Press release from Business Wire
USA Compression Announces Increased Quarterly Distribution; 2nd Quarter 2013 Earnings Release and Conference Call Set for August 13
Tuesday, July 23, 2013
USA Compression Announces Increased Quarterly Distribution; 2nd Quarter 2013 Earnings Release and Conference Call Set for August 1307:00 EDT Tuesday, July 23, 2013
AUSTIN, Texas (Business Wire) -- USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today announced a cash distribution of $0.44 per unit on its common and subordinated units, which corresponds to an annualized distribution rate of $1.76 per unit (up from a quarterly amount equal to $0.435, as prorated in the first quarter, and an annualized distribution rate of $1.74 based on the Partnership's first quarter distribution). The distribution will be paid on August 14, 2013 to unitholders of record as of the close of business on August 2, 2013. USA Compression Holdings, LLC, the owner of 62.6% 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 this distribution with respect to its units.
Second Quarter Earnings Conference Call
In addition, the Partnership announced today it will release its second quarter 2013 results prior to the opening of U.S. financial markets on Tuesday, August 13, 2013. Management will conduct an investor conference call the same day starting at 10 a.m. EDT (9 a.m. CDT) to discuss financial and operating results. The call will be broadcast live over the internet. Investors may participate either by phone or audio webcast.
|By Phone:||Dial 866-202-0886 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 617-213-8841. The passcode for both is 83185784.|
|A replay of the call will be available through August 20, 2013. 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 passcode for both is 32572487.|
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 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.
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