Memorial Production Partners LP Announces Second Quarter 2016 Cash Distribution and Second Quarter 2016 Earnings Conference C...
July 27 2016 - 6:00AM
Memorial Production Partners LP (NASDAQ:MEMP) announced today that
the board of directors of its general partner declared a cash
distribution of $0.03 per unit for the second quarter of 2016 which
is consistent with the first quarter of 2016 distribution. This
distribution represents an annualized amount of $0.12 per unit and
will be paid on August 12, 2016 to unitholders of record as of the
close of business on August 5, 2016.
MEMP also announced today that it will report
second quarter 2016 financial and operating results before the
market opens for trading on August 3, 2016. Following the
announcement, management will host a second quarter 2016 earnings
conference call at 10 a.m. CT. Interested parties are invited to
participate on the call by dialing (844) 735-9435 (Conference ID:
52712193) at least 15 minutes prior to the start of the call or via
the internet at www.memorialpp.com. A replay of the call will
be available on MEMP’s website or by phone at (855) 859-2056
(Conference ID: 52712193) for a seven-day period following the
call.
This release serves as qualified notice to
nominees as provided for under Treasury Regulation Section
1.1446-4(b) (4) and (d). Please note that 100% of MEMP's
distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of MEMP's distributions to foreign investors are
subject to federal income tax withholding at the highest effective
tax rate for individuals or corporations, as applicable. Nominees,
and not MEMP, are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
Memorial Production Partners LP is a publicly
traded partnership engaged in the acquisition, production and
development of oil and natural gas properties in the United States.
MEMP’s properties consist of mature, legacy oil and natural gas
fields. MEMP is headquartered in Houston, Texas. For more
information, visit www.memorialpp.com.
Forward-Looking Statements
This press release includes "forward-looking
statements." All statements, other than statements of historical
facts, included in this press release that address activities,
events or developments that MEMP expects, believes or anticipates
will or may occur in the future are forward-looking statements.
Terminology such as "will," "would," "should," "could," "expect,"
"anticipate," "plan," "project," "intend," "estimate," "believe,"
"target," "continue," "potential," the negative of such terms or
other comparable terminology are intended to identify
forward-looking statements. These statements include, but are not
limited to, statements about MEMP's expectations regarding cash
flows, distributions and distribution rates. These statements are
based on certain assumptions made by MEMP based on its experience
and perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances, but such assumptions may prove to be
inaccurate. Such statements are also subject to a number of risks
and uncertainties, many of which are beyond the control of MEMP,
which may cause MEMP's actual results to differ materially from
those implied or expressed by the forward-looking statements. These
include risks and uncertainties relating to, among other things,
the uncertainty inherent in the development and production of oil,
natural gas and natural gas liquids and in estimating reserves;
drilling activities; volatility in the prices for, oil, natural gas
and natural gas liquids, including a further or extended decline in
commodity prices; potential difficulties in the marketing of oil,
natural gas and natural gas liquids; competition in the oil and
natural gas industry; potential failure or shortages of, or
increased costs for, drilling and production equipment and supply
materials for production; risks related to acquisitions, including
MEMP's ability to integrate acquired properties; risks related to
MEMP's ability to generate sufficient cash flow to pay
distributions, to make payments on its debt obligations and to
execute its business plan; MEMP's ability to access funds on
acceptable terms, if at all, because of the terms and conditions
governing MEMP's indebtedness or otherwise; and the risk that
MEMP's hedging strategy may be ineffective or may reduce its
income. Please read MEMP's filings with the Securities and Exchange
Commission (“SEC”), including "Risk Factors" in MEMP's Annual
Report on Form 10-K, and if applicable, MEMP's Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, which are available on
MEMP’s Investor Relations website at
http://investor.memorialpp.com/sec.cfm or on the SEC’s website
at http://www.sec.gov, for a discussion of risks and uncertainties
that could cause actual results to differ from those in such
forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. All forward-looking statements
in this press release are qualified in their entirety by these
cautionary statements. Except as required by law, MEMP undertakes
no obligation and does not intend to update or revise any
forward-looking statements, whether as a result of new information,
future results or otherwise.
Contacts
Memorial Production Partners LP
Bobby Stillwell – Chief Financial Officer
(713) 588-8347
ir@memorialpp.com
Memorial Production Partners LP
Martyn Willsher – Treasurer
(713) 588-8346
ir@memorialpp.com
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