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Last $7.37 USD
Change Today +0.16 / 2.22%
Volume 873.6K
MEMP On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 11:53 AM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

memorial production partners (MEMP) Snapshot

Open
$7.43
Previous Close
$7.21
Day High
$7.47
Day Low
$6.90
52 Week High
09/3/14 - $23.84
52 Week Low
08/24/15 - $5.00
Market Cap
611.3M
Average Volume 10 Days
1.6M
EPS TTM
$-0.81
Shares Outstanding
82.9M
EX-Date
08/3/15
P/E TM
--
Dividend
$2.20
Dividend Yield
29.85%
Current Stock Chart for MEMORIAL PRODUCTION PARTNERS (MEMP)

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memorial production partners (MEMP) Details

Memorial Production Partners LP, through its subsidiary, engages in the acquisition, development, exploitation, and production of oil and natural gas properties. Its properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, and working interests in identified producing wells located in Texas, Louisiana, Colorado, Wyoming, New Mexico, and offshore Southern California. As of December 31, 2014, its total estimated proved reserves were approximately 1,454 billion cubic feet of natural gas equivalent. Memorial Production Partners GP LLC serves as the general partner of Memorial Production Partners LP. The company was founded in 2011 and is headquartered in Houston, Texas.

Founded in 2011

memorial production partners (MEMP) Top Compensated Officers

Chairman of Memorial Production Partners GP L...
Total Annual Compensation: $165.0K
President of Memorial Production Partners GP ...
Total Annual Compensation: $330.0K
Chief Financial Officer of Memorial Productio...
Total Annual Compensation: $220.0K
Senior Vice President of Compliance & Adminis...
Total Annual Compensation: $308.0K
Senior Vice President of Corporate Developmen...
Total Annual Compensation: $308.0K
Compensation as of Fiscal Year 2014.

memorial production partners (MEMP) Key Developments

Memorial Production Partners LP Reports Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year Ending December 31, 2015

Memorial Production Partners LP reported unaudited earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $98,138,000 against $144,208,000 a year ago. Operating income was $85,197,000 against $93,293,000 a year ago. Loss before income taxes was $112,983,000 against $111,330,000 a year ago. Net loss attributable to the shareholders was $113,924,000 against $111,628,000 a year ago. Basic and diluted earnings per limited partner unit were $1.36 against $1.86 a year ago. Adjusted EBITDA was $82,875,000 against $84,475,000 a year ago. For the six months, the company reported total revenues of $190,956,000 against $261,093,000 a year ago. Operating income was $221,567,000 against $110,032,000 a year ago. Loss before income taxes was $278,011,000 against $144,147,000 a year ago. Net loss attributable to the shareholders was $274,473,000 against $148,306,000 a year ago. Basic and diluted earnings per limited partner unit were $3.26 against $2.42 a year ago. Adjusted EBITDA was $169,307,000 against $146,521,000 a year ago. For the quarter, the company reported total production volumes of 22,548 (MMcfe) against 20,457 (MMcfe) a year ago. Average net production was 247.8 (MMcfe/d) against 224.8 (MMcfe/d) a year ago. For the six months, the company reported total production volumes of 45,246 (MMcfe) against 37,272 (MMcfe) a year ago. Average net production was 250.0 (MMcfe/d) against 205.9 (MMcfe/d) a year ago. For the year ending December 31, 2015, the company expects net income of $33 million, adjusted EBITDA is expected to be $344 million, net cash provided by operating activities is expected to be $236 million, and estimated maintenance capital expenditures is expected to be $106 million.

Memorial Production Partners to Recommend Cash Distribution for the Third Quarter of 2015

Memorial Production Partners LP announced that it will recommend to the board of directors of the company's general partner a cash distribution of $0.30 per unit, or $1.20 per unit on an annualized basis, for the third quarter of 2015, which would be paid in November 2015. This distribution represents a $0.25 per unit, or 45%, reduction from MEMP's second quarter distribution. The recommended distribution rate is based on current commodity and financial market conditions and is part of MEMP's overall plan to increase its strategic flexibility, manage leverage and preserve cash flow.

Memorial Production Partners Seeks Acquisitions

Memorial Production Partners LP (NasdaqGS:MEMP) is seeking acquisitions. John Weinzierl, Chairman and Chief Executive Officer, said, "We believe that these strengths enhance our ability to be competitive, and we are well positioned to take advantage of any acquisition opportunities that may present themselves."

 

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Industry Analysis

MEMP

Industry Average

Valuation MEMP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.4x
Price/Book 0.7x
Price/Cash Flow 0.7x
TEV/Sales NM Not Meaningful
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