Pioneer Expands Commitment to Atlas' Permian Ops; Will Build New Facility
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Atlas Pipeline Partners, L.P. and Pioneer Natural Resources have entered into an agreement to substantially expand Pioneer's commitment to APL in the burgeoning Permian Basin of West Texas.
The amendment extends the contractual term for an additional 10 years (through 2032) and extends the area of mutual interest in Martin and Andrews Counties in the rapidly-developing northern part of the Basin. Responsive to the accelerating pace of activity in this portion of the play, APL will immediately undertake the construction of a new incremental 200 MMCFD cryogenic processing facility in the northern part of the Permian, scheduled to enter service in the second half of 2015. The Pioneer extension is under similar contract terms as the existing contract.
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