Exhibit 99.1

		News For Immediate Release

Memorial Production Partners LP Announces Second Quarter 2016 Results,

Updated Hedges and Updated 2016 Guidance

HOUSTON, TEXAS, August 3, 2016—Memorial Production Partners LP (NASDAQ: MEMP) announced today its operating and financial results for the three months ended June 30, 2016. In addition, MEMP provided an update of its commodity hedge positions along with updated 2016 guidance.

Key Highlights

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“We are pleased to have delivered a strong operational quarter while also making material progress in meeting our goals of reducing MEMP’s outstanding debt and generating free cash,” said John Weinzierl, Chairman and Chief Executive Officer of MEMP GP. “Our focus on operational efficiencies was reflected in a 30% year-over-year reduction in operating costs as measured by LOE/Mcfe, which is also reflected in MEMP’s updated guidance for full year 2016. Further, MEMP used free cash generated from operations and proceeds from its recently completed Permian and non-core Rockies divestitures to repurchase $84 million of its senior notes and to reduce its revolver balance by $113 million from year-end.”

Review of Second Quarter 2016

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Divestitures Update

MEMP recently closed non-core divestitures in the Permian and Rockies for aggregate proceeds of approximately $55.3 million, subject to customary post-closing adjustments. Total proved reserves as of December 31, 2015 associated with these divestitures was 44.1 Bcfe (47% oil, 48% natural gas and 5% NGLs) and average net daily production was 17.9 MMcfe/d for the first three months of 2016. Proceeds from these transactions were used to pay down a portion of the amount outstanding under MEMP’s revolving credit facility.

The Permian divestiture, which represented a complete exit of the basin for MEMP, closed on June 14, 2016 for approximately $37.2 million, subject to customary post-closing adjustments, and included assets with total proved reserves of 18.6 Bcfe (99% oil, 1% gas) and average net daily production of 7.3 MMcfe/d. The Rockies divestitures closed in July 2016 for approximately $18.1 million, subject to customary post-closing adjustments, and included assets in Wyoming and Colorado with total proved reserves of 25.5 Bcfe (9% oil, 82% natural gas and 9% NGLs) and average net daily production of 10.6 MMcfe/d.

Hedging Update

Consistent with its hedging policy, MEMP has entered into natural gas, crude oil and NGL derivatives contracts covering the period from 2016 through December 2019. MEMP’s hedging policy is designed to reduce the impact to cash flows from commodity price and interest rate volatility.

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The following table reflects the volumes of MEMP’s expected production covered by commodity derivative contracts and the average fixed or floor prices at which that production is hedged. Targeted average net production estimate represents the mid-point of the annual production range in MEMP’s updated 2016 full year guidance.

Since the last hedging update on May 5, 2016, MEMP has liquidated certain crude oil and NGL hedges for the period July 2016 – December 2016 and utilized the proceeds to buy back senior notes. Subsequent to these transactions, MEMP partially re-hedged the oil volumes with swaps and puts for the period July 2016 – December 2016. The swap contracts were executed at strip pricing and cover approximately 2,000 Bbls/d. The put contracts are at a floor price of $40.00 and also cover approximately 2,000 Bbls/d. In addition, basis hedges related to the divested properties in 2016 and 2017 have been terminated and settled.

Financial Update

As of July 29, 2016, MEMP had total debt of $1.8 billion, which included $1.1 billion of senior notes and $723 million under its revolving credit facility. The borrowing base on the revolving credit facility is $925 million with available borrowing capacity of $200 million (including $2.1 million in letters of credit).

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During the second quarter, MEMP retired approximately $84.2 million in aggregate principal amount of senior notes for total consideration of $41.5 million, which included $1.0 million of accrued interest, at a repurchase price of approximately 48% of par value. This was partially funded by $1.6 million from sales of common units under MEMP’s at-the-market program. The balance of $39.8 million in senior notes repurchases was funded through the monetization of 2016 oil and NGL hedges.

MEMP’s total debt outstanding as of each of the respective dates are as follows:

As of June 30, 2016, MEMP was in compliance with the financial covenants under its revolving credit facility. These covenants include a first lien coverage test of 3.25x, an interest coverage ratio of 2.5x and a current ratio of 1.0x.

