Targa completes Atlas acquisition

Targa Resources Partners LP completed its acquisition of Atlas Pipeline Partners LP and Atlas Energy LP. According to a press release, Targa acquired Atlas Pipeline Partners for $5.8 billion and Atlas Energy for $1.869 billion.

According to Targa, the acquisitions add a number of assets to its existing Permian, Bakken, Barnett and Louisiana Gulf Coast operations. Targa now has a combined 1.439 billion cubic feet per day of processing capacity and 10,250 miles of pipelines in the Permian Basin.

“The acquisitions will significantly and immediately increase our scale and geographic diversity, accelerating the growth of our premier North American midstream platform,” says Joe Bob Perkins, CEO of Targa Resources, in a press release.