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Sanchez Production Partners Adds to Board Post-Eagle Ford Deal
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Sanchez Production Partners LP announced that it has closed its previously announced acquisition of pipeline, gathering and compression assets located in Western Catarina, in the Eagle Ford Shale in South Texas, from Sanchez Energy Corporation.
As a result of the Western Catarina Midstream Transaction, the Partnership's management intends to recommend that the board of directors of its general partner approve a plan to begin distributions at an initial annualized rate of $1.60 per unit. Subject to approval of the plan at the board's next regularly scheduled meeting, the Partnership anticipates that a distribution of $0.40 per unit will be paid in November 2015 for the third quarter 2015. The Partnership expects to provide further distribution guidance and updates on plans for growth along…
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