Atlas Pipeline Partners, L.P. Retains Citigroup Global Markets To Sell Its
Interest In West Texas LPG Pipeline Limited Partnership
PHILADELPHIA, March 11, 2014
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
1845 Walnut Street
Philadelphia, PA 19103
(215) 561-5692 (facsimile)
SOURCE Atlas Pipeline Partners, L.P.
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