HOUSTON, Oct 19, 2010 (BUSINESS WIRE) -- Western Gas Partners, LP (NYSE: WES) announced today that the board of directors of its general partner has declared a cash distribution of $0.37 per unit for the third quarter of 2010, representing a 6-percent increase over the prior quarter and a 16-percent increase over the third quarter of 2009. The distribution is payable on Nov. 12, 2010 to unitholders of record at the close of business on Oct. 29, 2010.
"Today's quarterly distribution represents our sixth consecutive quarterly increase of $0.01 per unit," said Western Gas Partners' President and Chief Executive Officer Don Sinclair. "This quarter, we have also included an additional $0.01 per unit as a result of the overall performance of our portfolio year-to-date."
The partnership plans to report its third-quarter 2010 results after the market closes on Wednesday, Nov. 3, 2010. Management will host a conference call on Thursday, Nov. 4, 2010, at 11 a.m. CDT (12 p.m. EDT) to discuss quarterly results.
The full text of the release announcing the results will be available on the partnership's Web site athttp://www.westerngas.com. To access the live audio webcast of the conference call, please visit the investor relations section of the Web site. To participate via telephone, please dial 888.680.0869 and enter participant code 27724240. Please call in 10 minutes prior to the scheduled start time. A replay of the call will be available on the Web site for two weeks following the conference call.
Western Gas Partners, LP is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation (NYSE: APC) to own, operate, acquire and develop midstream energy assets. With midstream assets in East and West Texas, the Rocky Mountains and the Mid-Continent, the Partnership is engaged in the business of gathering, compressing, treating, processing and transporting natural gas for Anadarko and other producers and customers. For more information about Western Gas Partners, please visit http://www.westerngas.com.
Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Gas Partners, LP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Gas Partners LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
SOURCE: Western Gas Partners, LP
Western Gas Partners, LP
Chris Campbell, CFA, 832-636-6012
chris.campbell@westerngas.com
