FONT-SIZE Plus   Neg

LRR Energy L.P. Posts Q1 Profit Of $3.8 Mln - Quick Facts

LRR Energy L.P. (LRE) reported that net income for the first-quarter 2012 was $3.8 million, or $0.17 per limited partner unit. Total revenues for the latest-quarter were $24.0 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share on revenues of $24.75 million for the quarter. Analysts' estimates typically exclude special items.

LRR Energy continues to expect its 2012 capital expenditures to total approximately $21.2 million, of which approximately $18.0 million is maintenance capital.

Notwithstanding the Red Lake field shut-in and the Pecos Slope field curtailment, LRR Energy said it is still comfortable with its 2012 production guidance range of 5,700 - 6,100 Boe/d. The company said its production rate for April 2012 was approximately 5,875 Boe/d.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Follow RTT