Atlas Energy Buys Eagle Ford Midstream Business For $1 Billion
Atlas Energy LP’s midstream subsidiary, Atlas Pipeline Partners (APL) LP, has a definitive agreement to acquire 100% of the equity interests of TEAK Midstream LLC for $1 billion.
TEAK is a gas gathering and processing company with assets in the core of the Eagle Ford Shale in South Texas. The acquired assets include a 200 MMcf/d cryogenic processing plant (Silver Oak I), 265 miles of 20-inch and 24-inch high-pressure, rich gas gathering lines with 750 MMcf/d of throughput capacity, and a second 200 MMcf/d cryogenic processing plant (Silver Oak II), which is expected to be delivered to the partnership for installation shortly and be in service early next year.
APL expects further expansion of the acquired Eagle Ford assets beyond 2014, including the potential to add a third 200 MMcf/d processing facility and additional gathering pipelines among other projects.
- Coatings, pipe joint
- Compressor components
- Contractor, pipeline
- Contractor, river crossing/ directional drilling
- Directional drilling rigs, large
- Fittings, valves: plastic
- Meters, flow
- Pigs, cleaning
- Pigs, intelligent
- Pigs, scraper/ sphere launchers/ traps
- Scada systems
- Ultrasonic inspection
- Vacuum excavators/ potholing
- Valves, ball
- Welding systems, automatic