KANSAS CITY, Mo., Apr 26, 2012 (BUSINESS WIRE) --The Board of Directors of NRGM GP, LLC, general partner of Inergy
Midstream, L.P. (NYSE:NRGM), announced that it has declared the
company's quarterly cash distribution of $0.37 per limited partner unit
($1.48 annually) for the quarter ended March 31, 2012. The distribution
will be paid on May 15, 2012, to unitholders of record as of May 8, 2012.
"We are pleased to declare our first full quarterly distribution to our
new unitholders. Inergy Midstream's business is performing as expected,
our Marc I pipeline project is under construction, and our balance sheet
is well positioned to support the growth in our midstream operations,"
said John Sherman, President and CEO of Inergy Midstream. "We are very
focused on delivering growth in cash distributions to unitholders."
Inergy Midstream plans to release its fiscal 2012 second quarter
earnings on May 3, 2012. Inergy Midstream will host a live conference
call and internet webcast on May 3, 2012, at 9:00 a.m. Central Time to
discuss the results of operations for the quarter ended March 31, 2012,
and its business outlook. The call-in number for the earnings call is
1-888-595-3894, and the conference name is Inergy Midstream. The live
internet webcast and the replay can be accessed on Inergy Midstream's
website, www.inergylp.com.
A digital recording of the call will be available for one week following
the call by dialing 1-855-859-2056 and entering the pass code 75956869.
About Inergy Midstream, L.P.
Inergy Midstream, L.P., headquartered in Kansas City, Missouri, is a
master limited partnership engaged in the development and operation of
natural gas and NGL storage and transportation assets. Our assets are
located in the Northeast region of the United States.
This press release contains forward-looking statements, which are
statements that are not historical in nature such as the expectation
that we expect to deliver growth in cash distributions to unitholders.
Forward-looking statements are subject to certain risks, uncertainties,
and assumptions. Should one or more of these risks or uncertainties
materialize or any underlying assumption proves incorrect, actual
results may vary materially from those anticipated, estimated, or
projected. Among the key factors that could cause actual results to
differ materially from those referred to in the forward-looking
statements are: weather conditions that vary significantly from
historically normal conditions; the general level of petroleum product
demand and the availability of propane supplies; the price of propane to
the consumer compared to the price of alternative and competing fuels;
the demand for high deliverability natural gas storage capacity in the
Northeast; our ability to successfully implement our business plan,
including the placement of our expansion projects in-service in a timely
manner; the outcome of rate decisions levied by the Federal Energy
Regulatory Commission; our ability to generate available cash for
distribution to unitholders; and the costs and effects of legal,
regulatory, and administrative proceedings against us or which may be
brought against us. These and other risks and assumptions are described
in Inergy's annual reports on Form 10-K and other reports that are
available from the United States Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on forward-looking
statements, which reflect management's view only as of the date made. We
undertake no obligation to update any forward-looking statement, except
as otherwise required by law.
Corporate news, unit prices, and additional information about Inergy
Midstream, including reports from the United States Securities and
Exchange Commission, are available on the company's website, www.inergylp.com.
For more information, contact Mike Campbell in Inergy Midstream's
Investor Relations Department at 816-842-8181 or via e-mail at investorrelations@inergyservices.com.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent of Inergy's distributions to foreign investors as being
attributable to income that is effectively connected with a United
States trade or business. Accordingly, Inergy Midstream's distributions
to foreign investors are subject to federal income tax withholding at
the highest applicable effective tax rate.
SOURCE: Inergy Midstream, L.P.
Inergy Midstream, L.P.
Mike Campbell, 816-842-8181
investorrelations@inergyservices.com
