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Last $16.88 USD
Change Today -0.56 / -3.21%
Volume 421.9K
MEMP On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

memorial production partners (MEMP) Snapshot

Open
$17.40
Previous Close
$17.44
Day High
$17.63
Day Low
$16.67
52 Week High
06/26/14 - $24.75
52 Week Low
12/16/14 - $11.75
Market Cap
1.5B
Average Volume 10 Days
644.0K
EPS TTM
$0.74
Shares Outstanding
84.0M
EX-Date
02/3/15
P/E TM
22.8x
Dividend
$2.20
Dividend Yield
13.03%
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 Memorial Production ...
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 Presents at Barclays Select Series 2015: Master Limited Partnership Corporate Access Day, Mar-04-2015

Memorial Production Partners LP Presents at Barclays Select Series 2015: Master Limited Partnership Corporate Access Day, Mar-04-2015 . Venue: Crowne Plaza Times Square Manhattan, 1605 Broadway, New York, New York, United States. Speakers: Robert Lee Stillwell, Chief Financial Officer of Memorial Production Partners GP LLC and Vice President of Memorial Production Partners GP LLC, William J. Scarff, President of Memorial Production Partners GP LLC.

Memorial Production Partners LP Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings and Production Guidance for the Year 2015; Announces Impairment Charges

Memorial Production Partners LP announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income attributable to company of $163.3 million or $1.88 per basic and diluted limited partner unit on total revenue of $122.6 million compared to net income attributable to company of $103.1 million or $1.39 per basic and diluted limited partner unit on total revenue of $147.2 million reported in the third quarter of 2014. Operating income was $187.5 million against $129.7 million reported in the third quarter of 2014. Income before income taxes was $164.2 million against $103.2 million reported in the third quarter of 2014. Adjusted EBITDA was $91.1 million compared to $90.0 million for the third quarter of 2014. Net cash provided by operating activities was $41.1 million against $87.7 million reported in the third quarter of 2014. Total capital expenditures, excluding acquisitions, on proved oil and gas properties were $67.8 million, including maintenance capital expenditures of $25.7 million. For the year, the company reported net income attributable to company of $118.0 million or $1.66 per basic and diluted limited partner unit on total revenue of $494.1 million compared to net income attributable to company of $20.0 million or $0.19 per basic and diluted limited partner unit on total revenue of $343.6 million reported in the same period last year. Operating income was $203.1 million against $62.5 million reported last year. Income before income taxes was $119.2 million against $20.6 million reported last year. Adjusted EBITDA increased 40% to $309.9 million for the full year 2014, compared to $222.2 million in 2013. Net cash provided by operating activities was $224.9 million against $193.7 million reported last year. Total capital expenditures, excluding acquisitions, on proved oil and gas properties for the full year 2014 were $282.1 million. Total estimated maintenance capital expenditures for the full year were $89.6 million. Average daily production increased 9% to 227.8 MMcfe for the fourth quarter 2014, compared to 208.6 MMcfe for the third quarter 2014. In the quarter, oil production was 1,036 MBbls compared to 986 MBbls produced in the third quarter of 2014. NGLs production was 645 MBbls compared to 554 MBbls produced in the third quarter of 2014. Natural gas production was 10,869 MMcf compared to 9,948 MMcf produced in the third quarter of 2014. Average daily production increased 29% to 199.7 MMcfe/d for the full year 2014, compared to 154.3 MMcfe/d in 2013. In the year, oil production was 3,092 MBbls compared to 1,764 MBbls produced last year. NGLs production was 2,143 MBbls compared to 1,632 MBbls produced last year. Natural gas production was 41,494 MMcf compared to 35,924 MMcf produced last year. For the quarter, the company reported impairment of proved oil and natural gas properties of $340.4 million. For the year ending December 31, 2015, the company expects net income of $75 million, adjusted EBITDA of $399 million, net cash provided by operating activities of $291 million and distributable cash flow of $185 million. In 2015, excluding potential future acquisitions, MEMP's capital spending program is expected to be approximately $190 to $210 million. Interest expense is to be $108 million. Depletion, depreciation, and amortization is to be $216 million. For the year, the company expects daily oil production in the range of 10.3 to 11.0 MBbls/d, daily NGLs production in the range of 8.5 to 9.0 MBbls/d, daily natural gas production in the range of 136 to 145 MMcf/d and total net average daily production in the range of 249 to 265 MMcfe/d.

MEMP Eyes Acquisitions

Memorial Production Partners LP (NasdaqGS:MEMP) is seeking acquisitions. John Weinzierl, Chairman and Chief Executive Officer of MEMP said, “With significant liquidity on our revolving credit facility of $855 million as of February 23, we are well positioned to take full advantage of future acquisition opportunities as they become available.”

 

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Industry Analysis

MEMP

Industry Average

Valuation MEMP Industry Range
Price/Earnings 10.2x
Price/Sales 3.0x
Price/Book 1.4x
Price/Cash Flow 2.1x
TEV/Sales NM Not Meaningful
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