Published:
Copano Energy Increases Quarterly Cash Distribution
HOUSTON, July 16 /PRNewswire-FirstCall/ -- Copano Energy, L.L.C.
(Nasdaq: CPNO) announced today a cash distribution for the second quarter of
2008 of $0.56 per unit, or $2.24 per unit on an annualized basis, for all of
its outstanding Common Units. This distribution is $0.03 above its
distribution of $0.53 per unit for the first quarter of 2008. The
distribution will be payable on August 14, 2008, to holders of record of
Common Units at the close of business on August 1, 2008.
"We are pleased to announce a 5.7% increase in Copano's quarterly
distribution to unitholders, which represents our fourteenth consecutive
quarterly distribution increase. The increased distribution level reflects
our continued favorable supply outlook and commodity price environment," said
John Eckel, Chairman and Chief Executive Officer of Copano Energy.
"Management anticipates that the Board will continue to consider further
distribution increases on a quarterly basis."
Houston-based Copano Energy, L.L.C. is a midstream natural gas company
with operations inOklahoma,Texas,Wyoming andLouisiana.
This press release may include "forward-looking statements" as defined by
the Securities and Exchange Commission. All statements, other than statements
of historical facts, included in this press release that address activities,
events or developments that the company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These statements
are based on certain assumptions made by the company based on management's
experience and perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate in the
circumstances. These statements include, but are not limited to statements
with respect to future distributions. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control
of the company, which may cause the company's actual results to differ
materially from those implied or expressed by the forward-looking statements.
These risks include an inability to obtain new sources of natural gas
supplies, the loss of key producers that supply natural gas to the company,
key customers reducing the volume of natural gas and natural gas liquids they
purchase from us, a decline in the price and market demand for natural gas and
natural gas liquids, the incurrence of significant costs and liabilities in
the future resulting from our failure to comply with new or existing
environmental regulations or an accidental release of hazardous substances
into the environment and other factors detailed in the company's Securities
and Exchange Commission filings.
Contacts: Matt Assiff, SVP & CFO
Copano Energy, L.L.C.
713-621-9547
Jack Lascar / jlascar@drg-e.com
Anne Pearson / apearson@drg-e.com
DRG&E / 713-529-6600
SOURCE Copano Energy, L.L.C.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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