Atlas Energy, L.P. Announces Atlas Pipeline’s Acquisition of Eagle Ford Midstream Business for $1 Billion

PHILADELPHIA--(BUSINESS WIRE)--Atlas Energy, L.P. (NYSE: ATLS) (“Atlas Energy” or “ATLS”) announced today that its midstream subsidiary, Atlas Pipeline Partners, L.P. (NYSE: APL) has executed a definitive agreement to acquire 100% of the equity interests of TEAK Midstream, L.L.C. (“TEAK”), a privately owned midstream operator, for $1 billion in cash. TEAK is a natural gas gathering and processing company with assets in the core of the Eagle Ford Shale in south Texas, one of the most highly prolific oil & gas basins in the U.S. The transaction is expected to close in the second quarter 2013, subject to customary closing conditions.