HOUSTON, Aug. 28 /PRNewswire-FirstCall/ -- Constellation Energy
Partners LLC (NYSE: CEP) today released a statement regarding the
announcement by Constellation Energy (NYSE: CEG) that it intends to sell
its upstream gas assets.
"We have been informed of Constellation Energy's decision to sell its
upstream gas assets," said Stephen R. Brunner, president and chief
executive officer of Constellation Energy Partners. "Constellation Energy
informed us that they are committed to continuing to provide all the
services to the company as agreed to in its Management Services Agreement.
We value our strategic relationship with Constellation Energy and
appreciate their commitment to continue to provide ongoing support to our
company. We intend to work closely with our Board of Managers and the
management team at Constellation Energy to evaluate the potential impact
that their current and future decisions may have on our company. As we move
forward through the process we will focus on developing a plan that is in
the interests of our company and unitholders.
"We do not expect any immediate impact on our business operations and
we remain focused on running the business and executing on our strategic
plan. We continue to focus on achieving our 2008 commitments and delivering
cash flow stability and future growth to our unitholders."
Forward-Looking Statements
We make statements in this news release that are considered forward-
looking statements within the meaning of the Securities Exchange Act of
1934. These forward-looking statements are largely based on our
expectations, which reflect estimates and assumptions made by our
management. These estimates and assumptions reflect our best judgment based
on currently known market conditions and other factors. Although we believe
such estimates and assumptions to be reasonable, they are inherently
uncertain and involve a number of risks and uncertainties that are beyond
our control. In addition, management's assumptions about future events may
prove to be inaccurate. Management cautions all readers that the
forward-looking statements contained in this news release are not
guarantees of future performance, and we cannot assure you that such
statements will be realized or the forward-looking events and circumstances
will occur. Actual results may differ materially from those anticipated or
implied in the forward-looking statements due to factors listed in the
"Risk Factors" section in our SEC filings and elsewhere in those filings.
All forward-looking statements speak only as of the date of this news
release. We do not intend to publicly update or revise any forward-looking
statements as a result of new information, future events or otherwise.
Constellation Energy Partners LLC,
(http://www.constellationenergypartners.com), is a limited liability
company focused on the acquisition, development and exploitation of oil and
natural gas properties, as well as related midstream assets.
SOURCE Constellation Energy Partners LLC
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Related links:
http://www.constellationenergypartners.com
http://www.constellation.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Media, Lawrence McDonnell, +1-410-470-7433,
Investor, Tonya Cultice, +1-410-470-5619, both of Constellation
Energy Partners LLC
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