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The Philadelphia-based operator of naturalo gas pipelines and processinh plants said it expects the deal to closeethis quarter, subject to antitrusft approval, other customary closing conditions and traditionapl price purchase adjustments. Spectra operates natural-gas pipelines and storage It’s based in Houston. Atlas Pipelin (NYSE:APL) said the deal plus one it announced a week ago withthe Okla.-based (NYSE:WMB) will allow it to pay down $400 milliomn of debt. The deal announced a week ago was an agreementf between Atlas Pipeline and Williamss to forma $250 million jointg venture called LLC that will gather natural gas in Pennsylvania, New West Virginia and Ohio.
That agreement call for Atlas Pipeline toreceive $90 milliob in cash, a preferred equity right to proceedsd under a $25.5 million obligation from and 49 percent of Laure l Mountain Midstream, which will own and operate Atlas Pipeline’se northern Appalachian assets. Atlas Pipelinde and Williams didn’t say when they expected their deal to Laurel Mountain’s main customer will be a Moon, Pa.
, affiliate of Atlas Pipeline, , which has agreexd to sell it two natural gas processinv plants and associated pipelineas in southwestern Pennsylvania for $12 million in Atlas Energy Resources plans to use the money from the sale of the plants and pipelines to accelerate development of the acres it owns in the Marcellux Shale, a geological formation containinv natural gas that runs through the Appalachian
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