Atlas Pipeline Partners Q3 Loss Widens

(RTTNews) - Atlas Pipeline Partners, L.P. (APL) Monday reported third quarter net loss attributable to common limited partners and the general partner of $47.53 million or $0.66 per unit, compared to a loss of $7.87 million or $0.17 per unit in the year-ago quarter.

Quarterly total revenues rose to $557.87 million from $277.57 million in the year-ago quarter.

Total costs and expenses grew to $582.37 million from $285.35 million in the previous year.

Analysts poled by Thomson Reuters expected the company to earn $0.28 per share on revenue of $550.09 million for the quarter. Analysts' estimates typically exclude special items.

Distributable Cash Flow for the quarter was $50.6 million, a 34.6% increase year-over-year

On October 24, 2013, the Partnership declared a cash distribution for the third quarter of 2013 of $0.62 per common limited partner unit to holders of record on November 7, 2013, which will be paid on November 14, 2013.

The company reported quarterly gathered gas volumes of approximately 1.5 billion cubic feet per day.

The company stated that the new growth projects announced in Woodford Shale and Permian Basin and the three new processing plants due in 2014