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Memorial Ups Production; Talks Acquisition Strategy

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Memorial Ups Production; Talks Acquisition Strategy

Memorial Production Partners LP has reported its operating and financial results for the three and six months ended June 30, 2013.

In addition, MEMP provided an update of its commodity hedge positions presented in the Hedge Summary Table below along with previously announced full-year 2013 guidance.

Key Second Quarter 2013 Highlights: Average daily production increased 32% to 115.1 MMcfe for the second quarter 2013, compared to 87.4 MMcfe for the second quarter 2012. Adjusted EBITDA increased 18% to $41.1 million for the second quarter 2013, compared to $34.8 million for the second quarter 2012. Second quarter cash distribution of $0.5125 per unit, or $2.05 per unit on an annualized basis, representing a 7.9% increase over the annualized minimum quarterly distribution of $1.90 per unit…
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