Legacy Reserves LP announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2018. For the quarter, the company announced total revenues of $137,479,000 compared to $99,547,000 for the same period a year ago. Operating income was $41,944,000 compared to $2,285,000 for the same period a year ago. Incomes before income taxes were $64,869,000 compared to $16,793,000 for the same period a year ago. Net income attributable to unit holders was $59,632,000 compared to $11,622,000 for the same period a year ago. Income per unit, basic and diluted was $0.78 compared to $0.16 for the same period a year ago. Adjusted EBITDA was $70,698,000 compared to $40,190,000 for the same period a year ago. Total development capital expenditures increased to $59.7 million in 2018 from $23.7 million in 2017.

For the quarter, the company announced total production of 4,147 MBoe compared to 3,818 MBoe for the same period a year ago. Average daily production was 46,078 Boe/d compared to 42,422 Boe/d for the same period a year ago.

For the year 2018, the company expected oil in the range of 18,101 Bbls/d to 20,060 Bbls/d. Natural gas liquids is expected to be in the range of 2,053 bbls/s to 2,261 bbls/d. Natural gas is expected to be 158 MMcf/d to 168 MMcf/d. Total production is expected to be in the range of 46,487 Boe/d to 50,321 Boe/d.

For the second half of 2018, the company expected oil in the range of 18,400 MBbls to 21,000 MBbls. Natural gas liquids is expected to be in the range of 1,925 MGal to 2,200 MGal. Natural gas is expected to be 158 MMcf to 171 MMcf. Total production is expected to be in the range of 46,658 MBoe to 51,700 MBoe.

For the year 2018, the company expected adjusted EBITDA is expected to be in the range of $287,698,000 to $332,698,000.

For the second half of 2018, the company expected adjusted EBITDA is expected to be in the range of $217,000,000 to $262,000,000.