New Source Energy Partners L.P. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Production Results for the Second Quarter Ended June 30, 2014
For the six months, the company's total revenues were $54,245,000 compared to $20,009,000 a year ago. Operating income was $4,261,000 compared to operating loss of $3,662,000 a year ago. Income before income taxes was $54,000 compared to loss before income taxes of $5,372,000 a year ago. Net income was $54,000 compared to $6,754,000 a year ago. Net income attributable to the company was $54,000 compared to $6,754,000 a year ago. Net income per common unit was $0.01 compared to $0.22 a year ago. Adjusted EBITDA was $23,530,000 compared to $11,054,000 a year ago. Estimated maintenance capital expenditures was $7,648,000 compared to $3,097,000 a year ago. Distributable cash flow was $14,023,000 compared to $6,937,000 a year ago.
The company announced production results for the second quarter ended June 30, 2014. For the quarter, the company's oil production volumes (Bbls) was 43,625 compared to 18,059 a year ago. Natural gas production volumes (Mcf) was 927,828 compared to 658,792 a year ago. NGLs production volumes (Bbls) was 241,695 compared to 192,740 a year ago. Total production volumes production volumes (Boe) was 439,958 compared to 320,598 a year ago. Average daily volumes (Boe) was 4,835 compared to 3,523 a year ago.