UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 10, 2016
Sanchez Production Partners LP
(Exact name of registrant as specified in its charter)
Delaware |
001-33147 |
11-3742489 |
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(State or other jurisdiction of |
(Commission |
(IRS Employer |
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incorporation) |
File Number) |
Identification No.) |
1000 Main Street, Suite 3000 |
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Houston, TX |
77002 |
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(Address of principal executive offices) |
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Registrant’s telephone number, including area code: (713) 783-8000 |
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01Other Events.
On May 10, 2016, the board of directors of the general partner of Sanchez Production Partners LP (the “Partnership”) declared a first quarter 2016 cash distribution on its common units of $0.4121 per unit ($1.6484 per unit annualized) payable on May 31, 2016 to holders of record on May 20, 2016. The Partnership also declared a first quarter cash distribution of $0.4500 on its Class B preferred units, payable on May 31, 2016 to holders of record on May 20, 2016. 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.
(d) Exhibits.
Exhibit No. |
Exhibit |
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99.1 |
Press Release, dated May 10, 2016 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SANCHEZ PRODUCTION PARTNERS LP |
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By: Sanchez Production Partners GP LLC, |
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Date: May 10, 2016 |
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By: |
/s/ Charles C. Ward |
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Charles C. Ward |
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Chief Financial Officer |
Exhibit Index
Exhibit No. |
Exhibit |
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99.1 |
Press Release, dated May 10, 2016 |
News Release
Sanchez Production Partners Increases Distribution on Common Units; Announces Distributions on Class B Preferred Units
HOUSTON--(Marketwired)--May 10, 2016--Sanchez Production Partners LP (NYSE MKT: SPP) (“SPP” or the “Partnership”) has declared a first quarter 2016 cash distribution on its common units of $0.4121 per unit ($1.6484 per unit annualized), which represents a second consecutive 1.5% increase since the Partnership’s third quarter 2015 cash distribution on common units.
The Partnership has also declared a first quarter 2016 cash distribution of $0.45 per unit on its Class B preferred units.
The distributions are payable on May 31, 2016 to holders of record on May 20, 2016.
About the Partnership
Sanchez Production Partners LP (NYSE MKT: SPP) is a publicly-traded limited partnership focused on the acquisition, development, ownership and operation of midstream and other energy production assets. The Partnership owns an oil and natural gas gathering and processing system located in the Eagle Ford Shale in Dimmit and Webb Counties, Texas. The Partnership also currently owns producing reserves in the Eagle Ford Shale in South Texas, the Gulf Coast region of Texas and Louisiana, and across several basins in Oklahoma and Kansas. The
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Partnership announced in March 2015 that is exploring the possible divestiture of its assets and operations in Oklahoma and Kansas.
Additional Information
Additional information about SPP can be found in the Partnership’s documents on file with the U.S. Securities and Exchange Commission (www.sec.gov) and in the “Investor Presentation” available on the Partnership’s website.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of SPP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, SPP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Forward-Looking Statements
This press release contains statements that are considered forward–looking statements. All statements, other than statements of historical fact, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors, many of which are beyond our control. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the “Risk Factors” section in our U.S. Securities and Exchange Commission filings and elsewhere in those filings. The forward-looking statements speak only as of the date made, and other than as required by law, we do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
PARTNERSHIP CONTACT
Charles C. Ward
Chief Financial Officer
Sanchez Production Partners GP LLC
(877) 847-0009
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