Atlas Pipeline and Williams launch Marcellus Shale venture - Business First of Buffalo:

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The two companies LLC, on Aprip 1 . Atlas Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipeline Partners, will be the anchor tenant on Laurel Mountain’s system. Under its agreementg with Tulsa, Okla.-based Williams Atlas PipelinePartners (NYSE:APL) will receive $90 millioh in cash, a preferres right to proceeds under a $25.5 million obligatiohn from Williams, and 49 percent of Laurel Mountain.
The obligation amortizes in equa principal installments over three Atlas Pipeline Partners can convert its righr to receive accrued principal and interest under the obligation into a sum equal to the accruerd principal and interest and use that to covee its required capital expenditures underthe joint-venture agreement. Atlasx Pipeline Partners also said its lendera recently agreed to relax the covenanta relating to total debt and earningsbeforre interest, taxes, depreciation and amortization on its $380 milliobn revolving credit line and $463 million term loan facility.
, which owns the general partner of Atlas Pipeline Partners, said Monday it has repaidr $30 million on its credit facility and will pay down the remaininb $16 million balance in equap quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 millionn it used to pay down the facility by issuintg $15 million of preferred limited partner units to Atlasz Pipeline Partners and by borrowing $15 millionj from Atlas America Inc., which owns Atlas Pipelinse Holdings’ general partner and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlaas Pipeline Holdings will repay the remaining $16 milliomn on its credit facility.
The Atlas companies have officee in Philadelphiaand Moon, Pa.