New Source Energy Partners Announces First Distribution
OKLAHOMA CITY--(BUSINESS WIRE)-- New Source Energy Partners L.P., a Delaware limited partnership (NYSE: NSLP) (the Partnership), announced today that the Board of Directors has declared a prorated cash distribution for the first quarter of 2013 of $0.27417 per unit. This distribution is the first declared by the partnership and corresponds to the minimum quarterly distribution of $0.525 per unit, or $2.10 on an annualized basis, pro-rated from the February 13, 2013 closing of the Partnerships initial public offering through March 31, 2013. The distribution will be paid on May 15, 2013 to all unitholders of record on May 1, 2013.
About New Source Energy Partners L.P.
New Source Energy Partners L.P. is an independent energy company focusing on delivery through streamlined operations and vertically integrated infrastructure. The Partnership is actively engaged in the development and production of our onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma. For more information on the Partnership please visit www.newsource.com.
This news release contains forward-looking statements which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially from the results and other statements contained in this press release. For a full discussion of these risks and uncertainties, please refer to the Risk Factors section of the Partnerships Annual Report on Form 10-K for the year ended December 31, 2012 and the information included in the Partnerships quarterly and current reports and other public filings. These forward-looking statements are based on and include the Partnerships expectations as of the date hereof. Subsequent events and market developments could cause the Partnerships expectations to change. While the Partnership may elect to update these forward-looking statements at some point in the future, the Partnership specifically disclaims any obligation to do so, even if new information becomes available, except as may be required by applicable law.
The SEC (SCUR) permits oil and gas companies, in their filings with the SEC, to disclose only "reserves" as defined by SEC rules. Estimates of reserves in this press release are based on various assumptions, including assumptions related to oil and natural gas prices, drilling and operating expenses, capital expenditures, taxes and availability of funds.
New Source Energy Partners L.P. - Investor & Media Contact
Nick Hodapp, Director of Investor Relations, (405) 272-3028
Source: New Source Energy Partners L.P.Copyright Business Wire 2013