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Atlas Resource Partners LP Agrees To Buy $733 Million In Natural Gas Reserves From EP Energy LLC; Announces Distribution For Fiscal 2014-DJ


Monday, 10 Jun 2013 07:24am EDT 

Dow Jones reported that Atlas Resource Partners L.P. (ARP) has agreed to buy 466 billion cubic feet of natural gas proved reserves from EP Energy LLC for $733 million. The reserves are located in the Raton Basin in New Mexico and Black Warrior Basin in Alabama. In addition, parent company Atlas Energy LP (ATLS) will buy about 45 Bcf of natural gas proved reserves in the Arkoma Basin in southeastern Oklahoma from EP Energy for roughly $67 million. The transaction is expected to close in the third quarter. Atlas Energy offered fiscal 2014 distribution guidance of $2.50 to $2.80 a unit, more than double the most recent annualized distribution of $1.24. 

Company Quote

11.58
0.32 +2.84%
19 Dec 2014