Crestwood Announces Fourth Quarter 2012 Distribution and

Crestwood Announces Fourth Quarter 2012 Distribution and Release Date
for 2012 Earnings 
HOUSTON, TX -- (Marketwire) -- 01/16/13 --   Crestwood Midstream
Partners LP (NYSE: CMLP) ("Crestwood") announced today that it is
maintaining its quarterly distribution of $0.51 per unit, or $2.04
per unit on an annualized basis, for the quarter ended December 31,
2012. This distribution will be payable on February 12, 2013, to
unitholders of record on January 31, 2013. Distributions for the full
year 2012 totaled $2.02 per unit, an 8% increase over the full year
"Crestwood will maintain its current quarterly distribution at $0.51
per unit for the fourth quarter 2012 distribution, which is in line
with our previously stated expectations for the full year 2012,"
stated Robert G. Phillips, Chairman, President and Chief Executiv
Officer of Crestwood's general partner. "While 2012 was a challenging
year for the partnership due to slower than expected producer
development on our dry gas systems, our mid-year shift to rich gas
assets and the recently completed drop down acquisition of Crestwood
Marcellus Midstream LLC ('CMM') has positioned Crestwood for higher
growth rates in 2013," Phillips added.  
With respect to the fourth quarter 2012 distribution, Crestwood's
existing Class C units will receive additional Class C units in lieu
of a cash distribution. The Class C units will convert to common
units on April 1, 2013. The recently issued Class D units, relating
to the CMM transaction, will begin receiving distributions for the
first quarter 2013, which will be declared in the second quarter
2013. The Class D units will have the same pay-in-kind feature as the
current Class C units until March 1, 2014, when they will convert to
common units.  
Crestwood plans to report financial results for the fourth quarter
2012 on Tuesday, February 26, 2013, before the New York Stock
Exchange opens for trading. Following the announcement, Crestwood
will host a conference call for investors and analysts at 10:00 a.m.
Central Time that day to discuss the operating and financial results.
Interested parties may participate by joining the conference call at
888-430-8683 and entering passcode 6909041. 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 6909041. 
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 Granite Wash in the
Texas Panhandle, the Marcellus Shale in northern West Virginia, the
emerging Avalon Shale trend in southeastern New Mexico, and the
Haynesville/Bossier Shale in western Louisiana. For more information
about Crestwood, visit  
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. 
Tax Notice to Foreign Investors 
This release serves as qualified notice to nominees under Treasury
Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of
Crestwood's distributions to foreign investors are attributable to
income that is effectively connected with a United States trade o
business. Accordingly, all of Crestwood's distributions to foreign
investors are subject to federal income tax withholding at the
highest effective tax rate for individuals or corporations, as
applicable. Nominees, and not Crestwood, are treated as the
withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors. 
Investor Contact: 
Mark Stockard
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