TEAK Midstream, a Natural Gas Partners portfolio company, has agreed to be acquired by Atlas Pipeline Partners (NYSE: APL) for $1 billion in cash. Citigroup and Wells Fargo have committed bank financing to support the acquisition, which is expected to close in the second quarter of 2013. Based in Dallas, TEAK is a natural gas gathering and processing company with assets in the Eagle Ford Shale in south Texas. Its midstream services include gathering, transmission, processing, compression and price risk management. Natural Gas Partners made a $100 million investment in the company as it was starting up in October 2009.