HOUSTON, Jan. 18 /PRNewswire-FirstCall/ -- Copano Energy, L.L.C. announced today a cash distribution for the fourth quarter of 2005 of $0.55 per unit, or $2.20 per unit on an annualized basis, for all of its outstanding common and subordinated units. This distribution is $0.05 above Copano Energy's distribution for the third quarter of 2005 and $0.15 above the minimum quarterly distribution of $0.40 per unit. The distribution applies to common and subordinated units outstanding on the record date and will be payable on February 14, 2006, to holders of record of such units at the close of business on February 1, 2006.
"We are pleased to announce our fourth quarter distribution, which represents an increase of 10% above the third quarter distribution amount," said John Eckel, Chairman and Chief Executive Officer of Copano Energy. "The increased distribution level reflects the continued strong performance of each of our operating segments and reflects a high coverage ratio comparable to prior quarters. Management anticipates that the board will continue to consider further distribution increases on a quarterly basis."
Houston-based Copano Energy, L.L.C. is a midstream natural gas company with natural gas gathering, intrastate pipeline and natural gas processing assets in the Texas Gulf Coast region and in central and eastern Oklahoma.
This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. 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 Copano's Securities and Exchange Commission filings.
Contacts: Matt Assiff, SVP & CFO
Copano Energy, L.L.C.
713-621-9547
Ken Dennard /
FCMN Contact: ksdennard@drg-e.com
