THE
WOODLANDS, Texas, April 17,
2023 /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 March 31,
2023 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 May 15, 2023 to all common
unitholders of record as of the close of business on April 30, 2023.
CSI Compressco expects to release its first quarter 2023 results
before the opening of the market on Thursday, May 4, 2023. Following the release, CSI
Compressco will host a conference call at 10:30 a.m. Eastern Time to discuss the results.
CSI Compressco invites you to listen to the conference call by
calling the toll-free number 1-866-374-8397. The conference call
will also be available by live audio webcast and may be accessed
through CSI Compressco's website at www.csicompressco.com. The news
release will be available on CSI Compressco's website prior to the
conference call. An audio replay of the conference call will
be available at 1-877-344-7529, conference number 10178224, replay
code 4997718, for one week following the conference call and the
archived webcast will be available through CSI Compressco's website
for thirty days following the conference call.
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. Concurrent with this
announcement we are providing qualified notice to brokers and
nominees that hold CSI Compressco LP units on behalf of non-US
investors as provided for under Treasury Regulation Section
1.1446-4(b)(4) and (d) and Treasury Regulation Section
1.1446(f)-4(c)(2)(iii). Please note that one hundred percent (100%)
of CSI Compressco LP's distributions to foreign investors are
attributable to income that is effectively connected with a
United States trade or business.
Accordingly, all of CSI Compressco LP's distributions to foreign
investors are subject to federal tax withholding at the highest
applicable effective tax rate. Nominees, and not CSI Compressco LP,
are treated as withholding agents responsible for withholding
distributions received by them on behalf of foreign investors. For
purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii),
brokers and nominees should treat one hundred percent (100%) of the
distributions as being in excess of cumulative net income for
purposes of determining the amount to withhold.
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SOURCE CSI Compressco LP