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Memorial Marks $1.1B in Acquisitions in 2Q Report
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Memorial Production Partners LP reported its operating and financial results for the three and six months ended June 30, 2014.
Highlights: Average daily production increased 23% to 195.7 MMcfe for the second quarter 2014, compared to 158.9 MMcfe for the second quarter 2013. Adjusted EBITDA increased 32% to $73.8 million for the second quarter 2014, compared to $55.7 million for the second quarter 2013. Second quarter cash distribution of $0.55 per unit, or $2.20 per unit on an annualized basis, represents a 16% increase over the annualized minimum quarterly distribution of $1.90 per unit. Completed the acquisition of oil and gas producing properties in East Texas for approximately $33 million. Announced the largest acquisition since IPO of oil producing properties in Wyoming; this…- ✓ Full news archive — U.S., Canada & international coverage
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