Exhibit 99.1

LRR Energy, L.P. Announces Third Quarter 2012 Results

Houston, Texas (November 5, 2012) - LRR Energy, L.P. (NYSE: LRE) (“LRR Energy”) announced today its operating and financial results for the three and nine months ended September 30, 2012.

Highlights for the three months ended September 30, 2012

·                              Reported quarterly records of average net production of 6,663 Boe per day and Adjusted EBITDA of $19.5 million (see reconciliation of Non-GAAP financial measures on page 9)

·                              Increased Distribution Coverage Ratio to 1.14x for the three months ended September 30, 2012 (see reconciliation of Non-GAAP financial measures on page 9)

·                              As planned, successfully completed eight new wells in our largest field, Red Lake, with better than expected initial production results

·                              Successfully completed the Nowata #1ST well at our Pecos Slope field, with strong initial production results

Eric Mullins, Chairman and Co-Chief Executive Officer, commented, “We are pleased with our record third quarter results.  Our strong quarter enabled us to increase our distribution and strengthen our distribution coverage ratio.” Charlie Adcock, Co-Chief Executive Officer, reflected that, “During the third quarter, we continued to experience better than expected production results from our drilling program in our Red Lake field.”

Our financial statements for the nine months ended September 30, 2012 have been recast as if we had owned the assets acquired on June 1, 2012 from Lime Rock Resources since our initial public offering, as the transaction was between entities under common control.

Results for the three months ended September 30, 2012

·                              Total revenues were $9.2 million

·                              Net loss was $15.6 million and net loss per limited partner unit (basic and diluted) was $0.69

·                              Total cash capital expenditures were $13.1 million

·                              Distributable Cash Flow was $12.2 million (see reconciliation of Non-GAAP financial measures on page 9)

·                              Net losses on commodity derivative instruments totaled $15.7 million, including $5.8 million of realized gains and $21.5 million of unrealized losses

·                              Lease operating expenses (LOE) were $6.9 million, or $11.29 per Boe

·                              Production and ad valorem taxes were $2.0 million, or $3.24 per Boe

·                              Depletion and depreciation expense was $8.3 million, or $13.49 per Boe

·                              General and administrative expense was $2.3 million, or $3.74 per Boe

·                              Interest expense was $2.1 million

Recent Events

On October 15, 2012, LRR Energy announced that the Board of Directors of its general partner declared a cash distribution for the third quarter of 2012 of $0.4775 per outstanding unit, or $1.91 on an annualized basis.  The distribution will be paid on November 14, 2012 to all unitholders of record as of the close of business on October 30, 2012.

Our average net production for October 2012 was approximately 6,350 Boe/d.

2012 Guidance

We are increasing the low end of our production guidance range from 6,100 to 6,250 Boe/day. Our new range for full year 2012 production guidance is 6,250 to 6,400 Boe/day.  We are also reaffirming the following previously disclosed 2012 guidance.

The guidance above sets forth management’s best estimate based on current and anticipated market conditions and other factors. While we believe that these estimates and assumptions are reasonable, they are inherently uncertain and are subject to, among other things, significant business, economic, regulatory, environmental and competitive risks and uncertainties that could cause actual results to differ materially from those we anticipate, as set forth under “Forward-Looking Statements.”

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Commodity Derivative Contracts

As of September 30, 2012, LRR Energy had the following outstanding derivative contracts.

Subsequent to September 30, 2012, LRR Energy entered into the following commodity hedges.

Quarterly Report on Form 10-Q

LRR Energy expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission no later than November 14, 2012. The 10-Q will be available on the Investor Relations page of LRR Energy’s website, www.lrrenergy.com, or from the Securities and Exchange Commission website, www.sec.gov.

Webcast and Conference Call

LRR Energy will host a webcast and conference call this morning, Monday, November 5, 2012 at 10:00 a.m. EST (9:00 a.m. CST) to discuss these results.  Interested parties are invited to participate in the call by dialing 1-877-493-8071 (conference ID: 38666176). It is recommended that participants dial in approximately 10 minutes prior to the start of the conference call.  Participants may access the webcast, titled “LRR Energy, L.P. Third Quarter 2012 Results Conference Call,” from LRR Energy’s website, www.lrrenergy.com, under the tab for “Investor Relations.”

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A telephonic replay will be available after the call through November 13, 2012. Participants may access this replay by dialing 1-800-585-8367 (conference ID: 38666176).

About LRR Energy, L.P.

