KNOT Offshore Partners LP Buyback
OLI recorded this information on 8/29/2016
KNOT Offshore Partners LP
Share Amount Authorized:
KNOT Offshore Partners LP (the "Partnership") (NYSE:KNOP) announced today that the boards of directors of the Partnership and KNOT Offshore Partners GP LLC (the "General Partner") have each authorized an extension of the common unit purchase program. Originally approved on August 12, 2015, the program authorized the Partnership to repurchase up to 666,667 of its common units and the General Partner to purchase up to 333,333 common units of the Partnership. The program was originally scheduled to expire on August 31, 2016, and the extended program will conclude on August 31, 2017. To date, the Partnership and the General Partner have purchased 180,906 and 90,368 common units, respectively, pursuant to the program. The Partnership and the General Partner may therefore purchase up to an additional 485,761 and 242,965 common units, respectively, under the extended program.
KNOT Offshore Partners is a limited partnership formed to own, operate and acquire shuttle tankers under long-term charters, which Co. defines as charters of five years or more.
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Strong Buy (4.00 out of 4)