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Quest Energy Partners (QELP) Suspends Quarterly Distribution On Common Units
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Quest Energy Partners L.P. (Nasdaq: QELP) announced that the Board of Directors of QELP's general partner has decided to suspend distributions on the Partnership's common units beginning with the distribution for the fourth quarter of 2008 that was scheduled to be paid in mid-February 2009. The Board suspended distributions on the subordinated units owned by Quest Resource Corporation (Nasdaq: QRCP) starting with the third quarter of 2008 distribution paid in November 2008.
Under the terms of its partnership agreement, QELP's common units will carry an arrearage for the fourth quarter's minimum quarterly distribution of $0.40 per unit that must be paid before the Partnership can make distributions to its subordinated units.
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Quest Energy Partners, L.P. was formed by Quest Resource Corp. to acquire, exploit and develop natural gas and oil properties and to acquire, own, and operate related assets. T
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