• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Copano Energy Increases Quarterly Cash Distribution; Eighth Consecutive Increase Since IPO

Posted on: Thursday, 18 January 2007, 18:00 CST

HOUSTON, Jan. 18 /PRNewswire-FirstCall/ -- Copano Energy, L.L.C. announced today a cash distribution for the fourth quarter of 2006 of $0.80 per unit, or $3.20 per unit on an annualized basis, for all of its outstanding Common and Subordinated Units. This distribution is $0.05 above Copano Energy's distribution for the third quarter of 2006 and $0.40 above the minimum quarterly distribution of $0.40 per unit. The distribution applies to Common and Subordinated Units outstanding on the record date and will be payable on February 14, 2007, to holders of record of such units at the close of business on February 1, 2007.

"We are pleased to announce our fourth quarter distribution, which represents an increase of 7% above the third quarter 2006 distribution amount. The increased distribution level reflects Copano's reduced leverage, strong liquidity and expanded commodity risk management program," 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 natural gas gathering, intrastate pipeline and natural gas processing assets in Central and Eastern Oklahoma and in the Texas Gulf Coast region.

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 Vincent / avincent@drg-e.com DRG&E / 713-529-6600

Copano Energy, L.L.C.

CONTACT: Matt Assiff, SVP & CFO of Copano Energy, L.L.C.,+1-713-621-9547; or Jack Lascar, jlascar@drg-e.com , or Anne Vincent,avincent@drg-e.com , both of DRG&E, +1-713-529-6600, for Copano Energy,L.L.C.

Source: PRNewswire-FirstCall

More News in this Category