Constellation Energy Partners LLC; Cash Distribution
Constellation Energy Partners LLC just announced a report saying that a cash distribution for the quarter ended June 30, 2008 of $0.5625 per outstanding common unit and Class A unit, or $2.25 per unit on an annualized basis. The distribution will be payable on August 14, 2008 to unitholders of record at the close of business on Aug. 7, 2008. No distribution will be made to the Class D unitholder for the same period as distributions to the Class D unitholder were suspended in connection with the arbitration proceeding surrounding the net profits interest held by Torch Energy Royalty Trust.
As a result of the ruling in the arbitration proceeding announced on July 18, 2008, quarterly distributions to the Class D unitholder in the amount of $333,333.33 are expected to be reinstated beginning with the cash distribution for the quarter ending Sept. 30, 2008. In addition, a one-time special cash distribution to the Class D unitholder in the amount of $666,666.66 which represents the distributions that were suspended for the quarterly periods ended March 31 and June 30, 2008, is expected to be made on or before Nov. 14, 2008.
Constellation Energy Partners LLC is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets.
Source: Constellation Energy Partners LLC