FBR Capital Downgrades Memorial Production Partners (MEMP) to Market Perform

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Go back to FBR Capital Downgrades Memorial Production Partners (MEMP) to Market Perform

Memorial Production Partners (MEMP) to Suspend Quarterly Cash Distributions; Will Explore Strategic Alternatives

October 31, 2016 7:15 AM EDT

Memorial Production Partners LP (Nasdaq: MEMP) announced that the board of directors of its general partner has elected to suspend MEMPs quarterly cash distributions to unitholders, effective immediately. The board believes the suspension is in the best interest of the Partnership. The Partnership also announced a reduction of its borrowing base under MEMPs credit facility from $925 million to $740 million, effective October 28, 2016, which will be further reduced to $720 million, effective December 1, 2016. These reductions are part of the Partnerships semi-annual borrowing base redetermination process. As of October 28, 2016, MEMP had approximately $714 million... More

UPDATE: Memorial Production Partners (MEMP) Said to Weigh Options, Including Bankruptcy

October 28, 2016 3:48 PM EDT

(Updated - October 28, 2016 3:55 PM EDT)

Memorial Production Partners (Nasdaq: MEMP) said to weigh options, including bankruptcy, according to Bloomberg.

UPDATE - News comes as the company make look to restructure its current debt situations

MEMP may... More