The Board of Directors of NRGM GP, LLC, general partner of Inergy Midstream, L.P. (NYSE:NRGM), announced that it has declared a prorated cash distribution of $0.04 per limited partner unit for the quarter ended December 31, 2011. The $0.04 cash distribution per limited partner unit corresponds to an initial quarterly cash distribution of $0.37 per quarter ($1.48 annually) and represents the prorated distribution for the period of time from December 21, 2011, the closing of Inergy Midstream’s initial public offering, through December 31, 2011, the end of its first fiscal quarter. The distribution will be paid on February 14, 2012, to unitholders of record as of February 7, 2012. “Our business is performing as expected, and we are pleased to declare the first distribution to our new unitholders,” said John Sherman, President and CEO of Inergy Midstream. “Inergy Midstream’s business is fee based and comprised of high-quality assets located on top of the Marcellus Shale and upstream of the premium demand market of the Northeast.” Mr. Sherman continued, “From a position of financial strength and flexibility, we expect to deliver growth in cash distributions to unitholders through current organic growth projects, additional bolt-on opportunities, and other expansion initiatives.” Inergy Midstream plans to release its fiscal 2012 first quarter earnings on January 31, 2012. Inergy Midstream will host a live conference call and internet webcast on January 31, 2012, at 9:00 a.m. Central Time to discuss the results of operations for the quarter ended December 31, 2011, and its business outlook. The call-in number for the earnings call is 1-888-595-3894, and the conference name is Inergy Midstream. The live internet webcast and the replay can be accessed on Inergy Midstream’s website, www.inergylp.com. A digital recording of the call will be available for one week following the call by dialing 1-855-859-2056 and entering the pass code 46673488. About Inergy Midstream, L.P. Inergy Midstream, L.P., headquartered in Kansas City, Missouri, is a master limited partnership engaged in the development and operation of natural gas and NGL storage and transportation assets. Our assets are located in the Northeast region of the United States.
This press release contains forward-looking statements, which are statements that are not historical in nature such as the expectation that we expect to deliver growth in cash distributions to unitholders. Forward-looking statements are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or any underlying assumption proves incorrect, actual results may vary materially from those anticipated, estimated, or projected. Among the key factors that could cause actual results to differ materially from those referred to in the forward-looking statements are: weather conditions that vary significantly from historically normal conditions; the general level of petroleum product demand and the availability of propane supplies; the price of propane to the consumer compared to the price of alternative and competing fuels; the demand for high deliverability natural gas storage capacity in the Northeast; our ability to successfully implement our business plan; the outcome of rate decisions levied by the Federal Energy Regulatory Commission; our ability to generate available cash for distribution to unitholders; and the costs and effects of legal, regulatory, and administrative proceedings against us or which may be brought against us. These and other risks and assumptions are described in Inergy’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.Corporate news, unit prices, and additional information about Inergy Midstream, including reports from the United States Securities and Exchange Commission, are available on the Company’s website, www.inergylp.com. For more information, contact Mike Campbell in Inergy Midstream’s Investor Relations Department at 816-842-8181 or via e-mail at email@example.com. 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 of Inergy’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Inergy Midstream’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.