UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): July 11, 2014
Compressco Partners, L.P.
(Exact name of registrant as specified in its charter)
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| | |
| Delaware | 1-35195 | 94-3450907 |
| (State or other jurisdiction | (Commission File Number) | (IRS Employer |
| of incorporation) | | Identification No.) |
| | | |
| 101 Park Avenue, Suite 1200 |
| Oklahoma City, Oklahoma 73102 |
| (Address of Principal Executive Offices and Zip Code) |
| | | |
Registrant's telephone number, including area code: (405) 677-0221 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On July 11, 2014, the Board of Directors of Compressco Partners GP Inc. (the “Board of Directors”), the general partner of Compressco Partners, L.P. (the “Partnership”), declared a cash distribution attributable to the quarter ended June 30, 2014 of $0.4525 per outstanding unit, which is an increase of $0.0075 per outstanding unit over the previous quarterly distribution of $0.445 per outstanding unit. The distribution will be payable on August 15, 2014 to the Partnership's unitholders of record as of the close of business on July 21, 2014.
Also on July 11, 2014, the Partnership issued a press release announcing that the Board of Directors had confirmed and approved that, upon payment of the second quarter distribution, the financial tests required for conversion of the Partnership’s outstanding subordinated units into common units will have been met. Accordingly, the Partnership’s 6,273,970 subordinated units will convert on a one-for-one basis into common units effective August 18, 2014, the first business day following the second quarter distribution. In addition, the Partnership announced that it plans to publicly release its financial results for the quarter ended June 30, 2014 on Thursday, August 7, 2014 and will hold a conference call at 10:30 a.m. Eastern Time on that day to discuss the financial results.
A copy of the press release announcing the cash distribution, conversion of the subordinated units, and schedule for the financial results release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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| | |
| Exhibit Number | | Description |
| 99.1 | | Press Release, dated July 11, 2014, issued by Compressco Partners, L.P. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| |
| | Compressco Partners, L.P. |
| By: | Compressco Partners GP Inc., its general partner |
| By: | /s/Ronald J. Foster |
| | Ronald J. Foster |
| | President |
| Date: July 11, 2014 | |
EXHIBIT INDEX
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| | |
| Exhibit Number | | Description |
| 99.1 | | Press Release, dated July 11, 2014, issued by Compressco Partners, L.P. |
