HOUSTON–(BUSINESS WIRE)–July 14, 2008–Western Gas Partners, LP (NYSE:WES) announced today that the board of directors of its general partner has declared a prorated quarterly cash distribution for the second quarter of 2008.
The distribution is the first declared by the partnership and corresponds to a quarterly distribution of $0.30 per unit, or $1.20 per unit on an annualized basis. The initial distribution of $0.1582 per unit was prorated for the 48-day period from the date of the closing of the partnership’s initial public offering on May 14, 2008 through the end of the quarter, pursuant to the terms of the partnership agreement. The distribution will be payable on August 14, 2008 to all unitholders of record at the close of business on August 1, 2008.
Western Gas Partners, LP is a growth-oriented Delaware limited partnership recently formed by Anadarko Petroleum Corporation (NYSE:APC) to own, operate, acquire and develop midstream energy assets. With midstream assets in East Texas, the Rocky Mountains, the Mid-Continent and West Texas, the partnership is engaged in the business of gathering, compressing, treating and transporting natural gas for Anadarko and other producers and customers. For more information about Western Gas Partners, please visit www.westerngas.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Western Gas Partners believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. See “Risk Factors” in the Form S-1 registration statement filed with the Securities and Exchange Commission and other public filings and press releases by Western Gas Partners. Western Gas Partners undertakes no obligation to publicly update or revise any forward-looking statements.
CONTACT: Western Gas Partners, LP
John Christiansen, 832-636-8736
Chris Campbell, CFA, 832-636-6012
SOURCE: Western Gas Partners, LP