Atlas Pipeline Partners LP (APL)
Barclays CEO Energy/Power Conference Call
September 04, 2012, 04:25 pm ET
Trey Karlovich - CFO
Helen Ryoo - Barclays
Helen Ryoo - Barclays
Good afternoon. I am Helen Ryoo, MLP analyst at Barclays last, but not least our final presenting company for the day is Atlas Pipeline Partners. It's my pleasure to introduce Trey Karlovich, Chief Financial Officer.
Thanks, Helen. Sorry, customary forward-looking statement slide. So, Atlas Pipeline Partners, we're a gathering and processing master limited partnership located in the Permian Basin, the Woodford Shale and the Mississippi Lime areas and the Mid-Continent.
We also own a 20% interest in an NGL line in West Texas, West Texas LPG that's operated by Chevron.
So the story about our pipeline. Atlas Pipeline, like I said, is in three very strong producing areas in the Mid-Continent. We set ourselves up to grow this business through significant internal growth capital that we've invested over the past two years. We're in the middle of a 600 million investment program that we spend about approximately 70% on. We've recently completed a new processing facility on two of our plants, we have a third one that will come up in the first quarter of next year.
As you can see, the growth that we've sustained over the past two years is been significant. Distributable cash flow last year increased 62%, our distribution increased this quarter compared to last quarter was a 19% increase. And we are looking to continue to grow that distribution going into next year.
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