AUSTIN, Texas--(BUSINESS WIRE)--Oct. 23, 2014--
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today
announced an increased cash distribution of $0.505 per unit on its
common and subordinated units for the third quarter of 2014, which
corresponds to an annualized distribution rate of $2.02 per unit, up
from the second quarter’s distribution rate of $0.50 per unit, or an
annualized rate of $2.00. The Partnership’s third quarter distribution
rate is an increase of 1.0% over the second quarter of 2014 and is up
9.8% year-over-year. The distribution will be paid on November 14, 2014,
to unitholders of record as of the close of business on November 4, 2014.
USA Compression Holdings, LLC, the owner of 41.7% of the Partnership’s
outstanding limited partnership units, and Argonaut Private Equity and
certain related parties, the owners of 16.2% of the Partnership’s
outstanding limited partnership units, have committed to reinvest all of
this distribution with respect to their units pursuant to the
Partnership’s Distribution Reinvestment Plan. Investors can find more
detailed instructions regarding the DRIP via USA Compression’s Investor
Relations website at http://investors.usacpartners.com.
Third Quarter Earnings Conference Call
In addition, the Partnership announced today it will release its third
quarter 2014 results prior to the opening of U.S. financial markets on
Thursday, October 30. Management will conduct an investor conference
call the same day starting at 11 a.m. Eastern Time (10 a.m. Central
Time) to discuss financial and operating results. The call will be
broadcast live over the internet. Investors may participate either by
phone or audio webcast.
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By Phone:
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Dial 888-430-8694 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
719-325-2215. The conference ID for both is 9112838.
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A replay of the call will be available through November 10, 2014.
Callers inside the U.S. and Canada may access the replay by dialing
888-203-1112. Investors outside the U.S. and Canada should dial
719-457-0820. The passcode for both is 9112838.
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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 and crude oil. USA
Compression focuses on providing compression services to infrastructure
applications primarily in high volume gathering systems, processing
facilities and transportation applications. More information is
available at www.usacpartners.com.
NON-U.S. 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
USA Compression Partners, LP
William Lehner, 512-369-1623
ir@usacompression.com