Western Gas Partners, LP and Western Gas Equity Partners, LP Announce Fourth Quarter 2012 Distribution and Schedule Earnings Conference Call
HOUSTON--(BUSINESS WIRE)-- Western Gas Partners, LP (NYS: WES) announced today that the board of directors of its general partner has declared a cash distribution of $0.52 per unit for the fourth quarter of 2012, representing a 4-percent increase over the prior quarter and an 18-percent increase over the fourth quarter of 2011. The distribution is payable on February 12, 2013, to unitholders of record at the close of business on February 1, 2013.
Western Gas Equity Partners, LP (NYS: WGP) announced today that its board of directors has declared a prorated cash distribution of $0.03587 per unit for the fourth quarter of 2012. The distribution is the first declared by the partnership and corresponds to a quarterly distribution of $0.165 per unit, or $0.66 per unit on an annualized basis. The initial distribution was prorated for the 20-day period from the date of the closing of the partnership's initial public offering on December 12, 2012, through the end of the quarter, pursuant to the terms of the partnership agreement. The distribution is payable on February 21, 2013, to unitholders of record at the close of business on February 1, 2013.
The Partnerships plan to report their fourth-quarter 2012 results after the market closes on Wednesday, February 27, 2013. Management will host a conference call on Thursday, February 28, 2013, at 11 a.m. CST (12 p.m. EST) to discuss quarterly results.
The full text of the release announcing the results will be available on the Partnerships' web site at www.westerngas.com. To access the live audio webcast of the conference call, please visit the investor relations section of the web site. To participate via telephone, please dial 877.621.4819 and enter participant code 88744809. Please call in 10 minutes prior to the scheduled start time. A replay of the call will be available on the web site for two weeks following the conference call.
Western Gas Partners, LP is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation (NYS: APC) to own, operate, acquire and develop midstream energy assets. With midstream assets in East, West and South Texas, the Rocky Mountains and the Mid-Continent, the Partnership is engaged in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko and other producers and customers.
Western Gas Equity Partners, LP is a Delaware master limited partnership formed by Anadarko Petroleum Corporation to own WES's general partner and a substantial limited partner interest in WES, including all of WES's incentive distribution rights.
For more information please visit www.westerngas.com.
Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Western Gas Partners, LP and Western Gas Equity Partners, LP
Benjamin Fink, CFA
SVP, Chief Financial Officer and Treasurer
KEYWORDS: United States North America Texas
The article Western Gas Partners, LP and Western Gas Equity Partners, LP Announce Fourth Quarter 2012 Distribution and Schedule Earnings Conference Call originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.