Atlas Pipeline Partners, L.P. Announces First Quarter Distribution And
PHILADELPHIA, April 22, 2014
PHILADELPHIA, April 22, 2014 /PRNewswire/ -- Atlas Pipeline Partners, L.P.
(NYSE: APL) ("APL," "Atlas Pipeline," or the "Partnership") today announced
the Board of Directors of APL has approved the 2014 first quarter distribution
and management has set a date and time to provide further information and
details on the financial and operational results for the first quarter of
The Partnership has declared a quarterly cash distribution for the first
quarter of 2014 of $0.62 per common limited partner unit, payable Thursday,
May 15, 2014 to holders of record as of Thursday, May 8, 2014. The
Partnership is expecting to have coverage for the first quarter distribution
of approximately 1.09x, which is in line with the Partnership's financial
guidance. APL is reiterating its 2014 distribution guidance, which expects
APL to pay a minimum distribution of $0.65 per limited partner unit in
conjunction with the fourth quarter results of 2014.
"We are pleased to announce the current distribution, a result of a solid
first quarter. Operational activity is increasing coming out of the winter
season and we are poised to capture further growth from the large diverse
operations we have. We are excited to have significant capital projects
coming online this year to serve our producer customers and significantly lift
our margins," commented Eugene Dubay, Chief Executive Officer of the
The Partnership is expecting to release its financial results for the first
quarter 2014 after market hours on Monday, May 5, 2014 and interested parties
are invited to access the live webcast of an investor call with management
regarding the Partnership's first quarter 2014 results on Tuesday, May 6, 2014
at 10:00 am ET by going to the Investor Relations section of the Partnership's
website at www.atlaspipeline.com. An audio replay of the conference call will
also be available beginning at 2:00 pm ET on Tuesday, May 6, 2014. To access
the replay, dial 1-888-286-8010 and enter conference code 78833930.
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, 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, 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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