OKLAHOMA CITY--(BUSINESS WIRE)--Jan. 26, 2012--
Chesapeake Midstream Partners, L.P. (NYSE:CHKM) today announced that the
Board of Directors of its general partner declared a cash distribution
of $0.39 per limited partner unit for the 2011 fourth quarter. The
fourth quarter distribution represents an increase of $0.0525, or 15.6%,
compared to the 2010 fourth quarter and represents an increase of
$0.015, or 4.0%, compared to the 2011 third quarter.
The distribution will be payable on February 14, 2012 to all unitholders
of record at the close of business on February 7, 2012, together with
the distribution to the general partner.
J. Mike Stice, Chesapeake Midstream Partners Chief Executive Officer,
commented, “I am very pleased to announce the largest distribution
increase since the formation of the Partnership. Our contractual
structure allows us to deliver this increase with confidence, even in a
very difficult gas price environment. We are positioned to deliver
steady, growing cash flows for investors, and we look forward to
continuing to demonstrate this capability in 2012.”
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Please note that 100 percent of the
Partnership’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, the Partnership’s distributions to foreign
investors are subject to federal income tax withholding at the highest
applicable effective tax rate.
Chesapeake Midstream Partners, L.P. (NYSE:CHKM) is the industry’s
largest gathering and processing master limited partnership as measured
by throughput volume and owns, operates, develops and acquires natural
gas gathering systems and other midstream energy assets. Headquartered
in Oklahoma City, the Partnership's operations are focused on the
Barnett Shale, Haynesville Shale, Marcellus Shale and Mid-Continent
regions of the U.S. The Partnership’s common units are
listed on the New York Stock Exchange under the symbol CHKM. Further
information is available at www.chkm.com
where the Partnership routinely posts announcements, updates, events,
investor information and presentations and all recent press releases.
This press release includes forward-looking statements.
Forward-looking statements give our current expectations or forecasts of
future events. They include but are not limited to future
distributions and other statements concerning our business strategy and
plans and objectives for future operations. We caution you not to place
undue reliance on our forward-looking statements, which speak only as of
the date of this release, and we undertake no obligations to update this
information. Although we believe the expectations and forecasts
reflected in these and other forward-looking statements are reasonable,
we can give no assurance they will prove to be correct. They can
be affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Factors that could cause actual results to differ
materially from expected results are described under “Risk Factors” in
our 2010 Annual Report on Form 10-K.
Source: Chesapeake Midstream Partners, L.P.
Chesapeake Midstream Partners, L.P.
Shiels, CFO, 405-935-6224
Michael Kehs, 405-935-2560