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Roan Resources Q2 adjusted results sag YOY

Roan Resources Inc. on Aug. 7 reported an adjusted second-quarter net income of $16.9 million, or 11 cents per share, down from the adjusted net income of $32.7 million, or 21 cents per share, posted for the second quarter of 2018.

The company's GAAP net income came in at $27.2 million, compared to the net loss of $22.8 million seen during the same quarter a year ago.

Total revenues came in at $134.2 million for the quarter, up from $36 million posted a year ago.

Average daily volumes came in at 50,800 barrels of oil equivalent per day in the second quarter, increasing from the 36,100 boe/d posted a year ago. The company previously increased its second-quarter production guidance to more than 50,000 boe/d.

Average prices for the quarter came in at $20.99/boe, down from the $27.56/boe posted a year prior.