September 22, 2017 11:46 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Jagged Peak Energy Inc.

Company Overview

Jagged Peak Energy Inc., an independent oil and natural gas company, focuses on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware basin, a sub-basin of the Permian basin of West Texas. As of December 31, 2016, it held a 92% average working interest in approximately 66,393 net acres; and had 37,695 thousand barrel of oil equivalent of estimated net proved reserves, as well as owned a 98% average working interest in 49 net productive wells. The company was founded in 2013 and is headquartered in Denver, Colorado.

1125 17th Street

Suite 2400

Denver, CO 80202

United States

Founded in 2013

52 Employees

Phone:

720-215-3700

Key Executives for Jagged Peak Energy Inc.

Chairman, Chief Executive Officer and President
Age: 64
Total Annual Compensation: $324.5K
Executive Vice President of Land & Acquisitions
Age: 62
Total Annual Compensation: $248.7K
Compensation as of Fiscal Year 2016.

Jagged Peak Energy Inc. Key Developments

Jagged Peak Energy Inc. Revises Production Guidance for the Third Quarter and Full Year 2017

Jagged Peak Energy Inc. revised production guidance for the third quarter and full year 2017. For the quarter, the company announced a revised production guidance range of 19,150 to 19,350 barrels of oil equivalent per day (Boe/d) with the fourth quarter 2017 production guidance range remaining at 26,000 to 28,000 Boe/d. This guidance range for the third quarter is down from 20,000 to 20,800 Boe/d previously announced primarily due to the following three issues: Due to pipeline curtailment notices related to Hurricane Harvey, the Company shut-in certain wells, including 4 wells that remained off-line to opportunistically install electric submersible pumps (ESP) ahead of the original schedule. All wells temporarily curtailed due to Hurricane Harvey are now back on production. Two non-operated wells were originally scheduled to begin producing in July 2017, but did not begin production until September 2017. The company owns a 50% working interest in these 2 wells. Due to scheduling conflicts related to a shared completion fleet, the completion of 2 wells was delayed by approximately 3 weeks each. As of September 12, both wells have been completed and are on production. The company is currently deploying three completion fleets and will continue to operate three fleets through the end of the year and beyond. As a result of these changes to the production guidance range for the third quarter of 2017, the company has updated its full year 2017 estimated production range to 17,500 to 18,000 Boe/d. For the full year, the company continues to expect to spud 54 to 58 operated and to complete 50 to 55 operated wells with timing dictated by optimal development of its assets including multiple well pads and multiple zone completions. Adjusting full year production guidance for actual results for the first half of the year and the updated third quarter guidance resulted in a tightened full year production guidance range of 17,500 to 18,000 Boe/d, which, at the low end, is 212% above 2016 production.

Jagged Peak Energy Inc. Presents at Barclays CEO Energy-Power Conference, Sep-07-2017 11:45 AM

Jagged Peak Energy Inc. Presents at Barclays CEO Energy-Power Conference, Sep-07-2017 11:45 AM. Venue: Sheraton New York Times Square, 811 Seventh Avenue, New York, New York, United States. Speakers: Joseph N. Jaggers, Chairman, Chief Executive Officer and President.

Jagged Peak Energy Inc. Appoints J. Jay Stratton, Jr. as Executive Vice President and Chief Operating Officer

Jagged Peak Energy Inc. announced the appointment of J. Jay Stratton, Jr. as its Executive Vice President, Chief Operating Officer. Most recently, Mr. Stratton was the Chief Operating Officer of Permian Resources LLC, the successor to American Energy Partners'Permian Basin portfolio company where he served since 2014. Prior to that, he was a District Manager for Permian Basin and Mid-Continent assets for Chesapeake Energy Corporation since 2011.

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