February 26, 2018 / 9:19 PM / in 8 months

BRIEF-Centennial Resource Development Reports Q4 Earnings Per Share $0.12

Feb 26 (Reuters) - Centennial Resource Development Inc :

* CENTENNIAL RESOURCE DEVELOPMENT ANNOUNCES FULL YEAR 2017 RESULTS, 2017 YEAR-END RESERVES, 2018 GUIDANCE AND INCREASES 2020 OIL PRODUCTION TARGET

* Q4 EARNINGS PER SHARE $0.12

* INCREASED Q4 DAILY CRUDE OIL PRODUCTION 30% QUARTER-OVER-QUARTER

* ‍INCREASED 2020 OIL PRODUCTION GROWTH TARGET FROM 60,000 TO 65,000 BARRELS PER DAY​

* EXPECT TO GROW 2018 CRUDE OIL PRODUCTION APPROXIMATELY 85% YEAR-OVER-YEAR

* EXPECT TO INCREASE 2018 TOTAL COMPANY PRODUCTION APPROXIMATELY 86% YEAR-OVER-YEAR

* ANNOUNCED FULL YEAR 2018 TOTAL CAPITAL BUDGET OF $885 MILLION TO $1,050 MILLION

* QTRLY CRUDE OIL PRODUCTION INCREASED 30% TO 27,402 BBLS/D COMPARED TO Q3 2017

* CENTENNIAL REPORTED A 125% INCREASE IN YEAR-END 2017 TOTAL PROVED RESERVES TO 186,454 MBOE Source text for Eikon: Further company coverage:

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