Exploration & Production | Quarterly / Earnings Reports
Legacy's Q1 Production Hits Record 19,711 BOE/d
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Legacy Reserves LP reported first quarter results for 2013.
Q1 2013 highlights include: Our production increased 25% to a record 19,711 Boe/d primarily due to a full quarter of production from our $502.6 million Permian Basin acquisition from Concho Resources Inc. that closed on December 20, 2012. This increased production was partially offset by lower than expected natural gas and NGL production due to continuing third-party gathering system and processing plant issues that impacted our Permian Basin and Texas Panhandle production. We generated $108.9 million of revenue and a record $64.4 million of EBITDA, representing 20% and 25% respective increases over results in the prior quarter. After deducting $17.0 million of maintenance capital expenditures, we generated $34.9 million of…- ✓ Full news archive — U.S., Canada & international coverage
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