Last $18.54 USD
Change Today -0.24 / -1.28%
Volume 176.5K
LRE On Other Exchanges
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Berlin
As of 6:40 PM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).

lrr energy lp (LRE) Key Developments

LRR Energy, L.P. Announces Quarterly Cash Distribution, Payable on August 14, 2014

LRR Energy announced that the Board of Directors of its general partner declared an increased cash distribution for the second quarter of 2014 of $0.4950 per outstanding unit, or $1.98 on an annualized basis. The distribution will be paid on August 14, 2014, to all unitholders of record as of the close of business on July 31, 2014.

LRR Energy, L.P. Announces Entry into A Material Definitive Agreement

On June 6, 2014, LRR Energy, L.P. entered into the third amendment to second lien credit agreement by and among the partnership, as parent guarantor, LRE Operating, LLC, as borrower, the lenders from time to time party thereto and Wells Fargo Energy Capital Inc., as administrative agent, that, among other things, amends the term loan agreement to exclude certain sales of common units representing limited partner interests in the Partnership made on and before September 30, 2014 from compliance with the mandatory prepayment provision under the term loan agreement that requires the partnership to use 50% of the net cash proceeds from any equity offering to repay borrowings outstanding under the term loan agreement. The foregoing description of the third amendment is not complete and is qualified in its entirety by reference to the full text of the third amendment.

LRR Energy, L.P. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2014; Provides Production and Capital Expenditure Guidance for the Full Year of 2014

LRR Energy, L.P. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenues of $26,028,000 compared to $17,780,000 a year ago. Operating income was $5,603,000 compared to operating loss of $4,847,000 a year ago. Income before taxes was $2,768,000 compared to loss before taxes of $6,997,000 a year ago. Net income available to unit holders was $2,694,000 or $0.10 per basic and diluted share compared to net loss available to unit holders of $7,450,000 or $0.32 per basic and diluted share a year ago. Net cash provided by operating activities was $16,126,000 compared to $11,151,000 a year ago. Development of oil and natural gas properties was $6,803,000 compared to $4,387,000 a year ago. Adjusted EBITDA was $21,041,000 compared to $16,242,000 a year ago. Distributable cash flow was $13,353,000 compared to $8,860,000 a year ago. For the first quarter, total cash capital expenditures totaled $6.8 million. The majority of the capital was invested in Red Lake field. For the quarter, the company reported oil production of 218 MBbls, natural gas production of 1,622 MMcf, NGLs production of 85 MBbls and average net production of 6,367 Boe/d against oil production of 188 MBbls, natural gas production of 1,808 MMcf, NGLs production of 72 MBbls and average net production of 6,233 Boe/d a year ago. For full year of 2014, company still expect production to average between 6,400 and 6,600 Boe per day, LOE to average between $10.50 and $11 per Boe. For 2014 capital budget is $34 million.

LRR Energy, L.P., Q1 2014 Earnings Call, May 02, 2014

LRR Energy, L.P., Q1 2014 Earnings Call, May 02, 2014

LRR Energy, L.P. Declares Increased Cash Distribution for the First Quarter of 2014, Payable on May 15, 2014

LRR Energy, L.P. announced that the Board of Directors of its general partner declared an increased cash distribution for the first quarter of 2014 of $0.4925 per outstanding unit, or $1.97 on an annualized basis. The distribution will be paid on May 15, 2014, to all unitholders of record as of the close of business on April 30, 2014. The declaration represents the seventh consecutive increase to LRR Energy's quarterly distribution.

 

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