HOUSTON, Feb. 09, 2017 (GLOBE NEWSWIRE) — Sanchez Production Partners LP (NYSE MKT:SPP) (“SPP” or the “Partnership”) announced today that the board of directors of its general partner has declared a quarterly cash distribution on its common units of $0.4310 per unit ($1.7240 per unit annualized). The distribution represents an increase of approximately 7.8% since the Partnership initiated distributions in November 2015 and an increase of approximately 6.2% over the Partnership’s February 2016 cash distribution.
The board of directors of the general partner has also declared a distribution to the holders of its Class B preferred units equal to 208,594 common units and a cash distribution of $0.2258 per Class B preferred unit.
The distributions are payable on Feb. 28, 2017 to holders of record on Feb. 20, 2017.
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.