"While quarter-over-quarter WTI prices stayed relatively flat, our company-wide oil differential improved by approximately $9.00 per barrel during the second quarter as both the Permian and the Rockies regions improved to levels inside of their historical norms and above our expectations. We expect these differentials to be at or around normal levels for the remainder of 2013, with company-wide oil differentials of $5.25-$6.25 per barrel. Natural gas realizations during the first half of the year were negatively impacted by infrastructure issues and declining NGL prices. We currently expect second-half 2013 positive natural gas differentials of $0.90-$1.00 per Mcf."On the development front, we continue to be pleased with our program that is focused on oil-weighted projects in the Permian Basin. Our results from our operated Wolfberry drilling program remain solid, and we continue to participate in several attractive non-operated drilling projects, including a horizontal Bone Spring well in which we own a 50% working interest. We are excited about the second half of 2013, as our development pace will accelerate to include the drilling of two operated horizontal Bone Spring wells along with our drilling in the Wolfberry.
Legacy Reserves LP Announces Second Quarter 2013 Results
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