NEW YORK Atlas Pipeline
Partners LP has agreed to pay $1 billion to acquire Teak
Midstream LLC, a natural gas gathering and processing company
with assets in the Eagle Ford shale.
Pittsburgh-based Atlas will
acquire all of Dallas-based Teaks assets, including a
200-million-cubic-foot-per-day cryogenic processing facility, a
second 200-million-cubic-foot-per-day cryogenic facility
expected to be in service in the first quarter of 2014, 265
miles of mostly 20- to 24-inch gathering and residue lines with
750 million cubic feet per day of throughput capacity, and 275
miles of low-pressure gathering lines.
Atlas will also acquire a 50- to 75-percent interest in
various joint ventures with San Antonio-based TexStar Midstream
Services LP, including 235 miles of gathering, header and
residue pipelines; three miles of natural gas liquids
pipelines; and a cogeneration facility.