
Loss (gain) due to change in fair value of  16,345      (19,662)  (12,124)
derivative instruments
Change in operating assets and liabilities:                       
Accounts receivable                         (18,849)    (26,454)  (41,215)
Prepaid expenses                            21          (2,780)   (226)
Other current assets                        172         680       287
Long-term assets                            (108)       650       (450)
Accounts payable and accrued liabilities    37,370      (19,997)  765
Royalties and other payables                16,627      10,948    37,409
Other long-term liabilities                 3,413       (3,572)   (8,863)
Income taxes                                (2,181)     --        --
Derivative instruments                      --          --        12,736
Net cash provided by operating activities   591,009     370,630   299,537
Cash flows from investing activities:                             
Acquisitions of oil and gas assets          (956,892)   --        --
Additions to oil and gas assets             (871,092)   (622,168) (432,951)
Disposals of oil and gas assets             (1,304)     88,527    242,588
Net cash used in investing activities       (1,829,288) (533,641) (190,363)
Cash flows from financing activities:                             
Borrowings on Credit Facility               670,000     290,000   --
Payments on Credit Facility                 (880,000)   (110,000) (100,000)
Repayments on Restated Term Loan            --          (20,000)  --
Issuance of Senior Notes                    1,300,000   --        --
Proceeds from issuance of common stock      329,008     --        --
Deferred loan fees                          (28,280)    (1,980)   (3,150)
Proceeds from stock options exercised       4,981       910       3,792
Purchases of treasury stock                 (7,113)     (6,183)   (4,400)
Excess tax benefit from share-based awards  6,681       --        --
Net cash provided by (used in) financing    1,395,277   152,747   (103,758)
activities
                                                                 
Net increase (decrease) in cash             156,998     (10,264)  5,416
Cash and cash equivalents, beginning of     36,786      47,050    41,634
year
Cash and cash equivalents, end of year      $193,784   $36,786  $47,050
                                                                 
Supplemental disclosures:                                         
Cash paid for interest expense, net of      $24,824    $20,834  $19,044
capitalized interest
Cash paid (received) for income taxes       $2,941     $(105)   $(405)
                                                                 
Supplemental non-cash disclosures:                                
Capital expenditures included in Accounts   $118,725   $88,844  $57,546
payable and accrued liabilities



Rosetta Resources Inc.
Summary of Operating Data
(In thousands, except percentages and per unit amounts)

                 Three Months Ended December 31, Twelve Months Ended December
                                                  31,
                                      % Change                      % Change
                 2013      2012      Increase/   2013     2012     Increase/
                                      (Decrease)                    (Decrease)
                                                              
Daily production                                               
by area (Boe/d):
Eagle Ford        48,065   44,163   9%          47,614  35,853  33%
Permian           3,463    --      100%        1,832   --     100%
Lobo              --      --      0%          --     733     (100%)
Other             220      176      25%         200     601     (67%)
Total (Boe/d)     51,748   44,339   17%         49,646  37,187  34%
                                                              
                                                              
Daily production:                                              
Oil (Bbls/d)      14,962   11,673   28%         13,695  9,553   43%
NGLs (Bbls/d)     17,439   15,895   10%         17,529  12,218  43%
Natural Gas       116,079  100,629  15%         110,528 92,494  19%
(Mcf/d)
Total (Boe/d)     51,748   44,339   17%         49,646  37,187  34%
                                                              
                                                              
Average sales                                                  
prices:
Oil, excluding
derivatives       $88.60  $90.52  (2%)        $95.04 $91.16 4%
($/Bbl)
Oil, including
realized          88.55    88.13    0%          93.74   89.66   5%
derivatives
($/Bbl)
NGL, excluding
derivatives       34.12    31.18    9%          31.10   35.88   (13%)
($/Bbl)
NGL, including
realized          34.73    33.44    4%          32.83   37.84   (13%)
derivatives
($/Bbl)
Natural gas,
excluding         3.62     3.34     8%          3.64    2.77    31%
derivatives
($/Mcf)
Natural gas,
including
realized          3.77     3.69     2%          3.76    3.28    15%
derivatives
($/Mcf)
Total (excluding
realized          $45.24  $42.58  6%          $45.31 $42.09 8%
derivatives)
($/Boe)
Total (including
realized          $45.76  $43.57  5%          $45.82 $43.63 5%
derivatives)
($/Boe)
                                                              
