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LRR Sets 2015 Guidance; Tags 6,750 BOE/d in 1Q Production
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LRR Energy, L.P. reported its operating and financial results for the three months and year ended December 31, 2014.
Eric Mullins, Chairman and Co-Chief Executive Officer, commented, “Overall, we are pleased with our results for the fourth quarter of 2014. Our financial and operating results improved over the third quarter in part due to our Stroud acquisition that closed on October 1, 2014.”
Charlie Adcock, Co-Chief Executive Officer, reflected that, “Despite our strong quarter, we expect that 2015 will be challenging given the current outlook for commodity prices, which is reflected in our 2015 capital budget. Our Board of Directors approved a 2015 capital budget of $19 million, which is a 46% decrease from our 2014 capital budget of $35 million.”
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