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SOURCE Atlas Pipeline Partners, L.P.
PHILADELPHIA, May 1, 2014 /PRNewswire/ -- Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL," "Atlas Pipeline," or the "Partnership") today announced the Partnership has brought into service the Stonewall plant in the Arkoma section of the Woodford Shale, which will add capacity to APL's SouthOK system. The Partnership is also accelerating plans to potentially increase the capacity at Stonewall, given increasing activity by Arkoma Basin and South Central Oklahoma Oil Province (SCOOP) producers.
The Stonewall plant, a new cryogenic processing facility on the SouthOK system, has been brought into start-up operations with an initial processing capacity of 120 MMCFD. The plant is processing liquids today in start-up mode and will be fully operational in the coming days. This plant was constructed under the Centrahoma joint venture, which is a joint venture with MarkWest Energy Partners (NYSE: MWE), in which APL owns 60%.
Due to the increase in activity in Southern Oklahoma, the Partnership is expecting to accelerate the timeframe of the planned 80 MMCFD expansion at the new Stonewall plant, bringing its total processing capacity to 200 MMCFD. This expansion will come through additional refrigeration and compression at the plant and will result in total gross processing capacity of 580 MMCFD on the SouthOK system. The capital required to facilitate this expansion is approximately $8-10 million, net to APL, and will also be constructed by Centrahoma. Additionally, construction is continuing on the project to connect the Velma and Arkoma portions of the SouthOK system, which is expected be complete in September of 2014.
Patrick McDonie, President and Chief Operating Officer of the Partnership commented, "In Southern Oklahoma, we are happy to announce the Stonewall plant is up and running and expect an increased pace of utilization of the incremental processing capacity given the permits filed in the Arkoma section of the Woodford shale and positive views on the emerging SCOOP play near Velma."
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, Texas, and Tennessee, APL owns and operates 15 active gas processing plants, 18 gas treating facilities, as well as approximately 11,200 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, contact IR@atlaspipeline.com.
Atlas Energy, L.P. (NYSE: ATLS) is a master limited partnership which owns all of the general partner Class A units and incentive distribution rights and an approximate 37% limited partner interest 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 all of the general partner interest, all the incentive distribution rights and an approximate 6% limited partner interest. For more information, 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 prices 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, current reports on Form 8-K and annual reports on Form 10-K.
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