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Atlas Pipeline Acquires Cardinal Midstream LLC

Atlas Pipeline Partners Lp Cardinal Midstream
AnnouncedDec 3, 2012
TypeAsset
LocationWoodford Shale,Cana - Woodford Shale
Announced Date
December 03,2012
Transaction Type
Asset




Snapshot
Location
Region
Mid-Continent

Country
United States

State
Oklahoma

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Atlas Pipeline Partners LP has reported that the Partnership has executed a definitive agreement to acquire all equity interests representing all of the operating assets of Cardinal Midstream LLC, a privately owned midstream operator, for $600 million in cash. 

The transaction, which is expected to close by the end of 2012, is subject to certain regulatory approvals, customary closing conditions, and purchase price adjustments. 

As a result of the transaction, the partnership is increasing EBITDA guidance for 2013 by over 20% from $250-300 million to $310-360 million.  The transaction is…



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