Universal Compression Partners Announces Prorated Cash Distributionadmin
Universal Compression Partners, L.P. announced a cash distribution of $0.278 per unit payable on February 14, 2007, to unitholders of record at the close of business on February 7, 2007.
The distribution reflects the pro rata share of the partnership’s minimum quarterly distribution of $0.35 per unit and covers the time period from the closing of the partnership’s initial public offering on October 20, 2006, through December 31, 2006.
Universal Compression Partners was recently formed by Universal Compression Holdings, Inc. (NYSE: UCO – News) 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.
Source: Universal Compression Partners, L.P.