Atlas Pipeline Partners, L.P. Announces WestOK Expansion Online With Significant Volume
PHILADELPHIA, Oct. 3, 2012 /PRNewswire/ -- Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL", "Atlas Pipeline", or the "Partnership") announced today that a new, 200 mmcfd, cryogenic processing plant on the Partnership's WestOK gathering and processing system in northwest Oklahoma and southern Kansas, was transferred to operations on September 22, 2012. The new facility, referred to as the Waynoka II plant, is online and already operating at approximately 130 mmcfd. This expansion brings the total nameplate processing capacity at the Waynoka location to 400 mmcfd, and total nameplate processing capacity on the entire WestOK system increases from 258 mmcfd to 458 mmcfd, a 78% increase in nameplate processing capacity.
The WestOK system is currently gathering over 410 mmcfd, including significant volumes from the Partnership's producer customers operating in the Mississippi Lime formation. Both the Waynoka I and Waynoka II plants will be processing below full capacity and certain volumes will continue to bypass the Partnership's processing facilities in order to adhere to the Partnership's current natural gas liquids ("NGL") allocation limit on the WestOK system. The Partnership has contracted for additional NGL takeaway, which is expected to be available in the first half of 2013 as additional NGL pipeline construction is completed.
"We are excited to have completed this expansion at WestOK, which along with our recent expansion at Velma, has increased our overall processing capacity by 260 mmcfd, or 73% on these two systems. We will be very pleased with the incremental margin that the company will realize as volumes continue to increase and, for Waynoka II, when new NGL takeaway becomes available in the first half of 2013. Additionally, we are fully underway in the expansion of our other system, WestTX, and expect to have the Driver plant online in the first half of 2013 as well," stated Eugene Dubay, Chief Executive Officer of the Partnership.
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 nine active gas processing plants as well as approximately 9,700 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 interest and approximately 52% of the limited partner interests 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 which it owns a 2% general partner interest, all the incentive distribution rights and an approximate 11% 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 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.
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SOURCE Atlas Pipeline Partners, L.P.