On May 1, Eagle Rock Energy Partners LP (NASDAQ: EROC) detailed its unaudited financial results for first-quarter 2014, which ended March 31.

The operating income for its upstream business increased 47% from fourth-quarter 2013, the company said, noting the amount was about $6.5 million. The increase was due to higher realized natural gas and sulfur prices, and also lower expenses for depreciation, depletion and amortization, Eagle Rock added.

Over the quarter, winter weather impacted financial results, Eagle Rock said, noting that the impact was measurable at $1.8 million.

Operating income for its midstream business increased 29% over fourth-quarter 2013, and was about $3.8 million, the company said.

The company’s corporate segment lost more operating monies over first-quarter 2014—26 million vs. fourth-quarter 2013’s $19.2 million, Eagle Rock said. Commodity derivative losses were larger than commodity derivative gains, the company noted.

Total revenue over the quarter, factoring in these gains and losses, was up 10% from fourth-quarter 2013, the company said. It stood at $348.1 million, compared to $316.2 million, the company added.

The increased revenue was due to higher product sales and was partly offset by the derivative settlements, Eagle Rock noted.

Revenues from oil, natural gas and NGL sales revenues went up 13.9% compared to fourth-quarter 2013, mostly on higher average prices, the company said.

Regarding liquidity, Eagle Rock’s total debt was $1.27 million by March 31, the company said. Of this amount, there was $545.4 million in senior unsecured notes, and $724 million in secured credit facility borrowings, the company noted.

There was about $815 million in the borrowing base and $69.1 million in facility availability, Eagle Rock said. However, because of large cash payments, in late April, the borrowings were increased to $755 million, and availability was reduced to about $38 million, the company added.

The credit facility matures in June 2016, Eagle Rock noted.

Houston-based Eagle Rock Energy Partners LP is an MLP that works domestically.