Atlas Pipeline Completes JV With Williams For Marcellus Shale Gathering System

Atlas Pipeline Partners and Williams have formed Laurel Mountain Midstream LLC to expand and develop Atlas’ presence in the southwestern Pennsylvania portion of the Marcellus Shale. APL’s affiliate, Atlas Energy Resources LLC will be the anchor tenant on the system.

Atlas Pipeline will receive approximately $90 million in cash, a preferred equity right to proceeds under a $25.5 million obligation from Williams, and a 49% equity interest in Laurel Mountain.