AROC
#Good morning, <UNK>.
Sure.
This is <UNK>, <UNK>.
As we thought through it, when you get to the 50% reduction level, you have eliminated all of the IDR payments made to AROC and you have cut the LP distribution by 50%, obviously.
We feel like that was the right place to get to.
If for some reason there is ---+ the market conditions are worse than we even anticipated ---+ anticipate more than we worked with in coming up with the 50% reduction.
We think there are other mechanisms we can employ that would be more additive than another distribution reduction.
We feel pretty comfortable that this 50% reduction should see us through the downturn.
There is not.
No.
Our pricing [grid] remains the same.
Thank you.
Thanks, operator.
I want to thank everyone for participating in our first-quarter call.
As we discussed on last quarter's call, market trends in the first quarter followed those that we saw late in 2015 and we believe we have demonstrated Archrock's ability to quickly right size the business and maintain our margins.
We expect the next few quarters to be challenging but we've taken the measures that we discussed on this call to position Archrock to navigate this downturn and participate in the recovery.
We now believe we have a solid balance sheet, ample liquidity, strong coverage.
We will continue to maximize that performance that this relatively stable compression business delivers.
As we do so, we will remain focused on providing exceptional coverage and service to our customers, protecting our balance sheet and leverage positions and maximizing our free cash flow.
I look forward to updating you all on our second-quarter call later in the year.
Thanks again.
