Atlas Pipeline to sell $50 million of common units in private placements

By Devika Patel

Knoxville, Tenn., June 18 - Atlas Pipeline Partners, LP will sell $40 million of its common units to Atlas America, Inc., according to an Atlas America press release. In addition, Atlas Pipeline Holdings, LP will buy $10 million of Atlas Pipeline's common units in a private placement.

Proceeds will be used to terminate some crude oil derivatives agreements that are associated with the ethane and propane portion of Atlas Pipeline Partners' natural gas liquids volume.

Based in Moon Township, Pa., Atlas Pipeline Partners is a natural gas pipeline operating company.

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