AUSTIN, Texas--(BUSINESS WIRE)--Apr. 23, 2013--
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today
announced a cash distribution of $0.348 per unit on its common and
subordinated units. This prorated amount corresponds to 72 days of a
quarterly cash distribution rate of $0.435 per unit, which exceeds the
minimum quarterly distribution of $0.425 per unit. This first quarter
distribution corresponds to an annualized distribution rate of $1.74 per
unit. The Partnership’s first distribution is prorated to cover the
portion of the quarter after January 18, 2013 -- the closing date of the
Partnership’s initial public offering -- through March 31, 2013. The
prorated distribution will be paid on May 15 to unitholders of record as
of the close of business on May 3, 2013. USA Compression Holdings, LLC,
the owner of 62.2% of the Partnership’s outstanding common and
subordinated units, has informed the Partnership that it intends to
reinvest under the Partnership’s Distribution Reinvestment Plan all of
such distribution it receives on its units.
First Quarter Earnings Conference Call
In addition, the Partnership announced today it will release its first
quarter 2013 financial results prior to the opening of U.S. financial
markets on Thursday, May 9. Partnership management will conduct an
investor conference call the same day starting at 10 a.m. EDT (9 a.m.
CDT) to discuss the operating and financial results. The call will be
broadcast live over the internet. Investors may participate either by
phone or audio webcast.
By Phone:
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Dial 877-546-5018 inside the U.S. and Canada at least 10 minutes
before the call and ask for the USA Compression Partners Earnings
Call. Investors outside the U.S. and Canada should dial
857-244-7550. The passcode for both is 86001761.
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A replay of the call will be available through May 16. Callers
inside the U.S. and Canada may access the replay by dialing
888-286-8010. Investors outside the U.S. and Canada should dial
617-801-6888. The pass code for both is 61891613.
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By Webcast:
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Connect to the webcast via the “Events” page of USA Compression’s
Investor Relations website at http://investors.usacpartners.com.
Please log in at least 10 minutes in advance to register and
download any necessary software. A replay will be available
shortly after the call.
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ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited
partnership that is one of the nation’s largest independent providers of
compression services in terms of total compression unit horsepower. The
company partners with a broad customer base composed of producers,
processors, gatherers and transporters of natural gas. USA Compression
focuses on deploying large-horsepower infrastructure applications
primarily in high volume gathering systems, processing facilities and
transportation applications. More information is available at www.usacpartners.com.
NON-US WITHHOLDING INFORMATION
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent (100.0%) of the Partnership’s distributions to non-U.S.
investors as being attributable to income that is effectively connected
with a United States trade or business. Accordingly, the Partnership’s
distributions to non-U.S. investors are subject to federal income tax
withholding at the highest applicable effective tax rate.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking statements as
defined under federal law. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of the Partnership, and a variety of risks that could cause
results to differ materially from those expected by management of the
Partnership. The Partnership undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
Source: USA Compression Partners, LP
Dennard-Lascar Associates
Jack Lascar, 713-529-6600
jlascar@dennardlascar.com
or
Anne
Pearson, 210-408-6321
apearson@dennardlascar.com