Tulsa-based Cypress Energy Partners, L.P. plans to release its fourth quarter 2015 financial results on Wednesday. The release will be made after the close of trading on the New York Stock Exchange. It will also hold a conference call at 4 p.m. on the same date.
The quarterly release comes two months after the firm declared a cash distribution for the fourth quarter totaling $0.406413 per limited partner unit. It reflects a 4.88 percent increase over the target minimum quarterly cash distribution of $0.3875 from the third quarter of 2015. At the time of the cash distribution announcement, CELP’s chairman, president and ceo, Peter Boylan said the company had ample liquidity with its credit facility and nearly $24 million of cash at the end of December 2015.
Cypress Energy is a four year old company founded by the Charles C. Stephenson, Jr. family and Peter C. Boylan III. It provides saltwater disposal and other water and environmental services to U.S. onshore oil and natural gas producers and trucking companies. The firm also provides independent pipeline inspection and integrity services to pipeline, public utilities and oil and gas companies.
