The rate was higher still in the month of September at 94,400 boepd, representing a 5% rise compared to June - the third month of quarter two.
It highlighted the successful and ongoing integration of acquired assets along with progress in its ‘smarter well management’ programme - which comprises well reactivations, refurbishments and retirements.
"The pace of activity at DGO has remained high during recent months as we've closed three additional margin-enhancing acquisitions and continue to fully integrate those upstream and midstream assets into our portfolio,” Rusty Hutson, DGOC chief executive said in a statement.
He added: “Our Smarter Well Management efforts continue to deliver outstanding results with production from our legacy assets at approximately 70,000 barrels of oil equivalent per day, nearly identical to the equivalent production 16 months ago and nearly 7% better than the expected performance of these wells over that period of time.”
“Recognising the challenging commodity price environment in which we now operate, we understand that now more-than-ever it is critical that we actively manage the business to align our costs with our revenues,” he added.
Hutson also highlighted “proactively taken steps” to align its robust hedging efforts.
“Collectively, these efforts position us to deliver stabilised cash flows, as seen in our ongoing strong cash margins in excess of 50%, and to make consistent distributions to our shareholders,” Hutson noted.
The company told investors that third-quarter adjust underlying earnings (EBITDA) amounted to US$64mln, marking a 28% improvement versus the same period a year before.
It said that US$51mln was distributed to shareholders, with US$23mln paid in dividends and US$28mln spent on share buy-backs. The company noted that its dividend payment date has been revised, to 20 December from 18 December at the request of its share registrar.
DGOC pointed out that it has a low-cost structure that positions the group positively against lower commodity prices.
Completion of financing
In a separate statement, DGOC confirmed the completion of its US$200mln securitised financing arrangement which was announced last month. The debt security carries a 5% coupon and has a 17-year final maturity.
Hutson noted: "Our new securitised financing structure provides DGO with access to a high-quality capital base and allows the company to diversify and enhance the duration of our debt capital structure while simultaneously enhancing liquidity.
“As an acquisitive growth company, the ability to fix attractive rates for a 10+ year period on a portion of our debt while freeing capacity on our revolving credit facility is paramount to our continued success and demonstrates to sellers of assets our ability to transact," he concluded.