Revenue Update on Memorial Production Partners LP(NASDAQ:MEMP)

Memorial Production Partners LP(NASDAQ:MEMP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $68.07M. Analysts estimated a revenue of $121.95M. Earnings per share were $-2.28. Analysts had estimated an EPS of $-0.01.

Memorial Production Partners LP (MEMP) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -1.04% at a volume of 2,50,384. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.949. The peak price level was also seen at $1.949 while the days lowest was $1.87. Finally the shares closed at $1.9. The 52-week high of the shares is $7.69 while the 52-week low is $1.34. According to the latest information available, the market cap of the company is $159 M.

Several Insider Transactions has been reported to the SEC. On Mar 11, 2015, Gregory M Robbins (SVP, Corporate Development) sold 16,000 shares at $18.00 per share price.

Memorial Production Partners LP (the Partnership) focuses on owning acquiring and exploiting oil and natural gas properties in North America. The Partnership is owned 99.9% by its limited partners and 0.1% by its general partner which is a wholly owned subsidiary of Memorial Resource. Its general partner is responsible for managing all of the Partnership’s operations and activities. The Partnership operates in one reportable segment whose business activities are conducted through OLLC its wholly owned subsidiary and its wholly owned subsidiaries. Its assets consist primarily of producing oil and natural gas properties and are located in Texas Louisiana Colorado Wyoming New Mexico and offshore Southern California. Most of its oil and natural gas properties are located in oil and natural gas reservoirs with geologic characteristics and production profiles and capital requirements.

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