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Memorial Production Partners LP (MEMP.OQ)

MEMP.OQ on NASDAQ Stock Exchange Global Select Market

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29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Memorial Production Partners LP commences court-supervised financial restructuring process
Monday, 16 Jan 2017 11:00pm EST 

Memorial Production Partners LP : Memorial Production Partners LP commences court-supervised financial restructuring process . Operations to continue as normal across asset base . Restructuring expected to strengthen financial position and eliminate more than $1.3 billion of debt . Memorial production partners-to implement financial restructuring contemplated under plan support agreements with certain of noteholders and lenders . Partnership is not seeking debtor-in-possession (DIP) financing at this time . Says MEMP has voluntarily filed for reorganization under Chapter 11 of United States Bankruptcy Code .Memorial Production Partners - MEMP expects to have sufficient liquidity to continue its operations and meet its obligations in ordinary course.  Full Article

Memorial Production Partners announces plan support agreement
Friday, 23 Dec 2016 06:00am EST 

Memorial Production Partners LP : Memorial Production Partners - Entered into plan support deal with holders of 50.2% of partnership's 7.625% senior notes due 2021 . Entered into a plan support agreement with holders of 50.2% of partnership's 6.875% senior notes due 2022 . Memorial Production Partners - Expects to voluntarily file for reorganization under chapter 11 of united states bankruptcy code in coming weeks . Memorial Production Partners-Reached agreement-in-principle with agent under its revolving credit facility on terms of a financial restructuring plan . Financial restructuring will cancel more than $1.1 billion of principal in outstanding notes . Memorial Production Partners-Reached agreement-in-principle on terms financial restructuring plan to eliminate more $1.3 billion of debt from balance sheet . Memorial Production Partners - Operations and production expected to continue as normal throughout court-supervised financial restructuring process . Memorial Production Partners-Monetized certain hedge positions, used proceeds to repay outstanding borrowings under revolving credit facility by about $190 million .Memorial Production Partners LP announces plan support agreement and agreement-in-principle on comprehensive financial restructuring to deleverage balance sheet.  Full Article

Memorial Production Partners LP extends forbearance agreements with noteholders
Thursday, 8 Dec 2016 06:00am EST 

Memorial Production Partners LP : Memorial Production Partners LP extends forbearance agreements with noteholders . Memorial Production Partners LP says MEMP is continuing to engage in discussions with its lenders . Memorial Production Partners LP says forbearance agreements now extend through December 16, 2016 . Memorial Production Partners LP says noteholders have agreed to forbear from exercising any and all remedies available to them .Memorial Production Partners LP says extension of forbearance agreements will allow parties to continue this dialogue and work towards comprehensive solution.  Full Article

Memorial Production Partners receives extension of waiver under credit facility
Thursday, 1 Dec 2016 06:00am EST 

Memorial Production Partners LP - : Memorial Production Partners LP enters into forbearance agreement with noteholders and receives extension of waiver under credit facility . Agreement with certain shareholders who hold 51.7% of partnership's 7.625% senior notes due 2021 . Agreement with certain shareholders who hold 69% of partnership's 6.875% senior notes due 2022 . Forbearance agreement extends through December 7, 2016 . Operations are continuing as normal across memp's asset base .Reached agreement with lenders under its revolving credit facility to extend through Dec 16 previously granted waiver.  Full Article

Memorial Production Partners- changes in leadership roles
Friday, 2 Sep 2016 04:05pm EDT 

Memorial Production Partners Lp : Memorial production partners lp announces changes in leadership roles . John A. Weinzierl has submitted his resignation as chief executive officer of memp gp effective immediately. . Weinzierl will remain actively involved with memp by continuing to serve as a director on board .Board has elected William J. Scarff, current president of Memp Gp, to additional role of chief executive officer.  Full Article

Memorial Production announces Q2 results, updates 2016 guidance
Wednesday, 3 Aug 2016 06:00am EDT 

Memorial Production Partners Lp : Company announces second quarter 2016 results, updated hedges and updated 2016 guidance . Average daily production decreased 5 percent to 231.5 MMCFE for Q2 2016, compared to 243.3 MMCFE for Q1 2016 . Sees 2016 Net Average Daily Production 215-230 MMCFE/D . Sees 2016 capital expenditures $55 million to $65 million . Sees FY 2016 adjusted EBITDA of $305 million to $320 million . As of July 29, 2016, MEMP had total debt of $1.8 billion .During Q2, MEMP retired about $84.2 million in aggregate principal amount of senior notes for total consideration of $41.5 million.  Full Article

Memorial Production Partners sells certain assets in Colorado And Wyoming
Monday, 18 Jul 2016 05:20pm EDT 

Memorial Production Partners Lp : Sold certain assets located in Colorado and Wyoming to Urban Fund II, Lp and Urban Oil And Gas Partners B-1 Lp . Adjusted purchase price of approximately $18.1 million in cash . Disposition does not qualify as a discontinued operation - sec filing .On June 14 partnership sold certain assets located in permian basin to Boaz Energy II, Llc for about $37.4 million.  Full Article

Memorial Production Partners LP to acquire Memorial Production Partners GP LLC
Thursday, 28 Apr 2016 06:00am EDT 

Memorial Production Partners LP:Memorial Production Partners LP announces agreement to acquire GP interest and IDRS from Memorial Resource Development Corp.To acquire Memorial Production Partners GP LLC for $0.75 million in cash.MemP will also acquire other 50 pct of IDRS held by natural gas partners.  Full Article

Memorial Production Partners LP narrows FY 2015 production guidance
Wednesday, 4 Nov 2015 06:01am EST 

Memorial Production Partners LP:Sees FY 2015 total production of between 249 (MMcfe/d) - 257 (MMcfe/d).  Full Article

Memorial Production Partners LP announces acquisition of Oil and Gas Properties
Wednesday, 4 Nov 2015 06:00am EST 

Memorial Production Partners LP:Completed an acquisition of the remaining interests in its oil and gas properties offshore Southern California from a third party for approximately $101 million.Says acquired interests in the transaction announced today primarily consist of the 48.25% remaining working interests.  Full Article

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