Memorial Production Partners LP has closed its previously announced acquisition of certain oil and natural gas producing properties in East Texas from its sponsor, Memorial Resource Development LLC, for approximately $34 million, subject to customary post-closing adjustments.

The acquisition was funded with borrowings under MEMP's revolving credit facility. The effective date of this transaction is February 1, 2014.

Transaction Highlights

◾ Expected to be immediately accretive to distributable cash flow ◾ Estimated net proved reserves of 15.4 Bcfe (100% proved developed producing and 54% gas / 46% liquids) ◾ November net production of approximately 4.3 MMcfe/d (54% natural gas and 46% liquids) ◾ Proved reserve to production ratio of 9.8 years

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