Cases & Deals

Atlas Pipeline Partners forms Marcellus Shale Pipeline joint venture with Williams Companies

Client(s) Atlas Pipeline Partners

Jones Day advised Atlas Pipeline Partners (NYSE: APL) in its transaction with Williams Field Services Group, LLC, a subsidiary of The Williams Companies, Inc. (NYSE: WMB) to form Laurel Mountain Midstream, LLC. As a result of the transaction, LMM will own and operate all of APL's northern Appalachian midstream assets, which include natural gas gathering and processing infrastructure in the dynamic Marcellus Shale region of southwestern Pennsylvania. The transaction, which is structured as an asset swap, will result in a joint venture with an enterprise value of $250 million. The joint venture system will be utilized by APL's affiliate, Atlas Energy Resources, LLC (NYSE: ATN) as an anchor shipper, as well as other third party producers in the Marcellus Shale.

In addition to M&A representation, Jones Day provided antitrust, employee benefits, financing, environmental, and tax advice regarding this transaction.