Atlas Pipeline Partners L.P. Announces Start Of Driver Facility In Permian Basin And Addition Of Increased NGL Takeaway In Oklahoma And Texas
PHILADELPHIA, April 15, 2013 /PRNewswire/ -- Atlas Pipeline Partners, L.P. (NYSE: APL)("APL", "Atlas Pipeline", or the "Partnership") announced today that the Partnership has placed in service its new 200 MMcfd cryogenic processing plant, the Driver processing facility, on its WestTX system in the Permian Basin of Texas and has completed connection of an additional natural gas liquid ("NGL") takeaway pipeline at its WestOK system, which is located in the Mississippi Lime and Anadarko Basin areas of Oklahoma and Kansas.
The Driver processing facility was placed in service on April 12, 2013 and increases the overall processing capacity on the WestTX system to 455 MMcfd. The new plant has been installed to facilitate continued production from the oil and liquids-rich Permian Basin, including the Spraberry and Wolfberry formations, among others. The Driver facility is expected to run in start-up mode producing reduced volumes as the plant is tested and other measurements are taken, which is expected to continue for approximately two weeks.
In addition to the start-up of the Driver facility, APL's WestOK system in the Mississippi Lime has recently increased its NGL takeaway capacity through connection to DCP Midstream Partners, L.P.'s Southern Hills NGL pipeline. The Southern Hills pipeline, connected to WestOK on April 2, 2013, supports NGL production from the Waynoka II facility, a new 200 MMcfd cryogenic processing facility which was placed in service last September.
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, northern and western Texas, and Tennessee, APL owns and operates 13 active gas processing plants, 18 gas treating facilities, as well as approximately 10,100 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 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 9% limited partner interest. Additionally, Atlas Energy owns all of the general partner Class A units and incentive distribution rights and an approximate 43% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P. For more information, please visit the Partnership's 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 process 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, reports on Form 8-K and annual reports on Form 10-K.
SOURCE Atlas Pipeline Partners, L.P.