Cypress Energy Partners, L.P. (NYSE: CELP) announced today that the board of directors of its general partner declared a cash distribution for the fourth quarter of 2015. The cash distribution is $0.406413 per limited partner unit. This amount remains unchanged from the third quarter of 2015 and reflects a 4.88% increase over the target minimum quarterly cash distribution of $0.3875. The distribution will be payable on February 12, 2016 to all unitholders of record on February 5, 2016.

Peter C. Boylan III, CELP's chairman, president and chief executive officer, stated, "We were pleased to announce that our fourth quarter 2015 cash distribution remains unchanged despite the significant pressure in the energy markets in general and the MLP market specifically. CELP’s low capital expenditure business model is not typical of the industry, and consequently we do not have the internal competition between funding infrastructure build-outs versus making quarterly cash distributions with which many other MLPs must contend. We also have ample liquidity with our credit facility and approximately $24 million of cash at December 31, 2015. Additionally, the subordinated nature of approximately 50% of our units protects common unitholders who have the right to first receive available cash up to the minimum quarterly distribution before subordinated unitholders would receive any cash distribution. Our general partner and its affiliates are aligned with our common unit holders, with an approximate 65% ownership interest in CELP, and have the ability to support or protect the distribution coverage ratio."

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While CELP believes its expectations as reflected in the forward-looking statements are reasonable, CELP can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in CELP’s annual report on Form 10-K and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” CELP undertakes no obligation to publicly update or revise any forward-looking statements except as required by law. For more information please visit www.cypressenergy.com.

About Cypress Energy Partners, L.P.

Cypress Energy Partners, L.P. is a growth-oriented master limited partnership that provides midstream services including pipeline inspection, integrity and hydrostatic testing services to energy, E&P and midstream companies and their vendors throughout the U.S. and Canada. Cypress also provides saltwater disposal and other water and environmental services to U.S. energy E&P companies and their vendors in North Dakota in the Williston Basin, and West Texas in the Permian Basin. In all three of these business segments, Cypress works closely with its customers to help them comply with increasingly complex and strict environmental and safety rules and regulations and reduce their operating costs. Cypress is headquartered in Tulsa, Oklahoma.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of Cypress Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.