OKLAHOMA CITY--(BUSINESS WIRE)--New Source Energy Partners L.P. (NYSE:NSLP) (the “Partnership”) announced today that the Board of Directors of its General Partner has declared a cash distribution of $0.58 per unit on all outstanding units, or $2.32 on an annualized basis. The approved distribution represents an increase of 1% over the prior quarter’s distribution, and is the third increase over the minimum quarterly distribution declared by the Partnership.
The first quarter distribution will be paid on May 15, 2014 to all unit holders of record on May 1, 2014.
About New Source Energy Partners L.P.
New Source Energy Partners L.P. is an independent energy company focused on delivery through streamlined operations and vertically integrated infrastructure. The Partnership is actively engaged in the development and production of our onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma. In addition, the Partnership is engaged in oilfield services that specialize in increasing efficiencies and safety in drilling and completion processes through its wholly owned subsidiary, MCE LP. For more information on the Partnership please visit www.newsource.com.
This news release contains “forward-looking statements” which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially from the results and other statements contained in this press release. For a full discussion of these risks and uncertainties, please refer to the “Risk Factors” section of the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2013 and the information included in the Partnership’s quarterly and current reports and other public filings. These forward-looking statements are based on and include the Partnership’s expectations as of the date hereof. Subsequent events and market developments could cause the Partnership’s expectations to change. While the Partnership may elect to update these forward-looking statements at some point in the future, the Partnership specifically disclaims any obligation to do so, even if new information becomes available, except as may be required by applicable law.
Note to Non-United States Investors: This press 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%) of New Source Energy Partners L.P.’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, New Source Energy Partners L.P.’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.