Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events

Subsequent Events

18. SUBSEQUENT EVENTS

On August 9, 2017, the board of directors of our general partner declared a second quarter 2017 cash distribution on the Partnership’s common units of $0.4441 per unit ($1.7764 per unit annualized) payable on August 31, 2017 to holders of record on August 22, 2017.  The Partnership also declared a second quarter distribution on the Class B preferred units and elected to pay the distribution in cash. Accordingly, the Partnership declared a cash distribution of $0.28225 per Class B preferred unit payable on August 31, 2017 to holders of record on August 22, 2017.

On July 17, 2017, we closed the Oklahoma Production Divestiture pursuant to which we sold all of the Partnership’s equity interests in the entities that owned our remaining operated Oklahoma production assets for cash consideration of $5.5 million. In addition, the buyer assumed all obligations relating to the assets arising after the closing date and all plugging and abandonment costs relating to the assets arising prior to the closing date.