LRR Energy is a Delaware limited partnership formed in April 2011 by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America. LRR Energy’s properties are located in the Permian Basin region in West Texas and southeast New Mexico, the Mid-Continent region in Oklahoma and East Texas and the Gulf Coast region in Texas.

Forward-Looking Statements

This press release includes “forward-looking statements” — that is, statements related to future events. Forward-looking statements are based on the current expectations of LRR Energy and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “may,” “predict,” “pursue,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “target,” “continue,” “potential,” “should,” “could” and other similar words.  Forward-looking statements in this press release relate to, among other things, LRR Energy’s expectations regarding future results, production volumes, lease operating expenses and capital expenditures. Actual results and future events could differ materially from those anticipated or implied in such statements. Forward-looking statements involve certain risks and uncertainties, and ultimately may not prove to be accurate.  These risks and uncertainties include, among other things, a decline in oil, natural gas or NGL prices, the risk and uncertainties involved in producing oil and natural gas, competition in the oil and natural gas industry, governmental regulations and other factors.  Actual results could differ materially from those anticipated or implied in the forward-looking statements due to the factors described under the captions “Risk Factors” in LRR Energy’s Annual Report on Form 10-K for the year ended December 31, 2011 and LRR Energy’s subsequent filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. Other than required under the securities laws, LRR Energy does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement.

Investor Contacts:

Todd Hassen

Director of Finance

(713) 292-9534

thassen@lrrenergy.com

Jaime Casas

Chief Financial Officer

(713) 345-2126

jcasas@lrrenergy.com

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LRR Energy, L.P.

Selected Operating Data

For the Three and Nine Months Ended September 30, 2012

(unaudited)

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LRR Energy, L.P.

Consolidated Condensed Statement of Operations

For the Three and Nine Months Ended September 30, 2012

(in thousands, except per unit amounts)

(unaudited)

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LRR Energy, L.P.

Consolidated Condensed Statement of Cash Flows

For the Nine Months Ended September 30, 2012

(in thousands)

(unaudited)

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LRR Energy, L.P.

Consolidated Condensed Balance Sheet

September 30, 2012

(in thousands, except unit amounts)

(unaudited)

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LRR Energy, L.P.

Non-GAAP Reconciliation

For the Three and Nine Months Ended September 30, 2012

(in thousands)

(unaudited)

We define Adjusted EBITDA as net income (loss) plus income tax expense (benefit); interest expense-net, including realized and unrealized losses on interest rate derivative contracts; depletion and depreciation; accretion of asset retirement obligations; amortization of equity awards; (gain) loss on settlement of asset retirement obligations; unrealized losses on commodity derivative contracts; impairment of oil and natural gas properties; less interest income; unrealized gains on commodity derivative contracts and other non-recurring items that we deem appropriate. Distributable Cash Flow is defined as Adjusted EBITDA less income tax expense; cash interest expense; and estimated maintenance capital expenditures. Distribution Coverage Ratio is defined as the ratio of Distributable Cash Flow to the total quarterly distribution payable on all of our outstanding common, subordinated and general partner units.

Adjusted EBITDA, Distributable Cash Flow and the Distribution Coverage Ratio are used as supplemental financial measures by our management and by external users of our financial statements, such as investors, commercial banks and others, to assess our operating performance as compared to that of other companies and partnerships in our industry, without regard to financing methods, capital structure or historical cost basis and the ability of our assets to generate sufficient cash flow to make distributions to our unitholders.

Our management believes that Adjusted EBITDA, Distributable Cash Flow and the Distribution Coverage Ratio are useful to investors because these measures are used by many partnerships in the industry as measures of operating and financial performance and are commonly employed by financial analysts and others to evaluate our operating and financial performance from period to period and to compare it with the performance of other publicly traded partnerships within the industry. Adjusted EBITDA, Distributable Cash Flow and the Distribution Coverage Ratio should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measures of financial performance or liquidity presented in accordance with GAAP. Our Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted EBITDA, Distributable Cash Flow or the Distribution Coverage Ratio in the same manner. The following table presents a reconciliations of Adjusted EBITDA to net income, our most directly comparable GAAP financial performance measure, for the three and nine months ended September 30, 2012.

The following table presents a reconciliation of Distributable Cash Flow and the Distribution Coverage Ratio to Adjusted EBITDA for the three and nine months ended September 30, 2012. Adjusted EBITDA is reconciled to net income, our most directly comparable GAAP financial performance measure, above.

(1)          Amount represents annual amount pro-rated for the period.

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