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Slide #20. Atlas Pipeline Partners, L.P. — TEAK Midstream, L.L.C.
Atlas Pipeline Partners, L.P. (APL)
TEAK Midstream, L.L.C.
Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL", "Atlas Pipeline", or the "Partnership") announced today that the Partnership has closed on its previously announced purchase of TEAK Midstream, L.L.C. ("TEAK Midstream" or "TEAK"), a private midstream company. The effective date of the acquisition was April 1, 2013. Final cash consideration for TEAK totaled $1.0 billion, subject to working capital and other adjustments contemplated by the Purchase and Sale Agreement.
Atlas Pipeline Partners is a provider of natural gas gathering, processing and treating services primarily in the Anadarko, Arkoma and Permian Basins located in the southwestern and mid-continent regions of the U.S. and in the Eagle Ford Shale play in south Texas; a provider of natural gas gathering services in the Appalachian Basin in the northeastern region of the U.S. and a provider of natural gas liquid transportation services in the southwestern region of the U.S. Co.'s general partner, Atlas Pipeline Partners GP, LLC, manages Co.'s operations and activities. Co. conducts its business through two segments: Gathering and Processing; and Transportation, Treating and Other.
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Hold (2.00 out of 4)
(ranked higher than approx. 98% of all stocks covered)
Based on Zacks ABR data;
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