Producing formations in the Anadarko Basin associated with these assets include the highly prolific Granite Wash and Hogshooter formations, and multiple other liquids-rich zones.
Atlas Energy expects to receive an additional $25 million to $40 million of annual distributable cash flow as the acquired assets grow and mature in the future.
The combination of Crestwood and Inergy will create a diverse platform of midstream assets providing broad-ranging services in the premier shale plays in North America.
The assets include a 200 million cubic feet (MMcf) per day cryogenic processing plant, 265 miles of high pressure gas gathering lines, and a second 200 MMcf per day cryogenic processing plant.
Under the terms of the deal announced earlier this week, Copano unitholders will receive 0.4563 KMP units for each of their Copano unit, a value of about $40.91 per Copano common unit.
Strat Land also has 100% working interest and 78% revenue interest in three new vertical producing wells, which have an average production of 23 barrels of oil per day.
He added that the two most important assets in the acquisition were the two pipeline systems along with a 20-year contract with Antero Resources for its more than 130,000 net acres in the play.
Houston-based Crestwood Midstream announced on Jan. 8 that it had purchased the remaining 65% of Marcellus midstream assets from its general partner for $258 million.
Tradition is focused on emerging shale plays in Texas, Oklahoma and Louisiana, including the Eagle Ford, Eaglebine, Mississippi Lime and Tuscaloosa Marine formations.
In addition, Martin has sold some of its assets to Martin Energy Services LLC, a subsidiary of its general partner, Martin Resource Management Corp., also for an undisclosed amount.