CSI Compressco LP Announces Quarterly Distribution

Rhea-AI Summary

CSI Compressco LP (NASDAQ: CCLP) announced a cash distribution of $0.01 per common unit for Q3 2021, translating to an annualized rate of $0.04. This distribution will be paid on November 12, 2021 to unitholders of record as of October 25, 2021. The company provides compression services and equipment for oil and natural gas operations, with a fleet of around 4,900 compressor packages and a total horsepower of approximately 1.2 million.

Positive

• Quarterly cash distribution of $0.01 per common unit demonstrates ongoing cash flow.
• Annualized distribution yield of $0.04 provides a continuous return to investors.

Negative

• None.

THE WOODLANDS, Texas, Oct. 15, 2021 /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, 2021 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 12, 2021 to all common unitholders of record as of the close of business on October 25, 2021.

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. CSI Compressco's compression and related services business includes a fleet of approximately 4,900 compressor packages providing approximately 1.2 million in aggregate horsepower, utilizing a full spectrum of low-, medium- and high-horsepower engines.  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 and Argentina. CSI Compressco's General Partner is owned by Spartan Energy Partners LP. This news release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). CSI Compressco's distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate.  Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

View original content to download multimedia:https://www.prnewswire.com/news-releases/csi-compressco-lp-announces-quarterly-distribution-301401577.html

SOURCE CSI Compressco LP

FAQ

What is the cash distribution amount declared by CSI Compressco for Q3 2021?

CSI Compressco declared a cash distribution of $0.01 per common unit for the quarter ended September 30, 2021.

When will CSI Compressco pay its Q3 2021 cash distribution?

The cash distribution will be paid on November 12, 2021.

What is the record date for CSI Compressco's Q3 2021 distribution?

The record date for the distribution is October 25, 2021.

What is the annualized cash distribution for CSI Compressco?

The annualized cash distribution for CSI Compressco is $0.04 per common unit.

How many compressor packages does CSI Compressco operate?

CSI Compressco operates a fleet of approximately 4,900 compressor packages.