CSI Compressco LP Announces Quarterly Distribution

Rhea-AI Summary

CSI Compressco LP (NASDAQ: CCLP) has announced a cash distribution of $0.01 per outstanding common unit for the quarter ended December 31, 2021. This translates to an annualized rate of $0.04 per unit. The distribution will be paid on February 14, 2022 to unitholders of record as of January 31, 2022. CSI Compressco specializes in compression services and equipment for natural gas and oil, boasting a fleet of around 4,800 compressor packages and a diverse range of services including well monitoring and maintenance.

Positive

• Declared cash distribution of $0.01 per common unit for Q4 2021.
• Annualized distribution rate is $0.04 per common unit.
• Strong infrastructure with approximately 4,800 compressor packages.

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• None.

THE WOODLANDS, Texas, Jan. 21, 2022 /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 December 31, 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 February 14, 2022 to all common unitholders of record as of the close of business on January 31, 2022.

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 4,800 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, Egypt, and Chile. 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.

For further information, please contact: Jon Byers, CFO, CSI Compressco LP, The Woodlands, Texas, Phone: 281.364.2279, www.csicompressco.com

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SOURCE CSI Compressco LP

FAQ

What is the cash distribution for CCLP for Q4 2021?

The cash distribution for CCLP for Q4 2021 is $0.01 per outstanding common unit.

When will the CCLP cash distribution be paid?

The CCLP cash distribution will be paid on February 14, 2022.

What is the annualized cash distribution rate for CCLP?

The annualized cash distribution rate for CCLP is $0.04 per common unit.

Who is eligible for the CCLP cash distribution?

Common unitholders of record as of January 31, 2022, are eligible for the CCLP cash distribution.

What services does CSI Compressco provide?

CSI Compressco provides compression services and equipment for natural gas and oil production, as well as gas treating services.