Eagle Rock Energy Partners, L.P. Declares a Cash Distribution of $.41 per Unit, 2.5%...
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Eagle Rock Energy Partners, L.P. Declares a Cash Distribution of $.41 per Unit, 2.5% Distribution Increase, for the Second Quarter 2008 and Announces Second Quarter 2008 Earnings Release Date and Conference Call Information
HOUSTON--(Business Wire)--
Eagle Rock Energy Partners, L.P. (Nasdaq GS:EROC) (the
"Partnership") today declared a cash distribution of $0.41 per unit
for the quarter ended June 30, 2008, a 2.5% increase to its
distribution made for the first quarter of 2008 and in line with its
previously-announced plan to recommend such distribution to the Board
of Directors. The distribution, which equates to $1.64 per unit on an
annualized basis, will be paid August 14, 2008 to all unitholders of
record as of August 8, 2008.
Joseph A. Mills, chairman and chief executive officer stated, "Our
diversified asset base once again delivered strong financial results
and operating performance. The Company's assets and cash flows support
the distribution increase despite the previously announced, scheduled
downtime at our Big Escambia Creek ("BEC") plant in April, and the
fact that our Stanolind acquisition only favorably impacted our
financial results for two months in the quarter. With a full quarter
of Stanolind's operations and normalized operations across all of our
assets, we expect to recommend to our Board of Directors a further
increase to our third quarter 2008 distribution."
The Partnership also announced today it will report second quarter
2008 financial results after the market closes for trading on Tuesday,
August 5, 2008. A second quarter earnings call will be held at 9 a.m.
CT (10 a.m. ET) on Wednesday, August 6, 2008.
Interested parties may listen live over the Internet or via
telephone. To listen live over the Internet, log on to the
Partnership's Web site at www.eaglerockenergy.com. To participate by
telephone, the call in number is 888-713-4214, confirmation code
40471280. Investors are advised to dial into the call at least 15
minutes prior to the call to register. Participants may pre-register
for the call by using the following link to pre-register and view
important information about this conference call. Pre-registering is
not mandatory but is recommended as it will provide you immediate
entry to the call and will facilitate the timely start of the call.
Pre-registration only takes a few moments and you may pre-register at
any time, including up to and after the call start. To pre-register,
please click
https://www.theconferencingservice.com/prereg/key.process?key=PDLYW7C7
J. (Due to its length, this URL may need to be copied/pasted into your
internet browser's address field. Remove the extra space if one
exists.) An audio replay of the conference call will also be available
for seven days by dialing 888-286-8010, confirmation code 61605687. In
addition, a replay of the audio webcast will be available by accessing
the Partnership's Web site after the call is concluded.
The Partnership is a growth-oriented master limited partnership
engaged in three businesses: a) midstream, which includes (i)
gathering, compressing, treating, processing, transporting and selling
natural gas, and (ii) fractionating and transporting natural gas
liquids; b) upstream, which includes acquiring, exploiting,
developing, and producing crude oil and natural gas interests; and c)
minerals, which includes acquiring and managing fee minerals and
royalty interests. Its corporate office is located in Houston, Texas.
"Board of Directors" in this press release refers to the Board of
Directors of the general partner of the general partner of the
Partnership.
This news release may include "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical facts, included in
this press release that address activities, events or developments
that the Partnership expects, believes or anticipates will or may
occur in the future are forward-looking statements. These statements
are based on certain assumptions made by the Partnership based on its
experience and perception of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate under the circumstances. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are
beyond the control of the Partnership, which may cause the
Partnership's actual results to differ materially from those implied
or expressed by the forward-looking statements. For a detailed list of
the Partnership's risk factors, please consult the Partnership's Form
10-K, filed with the Securities and Exchange Commission for the year
ended December 31, 2007.
Eagle Rock Energy Partners, L.P.
Elizabeth Wilkinson, 281-408-1329
Copyright Business Wire 2008
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