AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today announced an increased cash distribution of $0.51 per unit on its common and subordinated units for the fourth quarter of 2014, which corresponds to an annualized distribution rate of $2.04 per unit, up from the third quarter’s distribution rate of $0.505 per unit, or an annualized rate of $2.02. The Partnership’s fourth quarter distribution rate is an increase of 1.0% over the third quarter of 2014 and is up 6.3% year-over-year. The distribution will be paid on February 13, 2015, to unitholders of record as of the close of business on February 3, 2015.
Consistent with previous quarters, USA Compression Holdings, LLC, the owner of 42.0% of the Partnership’s outstanding limited partnership units, and Argonaut Private Equity and certain related parties, the owners of 16.3% of the Partnership’s outstanding limited partnership units, will be reinvesting all of this distribution with respect to their units pursuant to the Partnership’s Distribution Reinvestment Plan. Both parties have currently committed to DRIP through the first quarter 2015 distribution. Investors can find more detailed instructions regarding the DRIP via USA Compression’s Investor Relations website at http://investors.usacpartners.com.
Full Year and Fourth Quarter 2014 Earnings Conference Call
In addition, the Partnership announced today it will release its full year and fourth quarter 2014 results prior to the opening of U.S. financial markets on Tuesday, February 17. 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.
|By Phone:||Dial 888-523-1228 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 719-325-2244. The conference ID for both is 6085302.|
|A replay of the call will be available through February 28, 2015. 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 6085302.|
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 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.
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.