SOURCE: Crestwood Midstream Partners LP

Crestwood Midstream Partners LP

April 18, 2012 08:00 ET

Crestwood Announces Sixth Consecutive Quarterly Distribution Increase and First Quarter 2012 Earnings Announcement

HOUSTON, TX--(Marketwire - Apr 18, 2012) - Crestwood Midstream Partners LP (NYSE: CMLP) ("Crestwood") announced today that the Board of Directors of its general partner has declared a regular quarterly distribution of $0.50 per unit for the quarter ended March 31, 2012. This quarterly distribution will be payable on May 11, 2012, to unitholders of record on May 1, 2012, and represents a 14 percent increase over the $0.44 per unit distribution paid with respect to the first quarter of 2011. The Class C units issued in April 2011 will not receive a cash distribution, but will instead be issued additional Class C units.

Crestwood also announced plans to report financial results for the first quarter of 2012 on Tuesday, May 8, 2012, before the New York Stock Exchange opens for trading. Following the announcement, Crestwood will host a conference call for investors and analysts at 9:00 a.m. Central Time that day to discuss the operating and financial results. Interested parties may participate in the call by joining the conference call at 888-264-8926 and entering passcode 4555934. The conference call will also be webcast live and can be accessed through the Investor Relations section of our website. A replay will be available for 30 days following the conference call by dialing 888-203-1112 and entering the replay passcode 4555934.

In addition, Crestwood's 2011 Annual Report, combined with its previously filed Form 10-K, will be available electronically through the Investor Relations section on our website beginning the week of April 23, 2012.

About Crestwood Midstream Partners LP
Houston, Texas based Crestwood is a growth-oriented, midstream master limited partnership which owns and operates predominately fee-based gathering, processing, treating and compression assets servicing natural gas producers in the Barnett Shale in north Texas, the Fayetteville Shale in northwest Arkansas, the Haynesville/Bossier Shale in western Louisiana, the Granite Wash in the Texas Panhandle, the Avalon Shale in southeastern New Mexico and the Marcellus Shale in northern West Virginia. For more information about Crestwood, visit www.crestwoodlp.com.

Forward-Looking Statements
The statements in this news release regarding future events, occurrences, circumstances, activities, performance, outcomes and results are forward-looking statements. Although these statements reflect the current views, assumptions and expectations of Crestwood's management, the matters addressed herein are subject to numerous risks and uncertainties which could cause actual activities, performance, outcomes and results to differ materially from those indicated. Such forward-looking statements include, but are not limited to, statements about the future financial and operating results, objectives, expectations and intentions and other statements that are not historical facts. Factors that could result in such differences or otherwise materially affect Crestwood's financial condition, results of operations and cash flows including, without limitation, changes in general economic conditions; fluctuations in oil, natural gas and NGL prices; the extent and success of drilling efforts, as well as the extent and quality of natural gas volumes produced within proximity of our assets; failure or delays by our customers in achieving expected production in their natural gas projects; competitive conditions in our industry and their impact on our ability to connect natural gas supplies to our gathering and processing assets or systems; actions or inactions taken or non-performance by third parties, including suppliers, contractors, operators, processors, transporters and customers; our ability to consummate acquisitions, successfully integrate the acquired businesses, realize any cost savings and other synergies from any acquisition; changes in the availability and cost of capital; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; timely receipt of necessary government approvals and permits, our ability to control the costs of construction, including costs of materials, labor and right-of-way and other factors that may impact our ability to complete projects within budget and on schedule; the effects of existing and future laws and governmental regulations, including environmental and climate change requirements; the effects of existing and future litigation; and risks related to our substantial indebtedness, as well as other factors disclosed in Crestwood's filings with the U.S. Securities and Exchange Commission. You should read our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2011, and our most recent Quarterly Reports and Current Reports for a more extensive list of factors that could affect results.

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