Atlas Pipeline Accelerates Driver Start-Up, Cuts Deal with SandRidge; Shares Flat Late

By Staff,

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Atlas Pipeline Partners, L.P. ( APL ) is updating the timing of its WestTX expansion, the 200 million cubic feet per day Driver cryogenic processing facility. This facility was originally expected to come online in two phases with phase one online in 1Q'13 and phase two online in 1Q'14, with each phase consisting of 100 mmcfd of processing capacity. The Driver facility is now expected to have the entire 200 mmcfd come online by the end of the first quarter or early second quarter of 2013.

The company also announced that it has entered into a new contract with SandRidge Energy, Inc. ( SD ), a five year contract commencing January 1, 2013, extendable at the option of SandRidge to a nine year term if a minimum level of throughput volume is met.

APL shares are unchanged late at $32.63.

SD shares are up $0.01 at $6.67 after hours.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: APL , SD

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