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Sanchez PP Talks Unit Repurchase Plans in 3Q; 2016 Outlook
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Sanchez Production Partners LP reported third quarter 2015 results, announced plans to implement a unit repurchase program, and provided a base case forecast for 2016.
Highlights from the report include: An initial distribution declared on the Partnership's common units of $0.40 per unit ($1.60 per unit annualized) Implementation of a unit repurchase program of up to $10 million beginning in the fourth quarter 2015 A base case 2016 forecast that shows the Partnership's Adjusted EBITDA ranging from $54 million to $60 million, with common unit distribution coverage of 2.2x at the midpoint of this range Total revenue of $13.3 million in the third quarter 2015, which includes $7.9 million of sales revenue, approximately 62% of which was from oil and liquids sales and 38% of which was…- ✓ Full news archive — U.S., Canada & international coverage
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