Legacy Reserves LP Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2018; Reports Impairment of Long-Lived Assets for the Second Quarter Ended June 30, 2018
For the six months, the company reported total revenues of $276,760,000 against $192,394,000 for the same period a year ago. Operating income was $29,265,000 against operating loss of $2,955,000 for the same period a year ago. Income before income taxes was $14,290,000 against $5,866,000 for the same period a year ago. Net income was $13,673,000 against $5,295,000 for the same period a year ago. Net income attributable to unitholders was $4,173,000 against net loss attributable to unitholders of $4,205,000 for the same period a year ago. Income per unit - basic and diluted was $0.05 against loss per unit - basic and diluted of $0.06 for the same period a year ago. Adjusted EBITDA was $142,808,000 against $84,495,000 for the same period a year ago.
For the quarter, the company reported total production of 4,325 MBoe against 3,847 MBoe for the same period a year ago. Average daily production was 47,527 Boe/d against 42,275 Boe/d for the same period a year ago.
For the six months, the company reported total production of 8,472 MBoe against 7,665 MBoe for the same period a year ago. Average daily production was 46,807 Boe/d against 42,348 Boe/d for the same period a year ago.
The company reported impairment of long-lived assets of $35,381,000 for the second quarter of 2018 against $1,821,000 for the same period a year ago.