Last $2.66 USD
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As of 11:56 AM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

eagle rock energy partners (EROC) Key Developments

Eagle Rock Energy Partners, L.P. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014; Provides Earnings and Production Guidance for the First Quarter and Full Year of 2015

Eagle Rock Energy Partners, L.P. reported unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $137.733 million compared to $47.755 million a year ago. Operating loss was $286.044 million compared to $154.457 million a year ago. Loss from continuing operations before income taxes was $347.01 million compared to $159.371 million a year ago. Loss from continuing operations was $344.243 million compared to $158.036 million a year ago. Net loss was $344.591 million compared to $168.932 million a year ago. Adjusted EBITDA was $34.506 million compared to $29.92 million a year ago. Distributable cash flow was $17.916 million compared to $8.868 million a year ago. For the full year, the company reported total revenues of $298.204 million compared to $197.372 million a year ago. Operating loss was $287.055 million compared to $213.843 million a year ago. Loss from continuing operations before income taxes was $357.77 million compared to $233.766 million a year ago. Loss from continuing operations was $352.367 million compared to $228.171 million a year ago. Net loss was $139.907 million compared to $277.979 million a year ago. Adjusted EBITDA was $120.89 million compared to $119.772 million a year ago. Distributable cash flow was $42.416 million compared to $47.796 million a year ago. During the first quarter of 2015, the Partnership plans to spend approximately $27 million on capital expenditures and expects $14 million to be categorized as maintenance capital expenditures and $13 million to be categorized as growth capital expenditures. Subject to results from the Partnership's drilling program, the Partnership expects to average between 73 and 75 MMcfe/d during first quarter 2015. For full year 2015, the Partnership plans to spend approximately $72 million on capital expenditures, and expects $54 million to be categorized as maintenance capital expenditures and $18 million to be categorized as growth capital expenditures. This is a reduction of 46% as compared to 2014 total capital expenditures of $134 million. Subject to results from the Partnership's drilling program, the Partnership expects to average between 74 and 76 MMcfe/d for full year 2015.  The Partnership currently expects its quarterly General & Administrative expenses, excluding amortization of expenses related to its Long Term Incentive Plan, to average a run rate between $7.3 and $7.7 million per quarter during 2015. For the quarter, the company reported impairment of $378.587 million against $151.058 million a year ago. For the quarter, the company reported total production of 6,935,552 Mcfe against 6,943,016 Mcfe a year ago. For the year, the company reported total production of 26,820,920 Mcfe against 27,071,929 Mcfe a year ago.

Eagle Rock Mulls Acquisitions

Eagle Rock Energy Partners, L.P. (NasdaqGS:EROC) intends to pursue acquisitions. "Our strong hedge portfolio, coupled with our ample liquidity and low leverage ratio, positions the Partnership in 2015 to make accretive acquisitions, reduce the overall production decline rate and grow distributable cash flow," Joseph A. Mills, Chairman and Chief Executive Officer, said.

Eagle Rock Energy Partners, L.P Declares Fourth Quarter Cash Distribution Payable on February 13, 2015

Eagle Rock Energy Partners, L.P said it will pay a fourth quarter cash distribution of $0.07 per common unit on February 13, 2015 to unit-holders of record on February 6, 2015. The company has maintained its distribution rate from the previous quarter.

Eagle Rock Energy Partners, L.P. to Report Q4, 2014 Results on Feb 25, 2015

Eagle Rock Energy Partners, L.P. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 25, 2015

Eagle Rock Energy Partners, L.P., Q4 2014 Earnings Call, Feb 26, 2015

Eagle Rock Energy Partners, L.P., Q4 2014 Earnings Call, Feb 26, 2015

 

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