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
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