Exhibit 99.1

CVR PARTNERS REPORTS FOURTH QUARTER AND FULL YEAR 2011 RESULTS

INCREASES DISTRIBUTION GUIDANCE FOR 12 MONTHS ENDING MARCH 31, 2012

PROVIDES INITIAL CALENDAR YEAR 2012 GUIDANCE

SUGAR LAND, Texas (Feb. 22, 2012) — CVR Partners, LP (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate (UAN) solution fertilizer products, today announced fourth quarter 2011 net income of $41.2 million, or 56 cents per fully diluted common unit, on net sales of $87.6 million, compared to a $6.2 million net loss on net sales of $39.4 million for the fourth quarter a year earlier.

Adjusted EBITDA, a non-GAAP measure, was $48.4 million for the fourth quarter of 2011 compared to $7.5 million in the fourth quarter of 2010 (see footnote 5 in accompanying tables).

Full year 2011 net income was $132.4 million, or $1.48 per fully diluted common unit, on net sales of $302.9 million compared to $33.3 million of net income on net sales of $180.5 million for 2010.

Adjusted EBITDA for 2011 was $162.6 million compared to $52.6 million for the previous year.

“2011 was an outstanding year operationally and financially,” said Byron Kelley, president and chief executive officer. “The facility’s production reliability rates collectively over the full year were the highest achieved since the plant opened more than 10 years ago, which is a testament to the outstanding efforts of our employees.

“This high level of reliability combined with the best financial results in the company’s history places us in a solid position moving forward,” Kelley said.

Operations

For the fourth quarter 2011, average realized plant gate prices for ammonia and UAN were $606 per ton and $334 per ton respectively, compared to $491 per ton and $171 per ton respectively for the equivalent period in 2010. For the full year 2011, average realized plant gate prices for ammonia and UAN were $579 per ton and $284 per ton respectively, compared to $361 per ton and $179 per ton respectively for full year 2010.

CVR Partners produced 100,800 tons of ammonia during the fourth quarter of 2011, of which 27,500 net tons were available for sale while the rest was upgraded to 178,300 tons of more highly valued UAN. In the 2010 fourth quarter, the plant produced 69,900 tons of ammonia with 37,700 net tons available for sale with the remainder upgraded to 77,800 tons of UAN.

For full year 2011, CVR Partners produced 411,200 tons of ammonia, of which 116,800 net tons were available for sale while the rest was upgraded to 714,100 tons of UAN. In 2010, the company produced 392,700 tons of ammonia, of which 155,600 net tons were available for sale while the remaining was upgraded to 578,300 tons of UAN.

On-stream factors during the fourth quarter were 97.6 percent for the gasifiers, 97.1 percent for the ammonia synthesis loop, and 94.1 percent for the UAN conversion facility. For full year 2011, on-stream factors were 99.0 percent for the gasifiers, 97.7 percent for the ammonia synthesis loop, and 95.5 percent for the UAN conversion facility.

Distributions and Guidance

On Jan. 26, 2012, CVR Partners announced its fourth quarter distribution based on available cash of 58.8 cents per common unit which was paid on Feb. 14, 2012, to unitholders of record on Feb. 7, 2012. The company has distributed approximately $1.57 per common unit since its IPO in March 2011. CVR Partners said it is raising its previous distributions guidance from $1.92 per common unit to $2.00 to $2.05 per common unit for the 12 months ending March 31, 2012.

“We are pleased to increase our guidance, which is reflective of the outstanding performance of the last three quarters of 2011 and our expectations for the 2012 first quarter,” said Kelley. “Although we have seen a number of market factors that have tempered commodity pricing in relation to those late last year, in a historical context we continue to see very good prices for the first half of 2012.

“Combined with an ongoing focus on driving operational reliability and prudent cost control, we anticipate 2012 will be another good year for CVR Partners,” said Kelley.

For calendar year 2012, the company’s guidance range for distributions is $1.50 to $1.75 per common unit. Included in this guidance is an approximate 25 cent negative impact per common unit associated with the company’s biannual turnaround operation currently scheduled for the 2012 fourth quarter. Normalized for the turnaround, the distribution range would be approximately $1.75 to $2 per common unit.

“As we look beyond 2012, the macro-fundamentals of our business remain solid,” Kelley said. “Continued population growth, evolution to more protein-rich diets, and increased bio-fuel consumption indicate strong fertilizer demand over the long-term. Add to this the significant value created beginning in 2013 from our current UAN expansion project and the other strategic initiatives we are pursuing, we believe we are well positioned to successfully grow our business well into the future.”

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This news release contains forward-looking statements. You can generally identify forward-looking statements by our use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. For a discussion of risk factors

which may affect our results, please see the risk factors and other disclosures included in our Prospectus dated April 7, 2011, and filed with the SEC on April 11, 2011, and other filings with the SEC. These risks may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Partnership undertakes no duty to update its forward-looking statements.

About CVR Partners, LP

Headquartered in Sugar Land, Texas, with manufacturing facilities located in Coffeyville, Kan., CVR Partners, LP is a Delaware limited partnership focused primarily on the manufacture of nitrogen fertilizers. The CVR Partners nitrogen fertilizer manufacturing facility is the only operation in North America that uses a petroleum coke gasification process to produce nitrogen fertilizer and includes a 1,225 ton-per-day ammonia unit, a 2,025 ton-per-day urea ammonium nitrate unit, and a dual-train gasifier complex having a capacity of 84 million standard cubic feet per day of hydrogen.

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CVR Partners, LP

The following tables summarize financial data and key operating statistics for CVR Partners, LP (the “Partnership”) for the three and twelve months ended December 31, 2011 and 2010. Select balance sheet data is as of December 31, 2011 and December 31, 2010.

Use of Non-GAAP Financial Measures

To supplement the actual results in accordance with GAAP for the applicable periods, the Partnership also uses non-GAAP measures as discussed above, which are adjusted for GAAP-based results. The use of non-GAAP adjustments are not in accordance with or an alternative for GAAP. The adjustments are provided to enhance an overall understanding of the Partnership’s financial performance for the applicable periods and are indicators management believes are relevant and useful for planning and forecasting future periods.