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BRIEF-Centennial Resource Development announces full year 2016 results

March 22 Centennial Resource Development Inc -

* Announces full year 2016 results, year-end 2016 reserves and 2017 operational and financial guidance

* Says announced full year 2017 total capital budget of approximately $543 million

* Achieved net oil production of approximately 10,000 barrels per day ("bbls/d"), as of mid-February 2017

* Says plan to drill and complete approximately 60 to 70 wells during 2017

* Expect to grow 2017 oil production approximately 158% from 5,757 bbls/d in 2016 to 14,850 bbls/d

* Says centennial is targeting total company production growth of 191 pct during 2017

* Expect to increase 2017 total company production by about 191 pct from 8,429 boe/d in 2016 to 24,500 boe/d

* For full year 2017, Centennial has 675.3 mbbls of oil hedged at a weighted average fixed price of $50.41 per barrel Source text for Eikon: Further company coverage:

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