Sundance Energy Australia Limited reported consolidated cash flow and production results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net cash used in operating activities of USD 1,568,000 and payments to acquire property, plant and equipment of USD 7,567,000.

For the year, the company reported net cash used in operating activities was USD 34,603,000. The company had total capital expenditures of USD 84 million, of which it spent USD 43 million on drilling and completions, USD 14 million on facilities and field infrastructure projects, USD 23 million on acquisitions and USD 4 million on leasing. Of this total USD 19 million was expended in the fourth quarter. These expenditures were funded with internally generated cash flow, proceeds from the equity offering in mid-2016 and the USD 7 million received from assets divested in the fourth quarter.

The company's daily production rate for the fourth quarter of 2016 was approximately 7,900 barrels of oil equivalent per day.

The company's daily production rate for the full year of 2016 was approximately 6,400 barrels of oil equivalent per day (BOED).

The company believes the company's production in 2017 can grow to a range of 7,700 BOED to 8,500 BOED.

The company expects production in fourth quarter of 2017 between 9,000 BOED and 10,000 BOED.

The company estimates its 2017 capital expenditures will range between USD 80 million and USD 88 million. The company continuing with the sale process for the company's assets in the Anadarko Basin, which the company hope to have completed during the first half of 2017. The proceeds from this sale, combined with the company estimated 2017 EBITDA of USD 80 million - USD 85 million and the cash on the company's balance sheet at the end of 2016, should provide enough liquidity to support the company's 2017 drilling and completion budget, with the possibility of a modest outspend to the forecast.