THE
WOODLANDS, Texas, Oct. 19,
2023 /PRNewswire/ -- CSI Compressco LP ("CSI
Compressco") (NASDAQ: CCLP) announced today that the board of
directors of its general partner has declared a cash distribution
attributable to the quarter ended September
30, 2023 of $0.01 per
outstanding common unit, or $0.04 per
outstanding common unit on an annualized basis. This cash
distribution will be paid on November 14,
2023 to all common unitholders of record as of the close of
business on October 30, 2023.
CSI Compressco expects to release its third quarter 2023 results
before the opening of the market on Thursday, November 2, 2023. Following the
release, CSI Compressco will host a conference call at 10:30 a.m. Eastern Time to discuss the
results. CSI Compressco invites you to listen to the
conference call by calling the toll-free number 1-866-374-8397. The
conference call will also be available by live audio webcast and
may be accessed through CSI Compressco's website at
www.csicompressco.com. The news release will be available on CSI
Compressco's website prior to the conference call. An audio
replay of the conference call will be available at 1-877-344-7529,
conference number 10183761, replay code 5672618, for one week
following the conference call and the archived webcast will be
available through CSI Compressco's website for thirty days
following the conference call.
About CSI Compressco
CSI Compressco is a provider of compression services and
equipment for natural gas and oil production, gathering, artificial
lift, transmission, processing, and storage. In addition, CSI
Compressco provides a variety of natural gas treating services. CSI
Compressco's contract services business includes a fleet of
approximately 4,500 compressor packages providing approximately 1.2
million in aggregate horsepower, utilizing a full spectrum of low-,
medium- and high-horsepower engines. Additionally, our gas treating
equipment fleet includes natural gas cooling units used to reduce
the temperature of natural gas so that it can be further treated,
processed, or compressed. CSI Compressco also provides well
monitoring and automated sand separation services in conjunction
with compression and related services in Mexico. CSI Compressco's aftermarket business
provides compressor package reconfiguration and maintenance
services. CSI Compressco's customers comprise a broad base of
natural gas and oil exploration and production, midstream,
transmission, and storage companies operating throughout many of
the onshore producing regions of the
United States, as well as in a number of foreign countries,
including Mexico, Canada, Argentina, and Chile. CSI Compressco's General Partner is
owned by Spartan Energy Partners LP. Concurrent with this
announcement we are providing qualified notice to brokers and
nominees that hold CSI Compressco LP units on behalf of non-US
investors as provided for under Treasury Regulation Section
1.1446-4(b)(4) and (d) and Treasury Regulation Section
1.1446(f)-4(c)(2)(iii). Please note that one hundred percent (100%)
of CSI Compressco LP's distributions to foreign investors are
attributable to income that is effectively connected with a
United States trade or business.
Accordingly, all of CSI Compressco LP's distributions to foreign
investors are subject to federal tax withholding at the highest
applicable effective tax rate. Nominees, and not CSI Compressco LP,
are treated as withholding agents responsible for withholding
distributions received by them on behalf of foreign investors. For
purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii),
brokers and nominees should treat one hundred percent (100%) of the
distributions as being in excess of cumulative net income for
purposes of determining the amount to withhold.
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SOURCE CSI Compressco LP