Partnership Equity and Distributions

9 Months Ended

Sep. 30, 2020

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


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

				(In thousands)







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
Q1 2020	May 28, 2020	June 8, 2020	0.540	10,833		7,425		1,027
Q2 2020	August 14, 2020	August 27, 2020	0.540	10,833		7,425		1,027

Cash distributions. On November 3, 2020, the Board of Directors of the General Partner declared the quarterly cash distribution for the third quarter of 2020 of $0.54 per unit. In addition, the General Partner will receive a cash distribution of $1.0 million attributable to the incentive distribution rights related to earnings for the third quarter of 2020. These distributions will be payable on November 27, 2020 to unitholders of record as of November 13, 2020.

Incentive distribution rights. The General Partner owns all of the Partnership’s incentive distribution rights (“IDRs”), which 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.