Shell Midstream Partners, L.P. Declares 7.3% Increase in Quarterly Distribution
Houston, Jan. 20, 2016 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the Board of Directors of its general partner declared a cash distribution of $0.2200 per limited partner unit for the fourth quarter of 2015. This represents an increase of 7.3 percent over the previous quarter distribution of $0.2050 per unit and a 35.4 percent increase over the minimum quarterly distribution. The distribution will be paid February 11, 2016 to unitholders of record as of February 1, 2016.
This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Shell Midstream Partners, L.P.’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Shell Midstream Partners, L.P.’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Shell Midstream Partners, L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
# # #
About Shell Midstream Partners, L.P.
Shell Midstream Partners is a fee-based, growth-oriented master limited partnership formed by Royal Dutch Shell to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partners' assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers.
Shell U.S. Media Relations: +1 713 241 4544
Shell Investor Relations North America: +1 832 337 2034
(January 20, 2016 - 8:15 AM EST)
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
Oil & Gas 360® c/o EnerCom, Inc.
800 18th Street
Denver, CO 80202
Advertise on OAG360
OAG360 has multiple advertising opportunities. Reach your investors/buyers by advertising on the website, eMail campaigns, webcasts and videos.