New Source Energy Partners L.P. Provides Production Guidance for the Remainder of 2013; Increases Capex Guidance for the Second Quarter of 2013
April 01, 2013 at 10:31 pm EDT
New Source Energy Partners L.P. provided production guidance for the remainder of 2013. For the period, the company expects assets to increase average production by in excess of 600 Boe/d; approximately 10% oil and 54% NGLs; following acquisition, the Partnership is increasing second quarter 2013 production guidance to a range of 3,900 Boe/d to 4,100 Boe/d, from its IPO prospectus forecast of 3,316 Boe/d.
For the second quarter of 2013, the company is increasing guidance for maintenance capital expenditures to $2.6 million.