HOUSTON, Oct. 31, 2016 (GLOBE NEWSWIRE) — Sanchez Production Partners LP (NYSE MKT:SPP) (“SPP” or the “Partnership”) has declared a third quarter 2016 cash distribution on its common units of $0.4246 per unit ($1.6984 per unit annualized), which represents the fourth consecutive 1.5 percent increase since the Partnership’s third quarter 2015 cash distribution on common units for a 6.1 percent annualized rate of increase.
The Partnership has also declared a third quarter 2016 cash distribution of $0.45 per unit on its Class B preferred units.
The distributions are payable on Nov. 30, 2016 to holders of record on Nov. 10, 2016.
ABOUT THE PARTNERSHIP
Sanchez Production Partners LP (NYSE MKT:SPP) is a publicly-traded limited partnership focused on the acquisition, development, ownership and operation of midstream and production assets in North America. The Partnership owns an oil and natural gas gathering and processing system located in the Eagle Ford Shale in Dimmit, Webb and La Salle Counties, Texas. The Partnership also currently owns producing reserves in the Eagle Ford Shale in South Texas, the Gulf Coast region of Texas and Louisiana, and across several basins in Oklahoma and Kansas. The Partnership previously announced and continues to explore the possible divestiture of its remaining assets and operations in Oklahoma and Kansas.