OKLAHOMA CITY, April 21, 2014 /PRNewswire/ -- Compressco
Partners, L.P. (NASDAQ: GSJK) announced today that the board of
directors of its general partner has declared a cash distribution
attributable to the quarter ended March 31,
2014 of $0.445 per outstanding
unit, or $1.78 per outstanding unit
on an annualized basis. This amount is an increase of $0.0075 per outstanding unit over the previous
distribution of $0.4375, and an
increase of $0.02 per outstanding
unit over the distribution of $0.425
($1.70 on an annualized basis)
attributable to the first quarter of 2013. This cash distribution
will be paid on May 15, 2014 to all
unitholders of record as of the close of the business on
May 1, 2014.
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In addition, Compressco Partners expects to release its first
quarter 2014 earnings results on Thursday,
May 8, 2014 and will host a conference call at 10:30 a.m. Eastern Time on that day to discuss
the earnings results. The phone number for the call is
877/870-4263. The conference will also be available by live audio
webcast and may be accessed through Compressco Partners' website at
www.compressco.com. The earnings press release will be available on
Compressco Partners' website prior to the conference call. A
replay of the call will be available at 877/344-7529, conference
number 10044265, for one week following the conference, and the
archived webcast will be available through Compressco Partners'
website for thirty days following the conference.
Compressco Partners is a provider of compression-based
production enhancement services, which are used in both
conventional wellhead compression applications and unconventional
compression applications, and in certain circumstances, well
monitoring and sand separation services. Compressco Partners
provides services to a broad base of natural gas and oil
exploration and production companies operating throughout many of
the onshore producing regions of the
United States. Internationally, Compressco Partners has
significant operations in Mexico
and Canada and a growing presence
in certain countries in South
America, Europe, and the
Asia-Pacific region. Compressco
Partners is managed by Compressco Partners GP Inc., which is an
indirect, wholly owned subsidiary of TETRA Technologies, Inc.
(NYSE: TTI).
Forward Looking Statements
This press release includes certain statements that are deemed
to be forward-looking statements. Generally, the use of words such
as "may," "expect," "intend," "estimate," "projects," "anticipate,"
"believe," "assume," "could," "should," "plans," "targets," or
similar expressions that convey the uncertainty of future events,
activities, expectations, or outcomes identify forward-looking
statements. These forward-looking statements include statements
concerning expected results of operations for 2014, anticipated
activities by our customers, financial guidance, estimated
distributable cash, estimated earnings, earnings per unit, and
statements regarding Compressco Partners' beliefs, expectations,
plans, goals, future events, and performance, and other statements
that are not purely historical. These forward-looking statements
are based on certain assumptions and analyses made by Compressco
Partners in light of its experience and its perception of
historical trends, current conditions, expected future
developments, and other factors it believes are appropriate in the
circumstances. Such statements are subject to a number of risks and
uncertainties, many of which are beyond the control of Compressco
Partners. Investors are cautioned that any such statements are not
guarantees of future performances or results and that actual
results or developments may differ materially from those projected
in the forward-looking statements. Some of the factors that could
affect actual results are described in Compressco Partners' Annual
Report on Form 10-K for the year ended December 31, 2013, as well as other risks
identified from time to time in its reports on Form 10-Q and Form
8-K filed with the U.S. Securities and Exchange Commission.
Compressco Partners undertakes no obligation to update or revise
any forward-looking statement to reflect new information or
events.
This press release serves as qualified notice to nominees as
provided for under Treasury Regulation Section 1.1446-4(b)(4) and
(d). Compressco Partners' distributions to foreign investors are
subject to federal tax withholding at the highest applicable
effective tax rate. Nominees are treated as withholding agents
responsible for withholding distributions received by them on
behalf of foreign investors.
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SOURCE Compressco Partners, L.P.