Last $21.24 USD
Change Today +0.19 / 0.90%
Volume 414.4K
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As of 6:40 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

qr energy lp (QRE) Key Developments

QR Energy, LP Announces Monthly Cash Distribution, Payable on August 14, 2014

QR Energy, LP announced that the board of directors has approved a cash distribution of $0.1625 per unit for all outstanding units. The distribution will be payable on August 14, 2014 to unitholders of record at the close of business on August 7, 2014.

QR Energy, LP Reports Preliminary Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production and Financial Guidance for Third Quarter and Full Year of Fiscal 2014

QR Energy, LP reported preliminary consolidated earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $133,306,000, operating income of $36,154,000, loss before income taxes of $50,643,000, net loss of $50,900,000, net loss attributable to the company of $51,354,000 or $1.05 per unit against total revenue of $122,623,000, operating income of $26,224,000, loss before income taxes of $14,301,000, net loss of $14,396,000, net loss attributable to the company of $14,610,000 or $2.86 per unit a year ago. Adjusted EBITDA was $69,567,000 against $64,801,000 a year ago. Total capital expenditures were $39.6 million; maintenance capital remained unchanged at $18 million. Increase in total revenue of 9% largely flowed to the bottom-line with adjusted EBITDA increasing 7% over the first quarter to $69.6 million and distributable cash flow up 13% to $34.9 million. For the six months, the company reported total revenue of $255,929,000, operating income of $62,378,000, loss before income taxes of $64,944,000, net loss of $65,296,000, net loss attributable to the company of $65,964,000 or $3.91 per unit against total revenue of $210,316,000, operating income of $43,297,000, profit before income taxes of $55,491,000, net income of $55,440,000, net income attributable to the company of $55,440,000 or $0.58 per unit a year ago. Adjusted EBITDA was $134,368,000 against $124,377,000 a year ago. For the quarter, the company reported total production of 1,844 MBoe against 1,701 MBoe a year ago. Average daily production was 20,264 Boe per day against 18,900 Boe per day a year ago. Oil production was 1,072 MBbls against 1,008 MBbls a year ago. Natural gas production was 3,259 MMcf against 2,844 MMcfa year ago. For the six months, the company reported total production of 3,545MBoe against 3,172 MBoe a year ago. Average daily production was 19,586 Boe per day against 17,525 Boe per day a year ago. Oil production was 2,080 MBbls against 1,785 MBbls a year ago. Natural gas production was 6,103 MMcf against 5,799 MMcfa year ago. For the third quarter of 2014, the company expects average net daily production of 20,500 to 21,000 BOEs per day. For the fiscal 2014, the company expects average net daily production of 19,900 to 20,500 BOEs per day. LOE is anticipated to remain in the $21 to $23 per BOE range for both the third quarter and the full year. For the third quarter of 2014, the company expects estimated total capital expenditures of $55 million to $60 million and estimated maintenance capital expenditures of $18 million. For the fiscal 2014, the company expects estimated total capital expenditures of $182 million and estimated maintenance capital expenditures of $72 million.

QR Energy, LP, Q2 2014 Earnings Call, Jul 24, 2014

QR Energy, LP, Q2 2014 Earnings Call, Jul 24, 2014

QR Energy, LP Announces Monthly Cash Distribution, Payable on July 15, 2014

QR Energy, LP announced that the board of directors has approved a cash distribution of $0.1625 per unit for all outstanding units. The distribution will be payable on July 15, 2014 to unitholders of record at the close of business on July 9, 2014.

QR Energy Announces Monthly Cash Distribution Payable on June 13, 2014

QR Energy, LP announced that the Board of Directors has approved a cash distribution of $0.1625 per unit for all outstanding units. This payment is the third monthly installment attributable to the first quarter of 2014 and represents an annualized distribution of $1.95 per unit. The distribution will be payable on June 13, 2014 to unit holders of record at the close of business on June 9, 2014.

 

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