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/

Copyright

Universal Compression Partners, L.P. (MM) (NASDAQ:UCLP)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Universal Compression Partners, L.P. (MM) Charts.
Universal Compression Partners, L.P. (MM) (NASDAQ:UCLP)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Universal Compression Partners, L.P. (MM) Charts.