PHILADELPHIA, March 11, 2014 /PRNewswire/ -- Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL", "Atlas Pipeline", or the "Partnership") announced today that it has retained Citigroup Global Markets Inc. to begin a strategic review of its ownership interest in the West Texas LPG Pipeline Limited Partnership ("WTXLPG"). To the extent that Atlas Pipeline executes any transaction, the potential proceeds will be used to fund part of its significant growth opportunities in its core operating areas.
WTXLPG owns a 2,295 mile common carrier y-grade natural gas liquids pipeline operated by a subsidiary of Chevron Corporation. Atlas Pipeline owns a 20% interest in WTXLPG. The pipeline receives natural gas liquids from multiple receipt points in the Permian Basin and Barnett Shale in Texas and transports volumes to Mont Belvieu, TX for fractionation.
Atlas Pipeline Partners, L.P. (NYSE: APL) is active in the gathering and processing segments of the midstream natural gas industry. In Oklahoma, southern Kansas, Texas, and Tennessee, APL owns and operates 14 active gas processing plants, 18 gas treating facilities, as well as approximately 11,200 miles of active intrastate gas gathering pipeline. APL also has a 20% interest in West Texas LPG Pipeline Limited Partnership, which is operated by Chevron Corporation. For more information, visit the Partnership's website at www.atlaspipeline.com or contact IR@atlaspipeline.com.
Atlas Energy, L.P. (NYSE: ATLS)is a master limited partnership which owns all of the general partner Class A units and incentive distribution rights and an approximate 37% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P. Additionally, Atlas Energy owns and operates the general partner of its midstream oil & gas subsidiary, Atlas Pipeline Partners, L.P., through all of the general partner interest, all the incentive distribution rights and an approximate 6% limited partner interest. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.
Certain matters discussed within this press release are forward-looking statements. Although Atlas Pipeline Partners, L.P. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Atlas Pipeline does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in commodity prices and local or national economic conditions and other risks detailed from time to time in Atlas Pipeline's reports filed with the SEC, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
Contact: | Matthew Skelly |
Vice President | |
Investor Relations | |
1845 Walnut Street | |
Philadelphia, PA 19103 | |
(877) 280-2857 | |
(215) 561-5692 (facsimile) |
SOURCE Atlas Pipeline Partners, L.P.
