Sanchez Production Partners LP (NYSEMKT:SPP) Files An 8-K Other EventsItem 8.01Other Events.
On May 10, 2017, the board of directors of the general partner of Sanchez Production Partners LP (the “Partnership”) declared a first quarter 2017 cash distribution on its common units of $0.4375 per unit ($1.75 per unit annualized) payable on May 31, 2017 to holders of record on May 22, 2017. The Partnership also declared a first quarter distribution on the Class B preferred units and elected to pay the distribution in part cash and, with the consent of the Class B preferred unitholder, in part common units (in lieu of additional Class B preferred units). Accordingly, the Partnership declared a cash distribution of $0.2258 per Class B preferred unit and an aggregate distribution of 184,697 common units, each payable on May 31, 2017 to holders of record on May 22, 2017. A copy of the press release announcing the distributions is filed as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
99.1Press Release, dated May 10, 2017
About Sanchez Production Partners LP (NYSEMKT:SPP)
Sanchez Production Partners LP, formerly Sanchez Production Partners LLC, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system. The Exploration and Production segment explores for and produces crude oil and natural gas. The Midstream segment operates the gathering, processing and transportation of crude oil, natural gas liquids (NGLs) and natural gas. The exploration and production business includes oil and natural gas reserves located in the Eagle Ford Shale in South Texas and in other areas of Texas and Louisiana, as well as properties in the Mid-Continent region. The Company’s total estimated proved reserves total over 11.6 million barrels of oil equivalent (MMBoe). It owns approximately 1,992 net producing wells. Sanchez Production Partners LP (NYSEMKT:SPP) Recent Trading Information
Sanchez Production Partners LP (NYSEMKT:SPP) closed its last trading session down -0.25 at 14.25 with 45,947 shares trading hands.
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