Legacy Reserves LP Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2016; Announces Impairment of Long-Lived Assets for the First Quarter of 2016
May 05, 2016 at 01:36 am IST
Legacy Reserves LP reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenue of $65.859 million compared to $81.539 million a year ago. Adjusted EBITDA was $29.094 million compared to $61.979 million a year ago. Operating loss was $16.876 million compared to $233.179 million a year ago. Income before income taxes was $105.729 million compared to loss of $229.601 million a year ago. Net income attributable to unit holders was $101.371 million or $1.47 per basic and diluted share compared to loss of $233.604 million or $3.39 per basic and diluted share a year ago. Development capital expenditures were $4.801 million compared to $13.366 million a year ago.
For the quarter, the company reported total production of 4,143 MBoe compared to 3,040 MBoe a year ago.
For the quarter, the company reported impairment of long-lived assets of $15.447 million compared to $209.402 million a year ago.