Atlas Pipeline and Williams launch Marcellus Shale venture - Dayton Business Journal:

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The two companies LLC, on Aprik 1 . Atlas Energy Resourcesz LLC (NYSE:ATN), an affiliate of Atlase Pipeline Partners, will be the anchor tenantg onLaurel Mountain’s Under its agreement with Tulsa, Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partnerxs (NYSE:APL) will receive $90 millionh in cash, a preferred right to proceedas under a $25.5 million obligation from Williams, and 49 percent of Laurel Mountain.
The obligation amortizeas in equal principal installments over three Atlas Pipeline Partners can converf its right to receive accrued principal and interest under the obligation into a sum equao to the accrued principal and interest and use that to covetr its required capital expenditures underthe joint-venturs agreement. Atlas Pipeline Partners also said its lenders recentlh agreed to relax the covenants relatingv to total debt and earningsbeforer interest, taxes, depreciation and amortization on its $380 millionm revolving credit line and $463 million term loan facility.
Additionally, , which owns the generap partner of AtlasPipeline Partners, said Monday it has repaid $30 million on its credi facility and will pay down the remaininh $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliohn it used to pay down the facility by issuingb $15 million of preferred limited partner units to Atlads Pipeline Partners and by borrowing $15 milliom from Atlas America Inc., which owns Atlas Pipeline Holdings’ general partner and 64 percent of its commomn units.
Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipelinwe Holdings will repay theremaining $16 million on its credit The Atlas companies have offices in Philadelphia and Moon, Pa.