Legacy Reserves LP Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2017; Announces Impairment of Long-Lived Assets for the First Quarter Ended March 31, 2017
Legacy Reserves LP announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2017. For the quarter, the company announced total revenues of $99,547,000 compared to $65,859,000 for the same period a year ago. Operating income was $2,285,000 compared to operating loss of $16,876,000 for the same period a year ago. Incomes before income taxes were $16,793,000 compared to $105,729,000 for the same period a year ago. Net income attributable to unit holders was $11,622,000 compared to $101,371,000 for the same period a year ago. Income per unit, basic and diluted was $0.16 compared to $1.47 for the same period a year ago. Adjusted EBITDA was $40,190,000 compared to $29,094,000 for the same period a year ago.
For the quarter, the company announced total production of 3,818 MBoe compared to 4,143 MBoe for the same period a year ago. Average daily production was 42,422 Boe/d compared to 45,527 Boe/d for the same period a year ago.
For the first quarter ended March 31, 2017, the company announced impairment of long-lived assets was $8,062,000 compared to $15,447,000 for the same period a year ago.