Atlas Pipeline Reports Full Year 2013 Results

Source: www.gulfoilandgas.com 2/17/2014, Location: North America

Operating Results

SouthTX System
The SouthTX system in the Eagle Ford shale has a total gross name-plate processing capacity of 200 MMCFD with the Silver Oak I plant, and will have name-plate capacity of 400 MMCFD once the Silver Oak II plant goes into service, which is expected to be early in the second quarter of 2014. The system had average natural gas processed volumes of 133.2 MMCFD and produced 17,083 BPD of NGLs during the fourth quarter of 2013. The reported processed volumes includes the impact of interruptible volumes coming off the system during the quarter, which otherwise would have contributed to a higher reported volume figure.

During the fourth quarter of 2013 and early 2014, Atlas Pipeline has contracted nine new producers in the Eagle Ford shale and some other contracts are in final review. These opportunities include producers that are some of the largest and most significant operators in the basin. Gathering and processing demand is coming from multiple counties on both the east and west sides of our high pressure gathering system. Management estimates that these recent contracts could result in an incremental 50-65 MMCFD of production once connected to the system, which is anticipated in the second quarter of 2014. These anticipated volumes, along with those acquired in the acquisition, fully support the processing capacity of Silver Oak I. Management anticipates volumes under these new contracts could exceed 90 MMCFD by the end of the year. The commercial opportunity set remains strong in the Eagle Ford, as the Partnership continues to contract Silver Oak II, in anticipation of its' start-up date in the second quarter of 2014.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

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