Martin Midstream Partners acquires Atlas Pipeline Partners subsidiaries

June 4, 2014 By    

Martin Midstream Partners closed on a previously announced acquisition of Atlas Pipeline NGL Holdings and Atlas Pipeline NGL Holdings II. Holdings owns a 20 percent limited partnership interest and a 0.2 percent general partnership interest in West Texas LPG Pipeline LP (WTLPG). The pipeline is operated by Chevron Pipe Line Co., which owns the remaining 80 percent interest.

WTLPG owns a common carrier natural gas liquids (NGL) transportation pipeline system originating in the Permian Basin, continuing across North Texas and through East Texas, with delivery to Mont Belvieu, Texas, for fractionation. In addition, the WTLPG system offers shippers access to several other connections, including the Cajun-Sibon interstate pipeline in Southeast Texas. The WTLPG system features numerous receipt points, including natural gas processing plants, truck-loading facilities and NGL pipelines across multiple production basins. WTLPG owns about 2,300 miles of pipeline, with long-haul capacity of about 240,000 barrels per day and volumes that have been at or near capacity since 2011.

The transaction marks Martin Midstream’s first significant investment tied to the growing Permian Basin, according to a press release.

Comments are currently closed.