Press release from Business Wire
USA Compression Announces First Quarter 2013 Distribution; First Quarter 2013 Earnings Release and Conference Call Scheduled for May 9
Tuesday, April 23, 2013
USA Compression Announces First Quarter 2013 Distribution; First Quarter 2013 Earnings Release and Conference Call Scheduled for May 917:08 EDT Tuesday, April 23, 2013
AUSTIN, Texas (Business Wire) -- 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.
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.
|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.|
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.
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.
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.
Jack Lascar, 713-529-6600
Anne Pearson, 210-408-6321