Legacy Reserves LP Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2018; Provides Production and Earnings Guidance for Second Half and Full Year of 2018
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.