Copano Energy, L.L.C. (NASDAQ: CPNO) announced today the successful
conclusion of the consent solicitation relating to its 7.125% Senior
Notes due 2021 (the "Notes"). As of 5:00 p.m., New York City time, on
April 16, 2013 (the "Expiration Date"), Copano had received consents to
the adoption of certain proposed amendments to the indenture governing
the Notes from holders of approximately $506 million in aggregate
principal amount, or 99%, of the outstanding Notes. Copano, its
subsidiary guarantors and the trustee under the indenture have executed
a supplemental indenture making the amendments effective. The consent
solicitation was made pursuant to the consent solicitation statement
dated March 28, 2013, as amended.
Copano is in the process of making a cash payment of $2.50 per $1,000
principal amount of Notes to each Noteholder who validly delivered (and
did not revoke) a consent prior to the Expiration Date. Any questions
respecting these payments should be directed to the Tabulation and
Information Agent for the consent solicitation, D.F. King & Co., Inc. at
(888) 887-0082 (toll free) or (212) 269-5550 (banks and brokers, call
collect).
About Copano Energy, L.L.C.
Copano Energy, L.L.C. is a midstream natural gas company with operations
in Texas, Oklahoma and Wyoming. For more information, please visit http://www.copano.com.
This news 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 forward-looking
statements include the following risks and uncertainties, many of
which are beyond Copano's control: the volatility of prices and market
demand for natural gas, crude oil, condensate and NGLs, and for
products derived from these commodities; Copano's ability to continue to
connect new sources of natural gas, crude oil and condensate, and
the NGL content of new gas supplies; the ability of key producers to
continue to drill and successfully complete and connect new
natural gas and condensate volumes and such producers' performance under
their contracts with Copano; Copano's ability to attract and retain
key customers and contract with new customers, and such customers'
performance under their contracts with Copano; Copano's ability to
access or construct new pipeline capacity, gas processing and NGL
fractionation and transportation capacity; the availability of local,
intrastate and interstate transportation systems, trucks and
other facilities and services for condensate, natural gas and NGLs;
Copano's ability (and the ability of its third-party service
providers) to meet in-service dates, cost expectations and operating
performance standards for construction projects; Copano's ability
to successfully integrate any acquired asset or operations; Copano's
ability to access its revolving credit facility and to obtain
additional financing on acceptable terms; the effectiveness of Copano's
hedging program; general economic conditions; force majeure
events such as the loss of a market or facility downtime; the effects of
government regulations and policies; Copano's ability to complete
its proposed merger with Kinder Morgan; and other financial, operational
and legal risks and uncertainties detailed from time to time in
Copano's quarterly and annual reports filed with the Securities and
Exchange Commission. Copano does not undertake to update any
forward-looking statement except as provided by law.
