Copano Energy, L.L.C. (NASDAQ: CPNO) announced today a cash distribution
for the fourth quarter of 2011 of $0.575 per unit, or $2.30 per unit on
an annualized basis, for all of its outstanding common units. This
distribution will be payable on February 9, 2012, to holders of record
of common units at the close of business on January 26, 2012.
"Copano will maintain its $0.575 quarterly distribution to unitholders,"
said R. Bruce Northcutt, President and Chief Executive Officer of
Copano. "We estimate that our fourth quarter distributable cash flow
will be significantly higher compared to the third quarter and that our
distribution coverage will be in excess of 100% due to increased volumes
related to the completion and start-up of several of our Eagle Ford
shale projects during the quarter." Northcutt added, "We are very
pleased with the pace of our Eagle Ford volume build-up and the NGLs we
are recovering, and expect even better results in the first quarter as
we see the full-quarter effect of our projects."
This release serves as qualified notice to nominees under Treasury
Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of
Copano's distributions to foreign investors are attributable to income
that is effectively connected with a United States trade or business.
Accordingly, all of Copano'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
Copano, are treated as the withholding agents responsible for
withholding on the distributions received by them on behalf of foreign
investors.
About Copano Energy, L.L.C.
Copano Energy, L.L.C. (NASDAQ: CPNO) is a midstream natural gas company
with operations in Texas, Oklahoma, Wyoming and Louisiana. Its assets
include approximately 6,700 miles of active natural gas gathering and
transmission pipelines, 370 miles of NGL pipelines and 10 natural gas
processing plants, with more than 1 billion cubic feet per day of
combined processing capacity and 44,000 barrels per day of fractionation
capacity. More information is available at http://www.copano.com.
This press release includes "forward-looking statements," as defined
by the Securities and Exchange Commission. Statements that
address activities or events that Copano believes will or may occur in
the future are forward-looking statements. These statements
include, but are not limited to, statements about future producer
activity and Copano's total distributable cash flow and
distribution coverage. These statements are based on management's
experience and perception of historical trends, current
conditions, expected future developments and other factors management
believes are reasonable. Important factors that could cause
actual results to differ materially from those in the forward-looking
statements include the following risks and uncertainties, many of
which are beyond Copano's control: price volatility and market demand
for natural gas and natural gas liquids; Copano's ability to
continue to obtain new sources of natural gas supply and retain its key
customers; the impact on volumes and resulting cash flow of
technological, economic and other uncertainties inherent in estimating
future production, producers' ability to drill and successfully
complete and attach new natural gas supplies and the availability of
downstream transportation systems and other facilities for
natural gas and NGLs; higher construction costs or project delays due to
inflation, limited availability of required resources or the
effects of environmental, legal or other uncertainties; general economic
conditions; the effects of government regulations and policies; and
other financial, operational and legal risks and uncertainties detailed
from time to time in Copano's filings with the Securities and Exchange
Commission.
