Atlas America, Inc. Announces New $270 Million APL Credit Facility.PHILADELPHIA -- Atlas America, Inc.(Nasdaq:ATLS ATLS Advanced Trauma Life Support ATLS Aerial Target Launch Ship )(the "Company") announces today that Atlas Pipeline Partners, L.P. (NYSE NYSE See: New York Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ), of which the Company owns 100% of the general partner and 1,641,026 limited partner units, has entered into a new $270 million credit facility which replaces its existing $135 million facility. Wachovia Capital Markets, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities LLC, are Co-Lead Arrangers. The bank group consists of the twelve banks that participated in the prior credit facility plus five new participants. The five year facility is comprised of a $225 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. and a $45 million five year term loan. The Partnership immediately drew down $249.5 million which was used to refinance the existing $54 million outstanding on the prior $135 million facility and to finance the acquisition of ETC ETC - ExTendible Compiler. Fortran-like, macro extendible. "ETC - An Extendible Macro-Based Compiler", B.N. Dickman, Proc SJCC 38 (1971). Oklahoma Pipeline, Ltd. including related transaction costs. Atlas America, Inc. is an energy company engaged primarily in the development, production and transportation of natural gas in the Appalachian Basin, and operates primarily in eastern Ohio and western Pennsylvania. ATLS is the owner of 100% of the general partner of Atlas Pipeline Partners, L.P. (NYSE:APL) and owns 1,641,026 common units of limited partner interest. Prior to the Elk City system acquisition, APL owns and operates more than 1,440 miles of natural gas gathering pipelines in western Pennsylvania, western New York
Western New York refers to the westernmost region of New York State. and eastern Ohio and 1,900 miles of gathering pipeline in southern Oklahoma and northern Texas, as well as a gas processing facility in Velma, Oklahoma. For more information, please visit our website at www.atlasamerica.com, or contact investor relations at pschreiber@atlasamerica.com. Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of many factors, including competition within the energy industry, climactic conditions, volatility in the price of gas in the Appalachian and mid-continent area, actual versus projected drilling activity, volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry and the other factors disclosed under "risk factors" in our most recent 10-K and Prospectus Supplement dated April 8, 2004. |
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