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Sanchez Production Partners Ups Catarina Throughput in 1Q
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Sanchez Production Partners LP reported first quarter 2016 results.
Highlights from the report include: A cash distribution to common unitholders of $0.4121 per common unit ($1.6484 per unit annualized) related to first quarter 2016 activity, which represents the second consecutive increase of 1.5% over the Partnership's initial distribution in the third quarter 2015; Distribution coverage of 2.65x excluding the Mid-Continent assets, which have been targeted for divestiture, and 1.95x including the Mid-Continent assets (in each case after the effect of the March 31, 2016 conversion of the Class A preferred units to common units); Total revenue of $23.2 million and Adjusted EBITDA of $13.5 million during the first quarter 2016; Throughput volumes for the Western Catarina Midstream…- ✓ Full news archive — U.S., Canada & international coverage
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