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Updated 2016 Guidance ⁽¹⁾

The updated 2016 guidance included in this press release is subject to the cautionary statements and limitations described under the “Forward-Looking Statements” caption at the end of this press release. MEMP’s updated 2016 guidance is based on its current expectations regarding capital expenditure levels and on the assumption that market demand and prices for oil and natural gas will continue at levels that allow for economic production of these products. It reflects the impact of forecasted capital spending as well as the impact of the oil and natural gas producing properties divested through today. A summary of the guidance, assuming no additional divestitures or acquisitions, is presented below:

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These estimates reflect management’s best judgment based on current expectations about the future and anticipated market conditions based upon both stated and unstated assumptions and other factors. Although management believes such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks that are beyond MEMP’s control. Actual conditions and assumptions may change over the course of the year.

Second Quarter 2016 Cash Distribution

As announced on July 27, 2016, the board of directors of MEMP’s general partner approved and declared a cash distribution of $0.03 per unit for the second quarter of 2016. This distribution represents an annualized amount of $0.12 per unit and will be paid on August 12, 2016 to unitholders of record as of the close of business on August 5, 2016.

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Quarterly Report on Form 10-Q

MEMP’s financial statements and related footnotes will be available in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, which MEMP expects to file with the SEC on or before August 9, 2016.

Conference Call

MEMP will host an investor conference call today at 10:00 a.m. Central Time to discuss these operating and financial results. Interested parties may join the webcast by visiting MEMP’s website www.memorialpp.com and clicking on the webcast link or by dialing (844) 735-9435 at least 15 minutes before the call begins and providing the Conference ID: 52712193. The webcast and a telephonic replay will be available for seven days following the call and may be accessed by visiting MEMP’s website www.memorialpp.com or by dialing (855) 859-2056 and providing the Conference ID: 52712193.

A presentation containing supplemental information regarding full year 2016 guidance and current developments has been posted to MEMP’s website www.memorialpp.com.

About Memorial Production Partners LP

Memorial Production Partners LP is a publicly traded partnership engaged in the acquisition, production and development of oil and natural gas properties in the United States. MEMP’s properties consist of mature, legacy oil and natural gas fields. MEMP is headquartered in Houston, Texas. For more information, visit www.memorialpp.com.

Forward-Looking Statements

This press release includes “forward-looking statements.” All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MEMP expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “will,” “would,” “should,” “could,” “expect,” “anticipate,” “plan,” “project,” “intend,” “estimate,” “believe,” “target,” “continue,” “potential,” the negative of such

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terms or other comparable terminology are intended to identify forward-looking statements. These statements include, but are not limited to, statements about MEMP’s future capital expenditures (including the amount and nature thereof), expectations regarding cash flows, distributions and distribution rates, and expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated financial and operating results of MEMP, including as to production, lease operating expenses, hedging activities, commodity price realizations, capital expenditure levels and other guidance. These statements are based on certain assumptions made by MEMP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, many of which are beyond the control of MEMP, which may cause MEMP’s actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks and uncertainties relating to, among other things, the uncertainty inherent in the development and production of oil, natural gas and natural gas liquids and in estimating reserves; drilling activities; volatility in the prices for, oil, natural gas and natural gas liquids, including a further or extended decline in commodity prices; potential difficulties in the marketing of oil, natural gas and natural gas liquids; competition in the oil and natural gas industry; potential failure or shortages of, or increased costs for, drilling and production equipment and supply materials for production; risks related to acquisitions, including MEMP’s ability to integrate acquired properties; risks related to MEMP’s ability to generate sufficient cash flow to pay distributions, to make payments on its debt obligations and to execute its business plan; MEMP’s ability to access funds on acceptable terms, if at all, because of the terms and conditions governing MEMP’s indebtedness or otherwise; and the risk that MEMP’s hedging strategy may be ineffective or may reduce its income. Please read MEMP’s filings with the Securities and Exchange Commission (“SEC”), including “Risk Factors” in MEMP’s Annual Report on Form 10-K, and if applicable, MEMP’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on MEMP’s Investor Relations website at http://investor.memorialpp.com/sec.cfm or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, MEMP undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

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Use of Non-GAAP Financial Measures

This press release and accompanying schedules include the non-GAAP financial measures of Adjusted EBITDA and Distributable Cash Flow. The accompanying schedules provide a reconciliation of these non-GAAP financial measures to their most directly comparable financial measure calculated and presented in accordance with GAAP. MEMP’s non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income, operating income, net cash flows provided by operating activities or any other measure of financial performance calculated and presented in accordance with GAAP. MEMP’s non-GAAP financial measures may not be comparable to similarly-titled measures of other companies because they may not calculate such measures in the same manner as MEMP does.

