Emerge Energy Services LP Provides Update on Cash Distributions and Announces Date for Earnings Release
Southlake, Texas - October 22, 2015 - Emerge Energy Services LP ("Emerge Energy") today announced that, in accordance with its cash distribution policy as determined by the board of directors of its general partner, it will not make a cash distribution on its common units in respect of the three months ended September 30, 2015. Emerge Energy did not generate available cash to distribute for the three months ended September 30, 2015 due to the challenging oil and natural gas frac sand market and the volatility in wholesale fuel prices during this period. The board of directors of Emerge Energy's general partner will evaluate the amount of Emerge Energy's cash distributions to unitholders in respect of future quarters in light of Emerge Energy's cash distribution policy and then-prevailing market conditions.
Emerge Energy today also announced it will release its third quarter results before the financial markets open on Wednesday, November 4, 2015. A conference call to discuss the third quarter 2015 financial and operating results will be held on Wednesday, November 4, 2015 at 1:00 p.m. CST. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing (855) 850-4275 or (720) 634-2898 and entering pass code 66234955. An audio webcast of the call will be available at www.emergelp.com within the Investor Relations portion of the website under the Webcasts & Presentations section. A replay will be available by audio webcast and teleconference from 4:00 p.m. CST on November 4 through 10:59 p.m. CST on November 11, 2015. The replay teleconference will be available by dialing (855) 859-2056 or (404) 537-3406 and the reservation number 66234955.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of Emerge Energy's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Emerge Energy's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
About Emerge Energy Services LP
Emerge Energy Services LP (NYSE: EMES) is a growth-oriented limited partnership engaged in the business of mining, producing, and distributing silica sand, a key input for the hydraulic fracturing of oil and natural gas wells. Emerge Energy also processes transmix, distributes refined motor fuels, operates bulk motor fuel storage terminals, and provides complementary fuel services. Emerge Energy operates its sand segment through its subsidiary Superior Silica Sands LLC and its fuel segment through its subsidiaries Direct Fuels LLC and Allied Energy Company LLC.
The presentation contains certain statements that are "forward-looking statements." These statements can be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," or "estimate." These forward-looking statements involve risks and uncertainties, and there can be no assurance that actual results will not differ materially from those expected by management of Emerge Energy. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Emerge Energy's Annual Report on Form 10-K filed with the SEC. The risk factors and other factors noted in the Annual Report could cause actual results to differ materially from those contained in any forward-looking statement. Except as required by law, Emerge Energy does not undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur after the date hereof.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Emerge Energy Services LP via Globenewswire
Source: Thomson Reuters ONE
(October 22, 2015 - 4:45 PM EDT)
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