HOUSTON, Oct. 20, 2011 /PRNewswire/ -- Oiltanking Partners, L.P. (NYSE: OILT), announced today the declaration of its first cash distribution for the third quarter of 2011 of $0.2678 per unit. This prorated amount corresponds to its minimum quarterly cash distribution of $0.3375 per unit, or $1.35 on an annualized basis. The proration period began immediately after the closing date of Oiltanking Partners, L.P.'s initial public offering, July 19, 2011, and continued through September 30, 2011. The distribution will be paid on November 14, 2011 to all unitholders of record on November 3, 2011.
Oiltanking Partners is a master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. We provide our services to a variety of customers, including major integrated oil companies, distributors, marketers and chemical and petrochemical companies. Our assets are located along the upper Gulf Coast of the United States. For more information, visit www.oiltankingpartners.com.
This press release contains forward-looking statements. These forward-looking statements reflect Oiltanking Partners' current views with respect to future events, based on what it believes are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties as described in Oiltanking Partners' filings with the Securities and Exchange commission, available at the SEC's website at www.sec.gov. By issuing forward looking statements based on current expectations, opinions, views or beliefs, Oiltanking Partners has no obligation and, except as required by law, is not undertaking any obligation, to update or revise these statements or provide any other information relating to such statements.Contacts: Ken Owen, Chief Financial Officer firstname.lastname@example.org Jack Lascar / email@example.com Lisa Elliott / firstname.lastname@example.org DRG&L / 713-529-6600 SOURCE Oiltanking Partners, L.P.