Sanchez Production Partners: Conversion from Limited Liability Company to Limited Partnership Complete
07 March 2015 - 8:15AM
Business Wire
Pursuant to the Plan of Conversion filed with the Securities and
Exchange Commission (SEC), and upon obtaining approval from all
classes of unitholders taken at a special meeting of unitholders
held on March 6, 2015, Sanchez Production Partners (NYSE MKT: SPP)
earlier today completed a statutory conversion from a limited
liability company to a limited partnership named “Sanchez
Production Partners LP.” In conjunction with the conversion, the
following changes became effective immediately after market hours
on Friday, March 6, 2015:
Previously Currently Name: Sanchez Production
Partners LLC Sanchez Production Partners LP Website:
www.sanchezpp.com
www.sanchezpp.com
Ticker: NYSE MKT: SPP NYSE MKT: SPP CUSIP: 79971A 106 79971C 102
ISIN: US79971A1060 US79971C1027
“Today’s conversion, which had the overwhelming support of our
unitholders, caps a process we undertook last summer to further
integrate our operations with Sanchez Oil & Gas Corporation
(“SOG”), a committed sponsor with a robust operational platform and
extensive business development capability,” said Stephen R.
Brunner, President and Chief Executive Officer of Sanchez
Production Partners. “With the conversion now complete, we believe
we’re better positioned to leverage SOG’s operational platform and
service relationships to achieve production growth and efficiencies
that benefit our unitholders.”
Sanchez Production Partners LP will trade under the ticker
symbol “SPP” effective at the open of trading on the NYSE MKT on
Monday, March 9, 2015.
About the Company
Sanchez Production Partners LP (NYSE MKT: SPP) is a
publicly-traded limited partnership focused on the acquisition,
development and production of oil and natural gas properties and
other integrated assets. The partnership’s proved reserves are
currently located in the Cherokee Basin in Oklahoma and Kansas, the
Woodford Shale in the Arkoma Basin in Oklahoma, the Central Kansas
Uplift in Kansas, and along the Gulf Coast in Texas and Louisiana.
For more information, please visit the partnership’s website
(www.sanchezpp.com).
Forward-Looking Statements
We make statements in this news release that are considered
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934. These
forward-looking statements are largely based on our expectations,
which reflect estimates and assumptions made by the management of
our general partner. These estimates and assumptions reflect our
best judgment based on currently known market conditions and other
factors. Although we believe such estimates and assumptions to be
reasonable, they are inherently uncertain and involve a number of
risks and uncertainties that are beyond our control. In addition,
management's assumptions about future events may prove to be
inaccurate. Management cautions all readers that the
forward-looking statements contained in this news release are not
guarantees of future performance, and we cannot assure you that
such statements will be realized or the forward-looking events and
circumstances will occur. 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 SEC filings
and elsewhere in those filings. All forward-looking statements
speak only as of the date of this news release. We do not intend to
publicly update or revise any forward-looking statements as a
result of new information, future events or otherwise. These
cautionary statements qualify all forward-looking statements
attributable to us or persons acting on our behalf.
Sanchez Production Partners LPInvestor
Contact:Charles C. Ward, (877) 847-0009General
Inquiries: (877) 847-0008www.sanchezpp.com
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