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Partnership Unit Repurchase Program and Equity Distribution Agreement
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Partnership Unit Repurchase Program and Equity Distribution Agreement
23. Partnership Unit Repurchase Program and Equity Distribution Agreement
On July 20, 2015, the Partnership's Board of Directors authorized a program for the Partnership to repurchase up to $50 million of its common units from time to time in open market transactions, including block trades, or in privately negotiated transactions. During 2015, the Partnership repurchased 0.9 million of its common units, in the open market, for $12.8 million at an average price of $14.91 per unit, leaving $37.2 million available under the authorized unit repurchase program.
On August 5, 2014, the Partnership entered into an equity distribution agreement ("Equity Agreement") in which the Partnership may sell from time to time through Wells Fargo Securities, LLC, the Partnership’s common units representing limited partner interests having an aggregate offering price of up to $75.0 million. During 2014, the Partnership sold 62,956 common units under the Equity Agreement with an aggregate offering price of $1.8 million, leaving $73.2 million available under the Equity Agreement. The Equity Agreement was suspended during 2015.