UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): October 19, 2020 

 

CSI Compressco LP

(Exact Name of Registrant as Specified in Charter) 

 

Delaware

1-35195

94-3450907

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

 

24955 Interstate 45 North

The Woodlands, Texas 77380

(Address of Principal Executive Offices, and Zip Code)

 

(281) 367-1983

Registrant’s Telephone Number, Including Area Code

 

 

(Former Name or Former Address, if Changed Since Last Report) 

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 communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Units

CCLP

NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

                                                                                                                                                                        Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 


 

Item 8.01. Other Events.

On October 19, 2020, the Board of Directors of CSI Compressco GP Inc., the general partner of CSI Compressco LP (the “Partnership”), declared a cash distribution attributable to the quarter ended September 30, 2020 of $0.01 per outstanding common unit, which is equal to the previous quarterly distribution.  The distribution will be paid on November 13, 2020 to the Partnership's unitholders of record as of the close of business on November 1, 2020.  

 

On October 20, 2020, the Partnership announced that it plans to publicly release its third quarter financial results on Monday, November 2, 2020, and hold a conference call at 9:30 a.m. Eastern Time on that day to discuss the financial results.

 

A copy of the news release announcing the cash distribution and schedule for the financial results release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit Number

 

Description

99.1

 

News Release dated October 20, 2020 issued by CSI Compressco LP.

 


 


 

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.

 

 

CSI Compressco LP

 

 

 

 

By:

CSI Compressco GP Inc.,

 

 

its general partner

 

 

 

 

By:

/s/Brady M. Murphy

 

 

Brady M. Murphy.

 

 

President

 

 

 

Date: October 20, 2020

 

 

 

 

 

 

 

 

 

cclp-ex991_6.htm

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

CSI Compressco LP Announces Quarterly Distribution and Schedule for Third Quarter 2020 Earnings Release Conference Call and Webcast

 

THE WOODLANDS, Texas, October 20, 2020 /PRNewswire/ -- CSI Compressco LP ("CSI Compressco") (NASDAQ: CCLP) announced today that the board of directors of its general partner has declared a cash distribution attributable to the quarter ended September 30, 2020 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. This cash distribution will be paid on November 13, 2020 to all common unitholders of record as of the close of business on November 1, 2020.

CSI Compressco expects to release its third quarter 2020 results before the opening of the market on Monday, November 2, 2020.  Following the release, CSI Compressco will host a conference call at 9:30 a.m. Eastern Time to discuss the results.  CSI Compressco invites you to listen to the conference call by calling the toll free number 1-866-374-8397. The conference call will also be available by live audio webcast and may be accessed through CSI Compressco's website at www.csicompressco.com. The news release will be available on CSI Compressco's website prior to the conference call.  An audio replay of the conference call will be available at 1-877-344-7529, conference number 10148820 for one week following the conference call and the archived webcast will be available through CSI Compressco's website for thirty days following the conference call.

About CSI Compressco

CSI Compressco is a provider of compression services and equipment for natural gas and oil production, gathering, artificial lift, transmission, processing, and storage. CSI Compressco’s compression and related services business includes a fleet of more than 4,900 compressor packages providing approximately 1.17 million in aggregate horsepower, utilizing a full spectrum of low-, medium- and high-horsepower engines.  CSI Compressco also provides well monitoring and automated sand separation services in conjunction with compression and related services in certain Latin American markets. CSI Compressco’s aftermarket business provides compressor package reconfiguration and maintenance services. CSI Compressco’s customers comprise a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States, as well as in a number of foreign countries, including Mexico, Canada and Argentina. CSI Compressco is managed by CSI Compressco GP Inc., which is an indirect, wholly owned subsidiary of TETRA Technologies, Inc. (NYSE: TTI).This news release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). CSI Compressco's distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate.  Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

SOURCE CSI Compressco LP

For further information: Elijio Serrano, CFO, CSI Compressco LP., The Woodlands, Texas, Phone: 281.367.1983, www.csicompressco.com