Atlas Pipeline Partners Retains Citigroup Global Markets
To Sell Its Interest In West Texas LPG Pipeline Limited Partnership
Atlas Pipeline Partners, L.P. (NYSE: APL) (“APL”, “Atlas Pipeline”, or the “Partnership”) announced today that it has retained Citigroup Global Markets Inc. to begin a strategic review of its ownership interest in the West Texas LPG Pipeline Limited Partnership (“WTXLPG”).
To the extent that Atlas Pipeline executes any transaction, the potential proceeds will be used to fund part of its significant growth opportunities in its core operating areas.
WTXLPG owns a 2,295 mile common carrier y-grade natural gas liquids pipeline operated by a subsidiary of Chevron Corporation. Atlas Pipeline owns a 20% interest in WTXLPG. The pipeline receives natural gas liquids from multiple receipt points in the Permian Basin and Barnett Shale in Texas and transports volumes to Mont Belvieu, TX for fractionation.