Business News

MarkWest Energy Partners Increases Quarterly Cash Distribution by 19 Percent Compared to Prior Year Quarter

2008-07-24 16:38:00

MarkWest Energy Partners Increases Quarterly Cash Distribution by 19 Percent Compared to Prior Year Quarter

DENVER–(EMWNews)–MarkWest Energy Partners, L.P. (NYSE: MWE) today announced that the

Board of Directors of the General Partner of MarkWest Energy Partners,

L.P., declared a cash distribution of $0.63 per common unit for the

second quarter of 2008, for an implied annual rate of $2.52 per common

unit. The second quarter 2008 distribution represents an increase of

$0.03 per common unit compared to the first quarter 2008 distribution

and an increase of $0.10 per common unit, or 19 percent, compared to the

second quarter 2007 distribution.

The second quarter 2008 distribution is payable August 15, 2008, to

unitholders of record on August 4, 2008. The ex-dividend date is July

31, 2008.

The second quarter distribution increase

reflects continued strong performance of our assets, a solid underlying

capital structure, and confidence in our long-term growth

opportunities,” commented Frank Semple, President and Chief Executive

Officer. As a result of the merger with

MarkWest Hydrocarbon in early 2008, all of our distributable cash flow

is available for distribution to our unitholders and the elimination of

a standalone parent company provides complete transparency to our

balance sheet and our operations. We are very excited about our 2008

performance and future growth opportunities, and we look forward to our

second quarter earnings call. During that call we will provide increased

guidance for full year 2008 distributable cash flow, an expanded growth

capital plan, and a continued strong coverage ratio.”

MarkWest Energy Partners, L.P. (NYSE: MWE) is a growth-oriented

master limited partnership engaged in the gathering, transportation, and

processing of natural gas; the transportation, fractionation, marketing,

and storage of natural gas liquids; and the gathering and transportation

of crude oil. MarkWest has extensive natural gas gathering, processing,

and transmission operations in the southwestern and Gulf Coast regions

of the United States and is the largest natural gas processor in the

Appalachian region. The primary business strategy of MarkWest is to

provide outstanding customer service at competitive rates and to expand

its assets and cash flow available for distribution through a balanced

combination of organic growth projects and selective acquisitions.

This press release includes forward-looking

statements. All statements other than

statements of historical facts included or incorporated herein may

constitute forward-looking statements. Actual results could vary

significantly from those expressed or implied in such statements and are

subject to a number of risks and uncertainties. Although we believe that

the expectations reflected in the forward-looking statements are

reasonable, we can give no assurance that such expectations will prove

to be correct. The forward-looking statements involve risks and

uncertainties that affect our operations, financial performance, and

other factors as discussed in our filings with the Securities and

Exchange Commission. Among the factors that could cause results to

differ materially are those risks discussed in our Annual Report on Form

10-K, as amended, for the year ended December 31, 2007, as filed with

the SEC. You are urged to carefully review and consider the cautionary

statements and other disclosures made in those filings, specifically

those under the heading Risk Factors.

We do not undertake any duty to update any forward-looking statement

except as required by law.

MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482

Nancy Buese, 866-858-0482

Andy Schroeder, 866-858-0482

Finance & Treasurer
Fax: 303-925-9308
[email protected]

free cash grants, free grant money, free money, cash grants, scholarships, business grants, foundation grants, government grants, debt grants, consolidation, college tuition, financial aid, medical grants, personal grants, medical bills, unsecured loans, no interest loans, financing, loans, capital, non profit organizations

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website now offers Organic Lead Generation & Traffic Solutions

Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

Related Articles

Back to top button