Profile: Atlas Pipeline Partners LP (APL.N)
38.50USD
1 Aug 2013
$0.60 (+1.58%)
$37.90
$38.22
$39.07
$38.21
43,950
100,083
$40.02
$29.56
Atlas Pipeline Partners, L.P. is a provider of natural gas gathering and processing services in the Anadarko and Permian Basins located in the southwestern and mid-continent regions of the United States; a provider of natural gas gathering services in the Appalachian Basin in the northeastern region of the United States and a provider of natural gas liquid (NGL) transportation services in the southwestern region of the United States. Its general partner, Atlas Pipeline Partners GP, LLC (Atlas Pipeline GP), manages its operations and activities through its ownership of its general partner interest. Atlas Pipeline GP is a wholly owned subsidiary of Atlas Energy, L.P, which owned a 10.7% limited partner interest in the Company at December 31, 2011, as well as the 2% general partner interest. The Company conducts its business in the midstream segment of the natural gas industry through two segments: Gathering and Processing and Pipeline Transportation. On February 17, 2011, it sold (the Laurel Mountain Sale) of its 49% non-controlling interest in Laurel Mountain Midstream, LLC joint venture (Laurel Mountain) to Atlas Energy Resources, LLC (Atlas Energy Resources). On May 11, 2011, it acquired a 20% interest in West Texas LPG Pipeline Limited Partnership (WTLPG) from Buckeye Partners, L.P. On December 1, 2012, the Company acquired Cardinal Midstream, LLC. In May 2013, Atlas Pipeline Partners LP acquired the entire share capital of TEAK Midstream LLC from NGP Energy Capital Management LLC.
Gathering and Processing Operations
The Company owns and operate approximately 9,100 miles of intrastate natural gas gathering systems located in Oklahoma, Kansas, Texas and Tennessee. The Company also owns and operates seven natural gas processing plants located in Oklahoma and Texas. Its gathering and processing assets service natural gas regions, including the Permian, Anadarko and Appalachian Basins. Its systems gather natural gas from oil and natural gas wells; process the raw natural gas into residue gas by extracting NGLs and removing impurities; and transport natural gas to interstate and public utility pipelines for delivery to customers. In the aggregate, its gathering and processing systems have approximately 7,400 receipt points, consisting primarily of individual well connections and, secondarily, central delivery points, which are linked to multiple wells. Its gathering systems interconnect with interstate and intrastate pipelines operated by El Paso Natural Gas Company; Enogex LLC, Kinder Morgan Texas Pipeline, Natural Gas Pipeline Company of America, Northern Natural Gas Company, ONEOK Gas Transportation, LLC, Panhandle Eastern Pipe Line Company, LP and Southern Star Central Gas Pipeline, Inc. Its processing facilities are connected to NGL pipelines operated by Enterprise Partners, L.P., ONEOK Hydrocarbon, L.P. and WTLPG.
The Gathering and Processing segment consists of the WestOK, WestTX and Velma operations, which are comprised of natural gas gathering and processing assets servicing drilling activity in the Anadarko and Permian Basins; the natural gas gathering assets located in Tennessee, and the revenues and gain on sale related to its 49% interest in Laurel Mountain. It’s Gathering and Processing operations, own, have interests in and operate seven natural gas processing plants with aggregate capacity of approximately 610 million cubic feet per day, which are connected to approximately 9,000 miles of active natural gas gathering systems located in Oklahoma, Kansas and Texas. In addition, it owns and operates approximately 100 miles of active natural gas gathering systems located in Tennessee. Its gathering systems gather gas from wells and central delivery points and deliver to natural gas processing plants, as well as third-party pipelines.
The Company’s Gathering and Processing operations are all located in or near areas of natural gas production, including the Golden Trend, Woodford Shale, Hugoton field in the Anadarko Basin and the Spraberry Trend, which is an oil play with associated natural gas in the Permian Basin. Its gathering systems are connected to approximately 7,400 central delivery points or wells.The Company provides gathering and processing services to the wells connected to its systems, primarily under long-term contracts.
The WestOK gathering system is located in north central Oklahoma and southern Kansas’ Anadarko Basin. The gathering system has approximately 4,700 miles of active natural gas gathering pipelines with approximately 3,700 receipt points. The primary producers on the WestOK gathering system include Chesapeake Energy Corporation; SandRidge Exploration and Production, LLC; and Bluestem Marketing, LLC. The WestTX gathering system, which we operate, and in which it has an approximate 72.8% ownership, has approximately 3,100 miles of active natural gas gathering pipelines and approximately 2,900 receipt points located across seven counties within the Permian Basin in West Texas. Pioneer Natural Resources Company (Pioneer), an active driller in the Spraberry Trend and a producer in the Permian Basin, owns the remaining interest in the WestTX system. The primary producers on the WestTX gathering system include Pioneer, COG Operating, LLC and Endeavor Energy Resources, LP. The Velma gathering system is located in the Golden Trend and near the Woodford Shale areas of southern Oklahoma. The gathering system has approximately 1,200 miles of active pipelines with approximately 600 receipt points consisting primarily of individual well connections and, secondarily, central delivery points, which are linked to multiple wells. The primary producers on the Velma gathering system include Chesapeake Energy Corporation, Range Resources Corporation and XTO Energy, Inc.
The Velma gathering system is located in the Golden Trend and near the Woodford Shale areas of southern Oklahoma. The gathering system has approximately 1,200 miles of active pipelines with approximately 600 receipt points consisting primarily of individual well connections and, secondarily, central delivery points, which are linked to multiple wells. The primary producers on the Velma gathering system include Chesapeake Energy Corporation, Range Resources Corporation and XTO Energy, Inc. The Company sells its NGL production to ONEOK Hydrocarbon, L.P. under three separate agreements. The WestTX agreement has a term expiring in 2013; the WestOK agreement has a term expiring in 2014, and the Velma agreement has a term expiring at the end of 2016. The Company has signed agreements with DCP NGL Services, LLC (DCP), a subsidiary of DCP Midstream, LLC, to sell its NGL production from each of its processing facilities upon the expiration of each of the ONEOK Hydrocarbon, L.P. agreements.
The Company competes with Carrera Gas Company, Copano Energy, LLC, Crosstex Energy Services, DCP Midstream, LLC, Enogex, LLC, Hiland Partners, L.P., Lumen Midstream Partners, LLC, Mustang Fuel Corporation; ONEOK Field Services Company, SemGas, L.P., Southern Union Company, Superior Pipeline Company, LLC, Targa Resources Partners and West Texas Gas, Inc.
Pipeline Transportation Operations
The Company’s Pipeline Transportation operations consist of a 20% interest in WTLPG. WTLPG owns an approximately 2,200 mile common-carrier pipeline system that transports NGLs from New Mexico and Texas to Mont Belvieu, Texas for fractionation. WTLPG is operated by Chevron Pipeline Company, an affiliate of Chevron, which owns the remaining 80% interest.
The Company competes with Enterprise Partners, L.P., Lonestar NGL, LLC and ONEOK Partners, L.P.
Company Address
Atlas Pipeline Partners LP
Park Place Corporate Center One
4th Floor, 1000 Commerce Drive
PITTSBURGH PA 15275-1011
P: +1412.4890006
F: +1412.2622820
Company Web Links
| Name | Compensation |
|---|---|
Edward Cohen |
5,105,170 |
Eugene Dubay |
5,938,790 |
Jonathan Cohen |
5,129,930 |
Robert Karlovich |
1,734,600 |
Patrick McDonie |
3,846,770 |

