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Slide #21. Atlas Pipeline Partners, L.P. — Eagle Ford Midstream Business
Atlas Pipeline Partners, L.P. (APL)
Eagle Ford Midstream Business
Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL", "Atlas Pipeline", or the "Partnership") announced today that the Partnership has executed a definitive agreement to acquire 100% of the equity interests of TEAK Midstream, L.L.C. ("TEAK"), a privately owned midstream operator, for $1 billion in cash. TEAK is a natural gas gathering and processing company with assets located in the core of the Eagle Ford Shale, a liquids-rich, highly prolific oil and gas area of south Texas. The transaction is expected to close in the second quarter of 2013 and is subject to certain regulatory approvals and customary closing conditions.
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)
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