Partnership Equity and Distributions

3 Months Ended

Mar. 31, 2020

The following table details the distributions paid in respect of each period in which the distributions were earned for the following periods:


				Distributions
				Limited Partners						General Partner
Period	Record Date	Distribution Date	Distribution per limited partner unit	Common units		Subordinated units		IDRs

				(In thousands)






Q1 2019	May 17, 2019	May 29, 2019	$0.470	$	9,421	$	6,463	$	238
Q2 2019	August 16, 2019	August 28, 2019	$0.490	9,822		6,738		463
Q3 2019	November 15, 2019	November 27, 2019	$0.515	10,323		7,081		745
Q4 2019	February 13, 2020	February 27, 2020	$0.540	10,833		7,425		1,027

Cash distributions. On May 18, 2020, the Board of Directors of the General Partner declared the quarterly cash distribution for the first quarter of 2020 of $0.540 per unit. This distribution will be payable on June 8, 2020, to unitholders of record as of May 28, 2020. In addition, the General Partner will receive a cash distribution of $1.0 million attributable to the incentive distribution rights (“IDRs”) related to the earnings for the first quarter of 2020.

Incentive distribution rights. The General Partner owns all of the Partnership’s IDRs, which will entitle it to increasing percentages, up to a maximum of 50.0%, of the cash the Partnership distributes in excess of $0.4313 per unit per quarter. The maximum distribution of 50.0% does not include any distributions that Oasis Petroleum may receive on common units or subordinated units that it owns.