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HOUSTON, April 25, 2014 (GLOBE NEWSWIRE) -- Memorial Production Partners LP (Nasdaq:MEMP) announced today that the board of directors of its general partner approved a cash distribution of $0.55 per unit for the first quarter of 2014. This distribution represents an annualized amount of $2.20 per unit and will be paid on May 13, 2014 to unitholders of record as of the close of business on May 6, 2014.
MEMP also announced today that it will report first quarter 2014 financial and operating results before the market opens for trading on May 7, 2014. Following the announcement, management will host a first quarter 2014 earnings conference call at 10 a.m. CT. Interested parties are invited to participate on the call by dialing (866) 501-5542 (Conference ID: 30588387) at least 15 minutes prior to the start of the call or via the internet at
www.memorialpp.com. A replay of the call will be available on MEMP's website or by phone at (855) 859-2056 (Conference ID: 30588387) for a seven-day period following the call.
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100% of MEMP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of MEMP's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not MEMP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
Memorial Production Partners LP is a publicly traded partnership engaged in the acquisition, production and development of oil and natural gas properties in the United States. MEMP's properties consist of mature, legacy oil and natural gas fields. MEMP is headquartered in Houston, Texas. For more information, visit
This press release may include "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MEMP expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as "will," "expect," "plan," "project," "intend," "estimate," "believe," "target," "potential," the negative of such terms or other comparable terminology often identify forward-looking statements. These statements are based on certain assumptions made by MEMP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of MEMP, which may cause MEMP's actual results to differ materially from those implied or expressed by the forward-looking statements. Please read MEMP's filings with the Securities and Exchange Commission ("SEC"), which are available on MEMP's Investor Relations website at
http://investor.memorialpp.com/sec.cfm or on the SEC's website at
http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. MEMP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.
CONTACT: Memorial Production Partners LP
Ronnetta Eaton - Manager, Investor Relations