Adjusted EBITDA. MEMP defines Adjusted EBITDA as net income or loss, plus interest expense; income tax expense; depreciation, depletion and amortization; impairment of goodwill and long-lived assets; accretion of asset retirement obligations; losses on commodity derivative instruments; cash settlements received on expired commodity derivative instruments; losses on sale of assets; unit-based compensation expenses; exploration costs; acquisition and divestiture related costs; bad debt expense; and other non-routine items, less interest income; gain on extinguishment of debt; income tax benefit; gains on commodity derivative instruments; cash settlements paid on expired commodity derivative instruments; gains on sale of assets and other, net; and other non-routine items. Adjusted EBITDA is commonly used as a supplemental financial measure by management and external users of MEMP’s financial statements, such as investors, research analysts and rating agencies, to assess: (1) its operating performance as compared to other companies and partnerships in MEMP’s industry without regard to financing methods, capital structures or historical cost basis; (2) the ability of its assets to generate cash sufficient to pay interest, support MEMP’s indebtedness and make distributions on its units; and (3) the viability of projects and the overall rates of return on alternative investment opportunities. Since Adjusted EBITDA excludes some, but not all, items that affect net income or loss and because these measures may vary among other companies, the Adjusted EBITDA data presented in this press release may not be comparable to similarly titled measures of other companies. The GAAP measure most directly comparable to Adjusted EBITDA is net cash provided by operating activities.

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Distributable Cash Flow. MEMP defines distributable cash flow as Adjusted EBITDA, less cash income taxes; cash interest expense; and total capital expenditures. Management compares the distributable cash flow MEMP generates to the cash distributions it expects to pay MEMP’s partners. Using this metric, management computes MEMP’s distribution coverage ratio. Distributable cash flow is an important non-GAAP financial measure for MEMP’s limited partners since it serves as an indicator of MEMP’s success in providing a cash return on investment. Specifically, this financial measure indicates to investors whether or not MEMP is generating cash flows at a level that can sustain or support an increase in its quarterly cash distributions. Distributable cash flow is also a quantitative standard used by the investment community with respect to publicly traded partnerships because the value of a partnership unit is, in part, measured by its yield, which is based on the amount of cash distributions a partnership can pay to a unitholder. The GAAP measure most directly comparable to distributable cash flow is net cash provided by operating activities. On June 1, 2016 MEMP acquired its general partner from Memorial Resource Development Corp. In connection with that acquisition, the MEMP general partner interest was converted into a non-economic interest and the MEMP incentive distribution rights (“IDRs”) were cancelled. Prior to that acquisition, MEMP’s calculation of quarterly distributions required the calculation of Operating Surplus under the MEMP partnership agreement, which required the use of “estimated maintenance capital expenditures” for such calculation. Accordingly, in previous periods MEMP used estimated maintenance capital expenditures to calculate Distributable Cash Flow for each period. Beginning with its acquisition of its general partner and cancellation of the IDRs, Operating Surplus is no longer relevant to the calculation of distributions. Accordingly, MEMP no longer uses estimated maintenance capital expenditures to calculate Distributable Cash Flow. In addition, in the current commodity price environment all of MEMP’s capital expenditures are maintenance capital expenditures. Accordingly, MEMP presents Distributable Cash Flow as using capital expenditures rather than estimated maintenance capital expenditures in such calculation. Distributable Cash Flow has been recalculated for the historical periods presented in this press release for consistency.

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Selected Operating and Financial Data (Tables)

Memorial Production Partners LP

Selected Financial Data - Unaudited

Statements of Operations Data

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Selected Financial Data - Unaudited

Balance Sheet Data

Selected Financial Data - Unaudited

Statements of Cash Flows Data

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Selected Operating and Financial Data (Tables)

Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures

Adjusted EBITDA

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Selected Operating and Financial Data (Tables)

Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures

Distributable Cash Flow

2016 Adjusted EBITDA and Distributable Cash Flow Guidance Reconciliation Table

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Contacts

Memorial Production Partners LP

Bobby Stillwell – Chief Financial Officer

(713) 588-8347

ir@memorialpp.com

Memorial Production Partners LP

Martyn Willsher – Treasurer

(713) 588-8346

ir@memorialpp.com

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