                                                              
Average costs                                                  
(per Boe):
Direct LOE        $2.61   $2.46   6%          $2.49  $2.42  3%
Workovers         0.98     0.35     180%        0.39    0.09    333%
Insurance         0.05     0.05     0%          0.06    0.07    (14%)
Treating and      3.97     3.55     12%         3.94    3.81    3%
Transportation
Taxes, other than 1.43     1.59     (10%)       1.71    1.76    (3%)
income (1)
DD&A              13.69    11.50    19%         12.06   11.33   6%
G&A, excluding
stock-based       3.68     3.38     9%          3.42    3.69    (7%)
compensation
Interest expense  2.09     1.47     42%         1.98    1.79    11%
                                                              
(1) includes production taxes and ad                             
valorem taxes



Rosetta Resources Inc.
Derivatives Summary
Status as of February 24, 2014

                                   Notional    Average         Average
                                      Daily
           Settlement Derivative     Volume      Floor Prices    Ceiling
                                                                  Prices
Product     Period     Instrument     Bbl         per Bbl         per Bbl
Crude oil   2014       Costless       3,000       83.33          109.63
                       Collar
                                                             
Crude oil   2014       Swap           6,000       93.13          
Crude oil   2015       Swap           10,000      88.58          
Crude oil   2016       Swap           1,000       84.40          
                                                             
                                                             
                                   Notional                   
                                      Daily
           Settlement Derivative     Volume      Fixed Prices    
Product     Period     Instrument     Bbl         per Bbl         
NGLs        2014       Swap           10,000      37.10          (Includes
                                                                  Ethane)
NGLs        2015       Swap           5,000       31.87          (Includes
                                                                  Ethane)
                                                             
                                                             
                                   Notional    Average         Average
                                      Daily
           Settlement Derivative     Volume      Floor/Fixed     Ceiling
                                                  Prices          Prices
Product     Period     Instrument     MMBtu       per MMBtu       per MMBtu
Natural gas 2014       Costless       50,000      3.60           4.94
                       Collar
Natural gas 2015       Costless       50,000      3.60           5.04
                       Collar
                                                             
Natural gas 2014       Swap           30,000      4.07           
Natural gas 2015       Swap           40,000      4.18           
Natural gas 2016       Swap           20,000      4.02           

                            Rosetta Resources Inc.
                      Non-GAAP Reconciliation Disclosure
                   (In thousands, except per share amounts)

The following table reconciles net income (GAAP) to adjusted net income
(non-GAAP) for the three months and twelve months ended December 31, 2013 and
December 31, 2012.Adjusted net income eliminates the unrealized derivative
activity from our financial commodity derivative transactions, transaction and
financing costs associated with the Company's Permian Acquisition, and charges
for commercial disputes, all of which affect the comparability of operating
results, along with the related tax effects.The Company uses this information
to analyze operating trends and for comparative purposes within the industry.
This measure is not intended to replace the GAAP statistic but rather to
provide additional information that may be helpful in evaluating the Company's
operational trends and performance.

                     Three months ended December Twelve months ended December
                      31,                         31,
                     2013          2012          2013           2012
Net income (GAAP)     $29,495     $42,340     $199,352     $159,295
Unrealized derivative 13,064       (593)        16,345        (19,662)
loss (gain)
Transaction and       125          --           7,958         --
financing costs
Reserve for           20,450       --           20,450        --
commercial disputes
Tax (benefit)         (12,154)     214          (16,169)      7,098
expense
Adjusted net income   $50,980     $41,961     $227,936     $146,731
(Non-GAAP)
                                                             
                                                             
Net income per share                                          
(GAAP)
Basic                 $0.48       $0.81       $3.40        $3.03
Diluted               0.48         0.80         3.39          3.01
                                                             
Adjusted net income                                           
per share (Non-GAAP)
Basic                 $0.83       $0.80       $3.89        $2.80
Diluted               0.83         0.79         3.87          2.77



Rosetta Resources Inc.
Summary of Guidance
                                       
                                      2014 Full Year
                                              
MBoe/d                                          
2014 Average Daily Production           60      - 65
                                              
$/BOE                                           
Direct Lease Operating Expense          $2.85 - $3.10
Workover Expenses                       0.60    - 0.70
Insurance                               0.05    - 0.05
Ad Valorem Tax                          0.65    - 0.75
Treating and Transportation             4.20    - 4.60
Production Taxes                        1.30    - 1.40
DD&A                                    14.60   - 16.05
G&A, excluding Stock-Based Compensation 3.40    - 3.70
Interest Expense                        2.55    - 2.80

CONTACT: Investor Contact:
        
         Antoinette D. (Toni) Green
         Vice President, Investor Relations & Planning
         Rosetta Resources Inc.
         info@rosettaresources.com

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