Atlas Pipeline Partners, L.P. (APL)
Posted: Mon Jul 22, 2013 10:46 am
APL to build new cryogenic processing plant in the Permian Basin. The Edward plant, which will have an initial 100 MMcf/d capacity when placed into service in 2H 2014, will be expandable to 200 MMcf/d with the installation of additional compression and refrigeration as production behind the system grows. Addition of full capacity at the plant will increase APL’s total WestTX system processing capacity to 655 MMcf/d following the recent placement of the 200 MMcf/d Driver plant into service. APL’s net capital investment for the Edward plant will be $100-120mm (includes both phases of the expansion), with its WestTX partner (producer Pioneer Natural Resources, 27.2% interest) participating in project costs and cash flows and anchoring production underpinning the expansion (augmented by several third-party producer customers). Future capital investment on the project would include compression and well connections to help.
APL's current dividend yield is over 6%.
APL's current dividend yield is over 6%.