HOUSTON, Jan. 13 /PRNewswire-FirstCall/ -- Copano Energy, L.L.C. (Nasdaq: CPNO) announced today a cash distribution for the fourth quarter of 2009 of $0.575 per unit, or $2.30 per unit on an annualized basis, for all of its outstanding common units. This distribution is equal to Copano's distribution for the third quarter of 2009 and will be payable on February 11, 2010, to holders of record of common units at the close of business on February 1, 2010.
"Copano has elected to maintain its $0.575 quarterly distribution to unitholders. We are encouraged by the outlook for commodity prices, as well as opportunities for new volume growth in 2010," said Bruce Northcutt, President and Chief Executive Officer of Copano Energy.
This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of Copano's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Copano's distributions to foreign investors are subject to federal income fax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Copano, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Houston-based Copano Energy, L.L.C. is a midstream natural gas company with operations in Oklahoma, Texas, Wyoming and Louisiana. Its assets include approximately 6,200 miles of active natural gas gathering and transmission pipelines, 200 miles of NGL pipelines and seven natural gas processing plants, with more than one Bcf per day of combined processing capacity. For more information please visit www.copanoenergy.com.
This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the company based on management's experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These statements include, but are not limited to statements with respect to future distributions. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company, which may cause the company's actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include an inability to obtain new sources of natural gas supplies, the loss of key producers that supply natural gas to the company, key customers reducing the volume of natural gas and natural gas liquids they purchase from us, a decline in the price and market demand for natural gas and natural gas liquids, the incurrence of significant costs and liabilities in the future resulting from our failure to comply with new or existing environmental regulations or an accidental release of hazardous substances into the environment and other factors detailed in the company's Securities and Exchange Commission filings.
SOURCE Copano Energy, L.L.C.