Atlas Resource Partners, L.P. Completes Acquisition of Barnett Shale and Marble Falls Assets from DTE Energy
PHILADELPHIA--(BUSINESS WIRE)-- Atlas Resource Partners, L.P. (NYS: ARP) ("ARP" or "the Company") announces today that it has completed its acquisition of DTE Gas Resources, LLC, an affiliate of DTE Energy Company (NYS: DTE) , for approximately $255 million. The acquired assets include approximately 35 MMboe of proved reserves and substantial resource potential in the Fort Worth basin in Texas, including approximately 75,000 net acres prospective for the oil and liquids rich Marble Falls play. The transaction represents ARP's fourth acquisition since ARP's creation in March 2012, for a total of approximately $700 million, bringing the Company's net pro forma proved reserves to approximately 900 Bcfe.
Citigroup acted as financial advisor, and Jones Day (Houston) and Ledgewood (Philadelphia) acted as legal advisors on the transaction.
Atlas Resource Partners, L.P. (NYSE: ARP) is an exploration & production master limited partnership which owns an interest in over 10,100 producing natural gas and oil wells, primarily in Appalachia and the Barnett Shale in Texas. ARP is also the largest sponsor of natural gas and oil investment partnerships in the U.S. For more information, please visit our website at www.atlasresourcepartners.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.
Atlas Energy, L.P. (NYSE: ATLS) is a master limited partnership which owns all of the general partner Class A units and incentive distribution rights and an approximate 43% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P. Additionally, Atlas Energy owns and operates the general partner of its midstream oil & gas subsidiary, Atlas Pipeline Partners, L.P., through all of the general partner interest, all the incentive distribution rights and an approximate 11% limited partner interest. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements.ARP cautions readers that any forward-looking information is not a guarantee of future performance.Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, ARP's plans, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in commodity prices; changes in the costs and results of drilling operations; uncertainties about, or inaccuracies in the assumptions underlying, estimates of reserves and resource potential; inability to obtain capital needed for operations; ARP's level of indebtedness; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in ARP's reports filed with the U.S. Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Forward-looking statements speak only as of the date hereof, and ARP assumes no obligation to update such statements, except as may be required by applicable law.
Atlas Resource Partners, L.P.
Vice President - Investor Relations
KEYWORDS: United States North America Pennsylvania Texas
The article Atlas Resource Partners, L.P. Completes Acquisition of Barnett Shale and Marble Falls Assets from DTE Energy originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.