Azure Midstream Partners Announces Temporary Suspension Of Q4 2015 Distribution

Feb 01, 2016, 06:30 ET from Azure Midstream Partners, LP

DALLAS, Feb. 1, 2016 /PRNewswire/ -- Azure Midstream Partners, LP (NYSE: AZUR) ("Azure"), a leading midstream natural gas gathering and processing company based in Dallas, Texas, today announced that its Q4 2015 distribution has been temporarily suspended as it considers various alternatives for re-instating distributions.

Azure is pursuing a number of options to strengthen its balance sheet including a potential equity restructuring, capital raise and strategic alternatives that will provide excess liquidity with the intent to give visibility into stabilizing future distributions.

"We view this suspension as a means to reduce leverage while we work to implement a 'one and done' solution that is designed to withstand the possibility of a multi-year challenging energy environment," said I.J. "Chip" Berthelot II, Azure president and CEO. "In spite of the distribution suspension, we are expecting Q4 2015 to be one of its strongest quarters in the history of the partnership."

Azure will report financial results for fourth quarter 2015, before the U.S. markets open for trading on Thursday, March 10, 2016. Following the announcement, management will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss the operating and financial results. Investors may participate either by phone or live audio webcast.

By   Phone: 

 Dial 1-877-815-2357 in the United States or 1-330-968-0354 for international callers. The conference ID is 36349369. Participants are advised to dial in to the call at least 10 minutes prior to the call time. A replay will be available for 7 days by dialing 1-855-859-2056 or 1-404-537-3406 and using the conference ID 36349369.



By Webcast: 

Connect to the webcast via the "Events & Presentations" page of Azure's Investor Relations website http://investor.azuremidstreampartners.com/phoenix.zhtml?c=253822&p=irol-calendar. Please log in at least 10 minutes in advance to register and download any necessary software. A replay will be available shortly after the call for 90 days.

About Azure Midstream Partners, LP
Azure Midstream Partners, LP, headquartered in Dallas, Texas, is a fee-based, growth oriented limited partnership formed to develop, operate, and acquire midstream energy assets. The Partnership provides natural gas gathering, transportation, and processing services; as well as NGL transportation and crude oil logistics services. The Partnership's assets include 1,002 miles of gathering lines in the Shelby Trough sub-play of the Haynesville Shale and the horizontal Cotton Valley play located in east Texas and north Louisiana that are capable of gathering 1.9 Bcf/d. The Partnership also has four natural gas processing facilities with 310 MMcf/d of cumulative processing capacity located in the Panola, San Augustine and Tyler Counties of Texas, two NGL transportation pipelines that connect its Panola County and Tyler County processing facilities to third party NGL pipelines capable of transporting 21,000 barrels per day, and three crude oil transloading facilities containing six crude oil transloaders with a combined capacity of 31,200 Bbls/d. www.azuremidstreampartners.com

 

SOURCE Azure Midstream Partners, LP



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