Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/atlas-pipeline-partners-closes-on-acquisition-card.shtmlAtlas Pipeline Partners closes on acquisition Cardinal Midstream
Atlas Pipeline Partners, L.P. has closed on its previously announced purchase
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Atlas Pipeline Partners, L.P. has closed on its previously announced purchase of Cardinal Midstream, LLC (Cardinal), a private midstream company. The effective date of the acquisition was December 1, 2012. Final cash consideration for Cardinal totaled $603.4 million, which reflects closing adjustments of $3.4 million to the original announced acquisition price of $600 million.
Eugene Dubay , Chief Executive Officer of the Partnership, commented, "As I mentioned in the initial announcement, we are very excited about this acquisition of Cardinal Midstream. The profile of assets fits very well with our core focus, which is gathering and processing in liquids-rich basins with increasing producer activity, and we believe the additional fee-based cash flows enhances our risk profile. We look forward to integrating the valuable people in the field at our new locations and having these assets contribute to our high expectations for 2013 and beyond."
