Tallgrass Energy Partners, LP (NYSE: TEP) announced today that the board
of directors of its general partner declared a quarterly cash
distribution to partners of $0.52 per common unit for the first quarter
of 2015, or $2.08 on an annualized basis. This represents a 60 percent
increase from the first quarter of 2014 and a 7.2 percent sequential
increase from the fourth quarter 2014 distribution of $0.485. It is
TEP’s seventh consecutive increase since its IPO in May 2013.
The increase is consistent with TEP’s plan to recommend to the Board of
Directors of its general partner increases in its first and second
quarter 2015 distributions that will aggregate to at least 15 percent
over the fourth quarter 2014 distribution of $0.485. TEP acquired an
additional 33.3 percent interest in the Tallgrass Pony Express Pipeline
effective March 1, 2015.
The quarterly distribution will be paid on Thursday, May 14, 2015, to
unitholders of record as of the close of business on Friday, April 24,
2015.
About Tallgrass Energy Partners, LP
Tallgrass Energy Partners, LP (NYSE: TEP) is a publicly traded,
growth-oriented limited partnership formed to own, operate, acquire and
develop midstream energy assets in North America. We currently provide
natural gas transportation and storage services for customers in the
Rocky Mountain and Midwest regions of the United States through our
Tallgrass Interstate Gas Transmission and Trailblazer Pipeline systems.
We provide crude oil transportation to customers in Wyoming and the
surrounding region, servicing the Bakken oil production area of North
Dakota and eastern Montana through our membership interest in Tallgrass
Pony Express Pipeline. We also provide services for customers in Wyoming
through Tallgrass Midstream at our Casper and Douglas natural gas
processing and our West Frenchie Draw natural gas treating facilities
and we provide water business services to customers in Colorado and
Texas through BNN Water Solutions. Our operations are strategically
located in and provide services to certain key United States hydrocarbon
basins, including the Denver-Julesburg, Powder River, Wind River,
Permian and Hugoton-Anadarko Basins and the Niobrara, Mississippi Lime,
Eagle Ford and Bakken shale formations.
To learn more, please visit our website at www.tallgrassenergy.com.
Copyright Business Wire 2015