Universal Compression Partners Appoints Three Independent Directors to Its Board
November 30 2006 - 7:00AM
PR Newswire (US)
HOUSTON, Nov. 30 /PRNewswire-FirstCall/ -- The general partner of
Universal Compression Partners, L.P. (NASDAQ:UCLP) today announced
that James G. Crump, G. Stephen Finley and Mark A. McCollum have
been appointed as independent board members on its Board of
Directors and will serve on the board's audit, compensation and
conflicts committees. "We are pleased that these three talented
individuals have joined our board as independent directors," said
Stephen A. Snider, Chairman, President and Chief Executive Officer
of Universal Compression Partners' general partner. "Their
significant experience with financial and corporate governance
matters in the energy industry will be invaluable as we seek to
continue to grow Universal Compression Partners." Mr. Crump, who
was appointed as a director effective October 16, 2006, worked as
an accountant at PricewaterhouseCoopers and its predecessors until
his retirement, including in numerous management and leadership
roles such as Global Energy and Mining Cluster Leader, as a member
of the U.S. Management Committee and the Global Management
Committee and as Houston Office Managing Partner. Mr. Crump also
serves as a director of Copano Energy, L.L.C. Mr. Finley, who was
appointed as a director effective November 20, 2006, is the retired
Senior Vice President - Finance and Administration and Chief
Financial Officer of Baker Hughes Incorporated. Previously at Baker
Hughes, Mr. Finley served as Senior Vice President and Chief
Administrative Officer and also as Controller. Mr. Finley also
serves as a director of Ocean Rig ASA. Mr. McCollum, who was
appointed as a director effective October 16, 2006, serves as the
Senior Vice President and Chief Accounting Officer of Halliburton
Company. Mr. McCollum previously served as the Senior Vice
President and Chief Financial Officer of Tenneco Automotive, Inc.
Universal Compression Partners was recently formed by Universal
Compression Holdings, Inc. (NYSE:UCO) to provide natural gas
contract compression services to customers throughout the United
States and was started with an initial fleet comprising
approximately 330,000 horsepower, or approximately 17% by available
horsepower of Universal Compression Holdings' domestic contract
compression business at that time. Universal Compression Holdings
owns approximately 51 percent of Universal Compression Partners.
Forward-Looking Statements This press release contains
"forward-looking statements" intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact contained in this press release are
forward-looking statements, including, without limitation, our
statements regarding the impact of the addition of our new
directors and our continued growth. Such forward-looking statements
are subject to various risks and uncertainties that could cause
actual results to differ materially from those anticipated as of
the date of this press release. These forward looking statements
are also affected by the risk factors and forward looking
statements described in, among other places, our Registration
Statement on Form S-1 (File No. 333-135351) as declared effective
by the Securities and Exchange Commission ("SEC") on October 16,
2006, our Form 10-Q for the period ended September 30, 2006 and
those set forth from time to time in our other filings with the
SEC, which are available through our website and through the SEC's
Electronic Data Gathering and Retrieval System ("EDGAR") at
http://www.sec.gov/ . Although we believe that the expectations
reflected in these forward-looking statements are based on
reasonable assumptions, no assurance can be given that these
expectations will prove to be correct. Important factors that could
cause our actual results to differ materially from the expectations
reflected in these forward-looking statements include, among other
things: conditions in the oil and gas industry, including a
sustained decrease in the level of supply or demand for natural gas
and the impact on the price of natural gas; competition among the
various providers of natural gas compression services; our
relationship with and the success of Universal Compression
Holdings, which controls our general partner and has sole
responsibility for conducting our business and managing our
operations; changes in safety and environmental regulations
pertaining to the production and transportation of natural gas; and
changes in political or economic conditions in key operating
markets. All forward-looking statements included in this press
release are based on information available to us on the date of
this press release. We undertake no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise. All subsequent written and
oral forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
the cautionary statements contained in this press release.
http://www.newscom.com/cgi-bin/prnh/20061130/DATH005LOGO
http://photoarchive.ap.org/ DATASOURCE: Universal Compression
Partners, L.P. CONTACT: David Oatman, Vice President, Investor
Relations of Universal Compression, +1-713-335-7460 Web site:
http://www.universalcompression.com/
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