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April 17, 2013
07:14 EDTNSLPNew Source Energy reports FY12 average daily net production 3,147 Boe/d
Average daily oil production was 167 Bbl/d during the year ended December 31, 2012, an increase of 25% from the year ended December 31, 2011. Estimated proved reserves were approximately 14.2 MMBoe as of December 31, 2012, an increase of 3% from the year ended December 31, 2011. Reports adjusted EBITDA for the year ended December 31, 2012 of $29.8M, net income $3.1M. Crude oil production was 61,010 Bbls per day during the year ended December 31, 2012, an increase of 25% from the year ended December 31, 2011. Natural gas production amounted to 2.3 Bcf during the year ended December 31, 2012, a decrease of 4% from the year ended December 31, 2011. Natural gas liquids production was 711,195 Bbls for the year ended December 31, 2012, a decrease of 1% from the year ended December 31, 2011.
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July 29, 2015
12:21 EDTNSLPNew Source Energy downgraded to Neutral from Buy at Janney Capital
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10:21 EDTNSLPNew Source Energy suspends quarterly cash distribution
New Source Energy Partners announced earlier that the board of its General Partner has decided to suspend the cash distribution on common units. Kristian Kos, Chairman and CEO said: "The continued low commodity price environment coupled with current market conditions have led the Board of Directors to suspend the cash distribution on our common units. Preservation of this capital allows the Partnership to focus on executing our plan to restructure the business and position the Partnership for growth. We will continue to analyze accretive acquisitions to grow the E&P business while we explore the best opportunity to execute our restructuring plan to deliver value to our unitholders via a potential monetization or spin-out of our OFS business." New Source shares are down more than 32% to $1.75 in early trading.

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