PetroLogistics LP Announces Temporary Outage at its Production Facility
HOUSTON, June 3, 2013 /PRNewswire/ -- PetroLogistics LP (NYSE: PDH) (the "Partnership") announced today that it will temporarily bring down its propane dehydrogenation facility commencing on Saturday, June 8, 2013, for repairs pertaining to two of the eight reactors at the plant. While the facility is down, we will also complete certain other maintenance items. The Partnership believes that all necessary work can be completed in approximately 2 weeks and at a cost of less than $5 million. The Partnership will declare a force majeure event. Provided the plant resumes operations by June 20, 2013, we anticipate total second quarter sales of approximately 260 million pounds of propylene.
About PetroLogistics LP
PetroLogistics LP is a master limited partnership which owns and operates the only U.S. propane dehydrogenation facility producing propylene from propane. The Partnership's headquarters and operations are located in Houston, Texas.
Certain statements and information in this release may constitute "forward-looking statements." The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with Securities and Exchange Commission, including our Annual Report on Form 10-K, filed on March 8, 2013 and Current Reports on Form 8-K.
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SOURCE PetroLogistics LP