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

fixyruw.wordpress.com
The two companies LLC, on April 1 . Atlas Energu Resources LLC (NYSE:ATN), an affiliate of Atlads Pipeline Partners, will be the anchofr tenant onLaurel Mountain’s system. Undefr its agreement with Tulsa, Okla.-based William (NYSE:WMB), Atlas Pipeline Partners willreceive $90 million in cash, a preferred righy to proceeds under a $25.4 million obligation from Williams, and 49 percent of Laurel Mountain.
The obligation amortizesd in equal principal installments over three Atlas Pipeline Partners can convert its righgt to receive accrued principakl and interest under the obligation into a sum equa l to the accrued principal and interest and use that to cover its requires capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenders recently agreee to relax the covenants relatint to total debt and earningd before interest, taxes, depreciation and amortizatiobn on its $380 million revolvint credit line and $463 million term loan facility.
, which owns the general partnef of Atlas Pipeline said Monday it hasrepaid $30 million on its creditr facility and will pay down the remainingt $16 million balance in equal quarterly installments over the next year. Atlas Pipeline Holdingw (NYSE:AHD) got the $30 million it used to pay down the facilityu byissuing $15 millionj of preferred limited partner units to Atlas Pipelined Partners and by borrowin $15 million from Atlas America Inc., whicuh owns Atlas Pipeline Holdings’ general partner and 64 percenty of its common units. Atlas America also guaranteed that Atlas Pipeline Holdings will repay theremaining $16 million on its credigt facility.
The Atlas companies have offices in Philadelphiwaand Moon, Pa.