New Source Energy Partners L.P. Declares Fourth Quarter 2014 Cash Distribution, Payable on February 13, 2015; Provides Earnings Guidance for the Year 2015
The company provided earnings guidance for the year 2015. For the year, the company revising its 2015 guidance in response to the lower commodity prices and the anticipated impact on drilling plans for oil and gas properties as well as customers drilling plans in the oilfield services business. The Oilfield Services Divisions guidance reflects a decrease in revenue based on expected decreases in oil and natural gas producers drilling activity. The Exploration and Production Divisions guidance reflects lower average daily production based on drilling plans being curtailed due to the low commodity price environment. Revenues expects to be in the range of $120 million to $140 million. EBITDA Margin to be 21% to 25%.