Key Developments: Atlas Resource Partners LP (ARP)
24.13USD
17 May 2013
$0.10 (+0.42%)
$24.03
$24.02
$24.14
$23.82
85,413
136,469
$28.23
$21.23
Latest Key Developments (Source: Significant Developments)
Atlas Resource Partners LP Increases Distribution To $0.51 For First Quarter 2013
Atlas Resource Partners LP announced that it has declared an increased quarterly distribution for the first quarter 2013 of $0.51 per common unit. This $0.51 per common unit distribution represents an approximate 6% increase over the fourth quarter 2012 distribution of $0.48 per common unit. The distribution is payable May 15, 2013 to holders of record as of May 6, 2013. Full Article
Atlas Resource Partners LP Increases Distribution by 12% to $0.48 for Fourth Quarter 2012
Atlas Resource Partners LP announced that it declared an increased quarterly distribution for the fourth quarter 2012 of $0.48 per common unit. This $0.48 per common unit distribution represents an approximate 12% increase over the third quarter 2012 distribution of $0.43 per common unit. The distribution is payable February 14, 2013 to holders of record as of February 6, 2013. Full Article
Atlas Resource Partners LP Announces Closing Of Public Offering Of Common Units
Atlas Resource Partners LP announced that the underwriters of its previously announced public offering of 7,600,000 common units, which had closed on November 27, 2012, have exercised their option to purchase an additional 298,210 common units at a price to the public of $23.01. ARP expects to receive net proceeds from the sale of the option units of approximately $6.6 million. ARP intends to use the net proceeds from this offering to fund a portion of its acquisition of oil & gas producing assets and undeveloped acreage in the Fort Worth Basin (TX) from DTE Energy. Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets acted as joint book-running managers for this offering. Full Article
Atlas Resource Partners LP Completes Acquisition Of DTE Gas Resources, LLC
Atlas Resource Partners LP announced that it has completed its acquisition of DTE Gas Resources, LLC, an affiliate of DTE Energy Company, 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. Citigroup acted as financial advisor, and Jones Day (Houston) and Ledgewood (Philadelphia) acted as legal advisors on the transaction. Full Article
Atlas Resource Partners LP Announces Pricing Of Public Offering Of Common Units
Atlas Resource Partners LP announced that it has priced a public offering of 7,600,000 common units representing limited partner interests at an offering price of $23.01 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 1,140,000 common units. ARP intends to use the net proceeds from this offering to fund a portion of its acquisition of oil and natural gas producing assets and undeveloped acreage in the Fort Worth Basin (TX) from DTE Energy. Prior to funding the pending acquisition, ARP may use some or all of the net proceeds for general partnership purposes, which may include repayment of outstanding borrowings under its revolving credit facility. Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for this offering. Full Article
Atlas Resource Partners LP Announces Public Offering of Common Units
Atlas Resource Partners LP announced that it has commenced an underwritten public offering of 6,800,000 common units representing limited partner interests. Wells Fargo Securities, BofA Merrill Lynch, Deutsche Bank Securities, Citigroup, J.P. Morgan, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for this offering. The underwriters have been granted a 30-day option to purchase up to an additional 1,020,000 common units. ARP intends to use the net proceeds from this offering to fund a portion of its acquisition of oil & gas producing assets and undeveloped acreage in the Fort Worth Basin (TX) from DTE Energy. Prior to funding the pending acquisition, ARP may use some or all of the net proceeds for general partnership purposes, which may include repayment of outstanding borrowings under its revolving credit facility. Full Article
Atlas Resource Partners LP Announces Increased Distribution Of $0.43 Per Common Unit For Third Quarter 2012
Atlas Resource Partners LP announces that it has declared a quarterly distribution for the third quarter 2012 of $0.43 per common unit. This $0.43 per common unit distribution represents a 7.5% increase over the second quarter 2012 distribution of $0.40 per common unit. The distribution is payable November 14, 2012 to holders of record as of November 5, 2012. Full Article
Atlas Resource Partners LP Acquires Northern Oklahoma Assets from Equal Energy, Ltd.
Atlas Resource Partners, L.P. announced that it has entered into and simultaneously closed an agreement with Equal Energy, Ltd. to acquire the following for approximately $40 million: the remaining 50% interest in Equal’s approximately 8,500 net undeveloped acres in the core of the oil & liquids rich Mississippi Lime play in northwestern Oklahoma, approximately 8 Mmcfe/d of net production in the Mississippi Lime region and substantial salt water disposal infrastructure. This transaction increases Atlas’ position in the Mississippi Lime to approximately 19,800 net acres. The transaction is subject to post-closing adjustments and Atlas will finance this transaction with available borrowings under its revolving credit facility. Full Article
Atlas Resource Partners LP Reaffirms H2 2012 And FY 2013 Distribution Guidance
Atlas Resource Partners LP announced that the Company is reconfirming distribution guidance for the second half of 2012 in a range of $0.90-$1.00 per unit, as well as fiscal 2013 distribution guidance in a range of $2.30-$2.45 per unit. Full Article
Atlas Resource Partners LP Closes Acquisition of Titan Operating, L.L.C
Atlas Resource Partners LP announced the completion of its acquisition of Titan Operating, L.L.C., a privately held company based in Fort Worth, Texas. The acquisition was funded through a private placement of approximately 3.8 million ARP common units and approximately 3.8 million newly-created Class B Convertible Preferred ARP units (or approximately $184 million in total equity consideration, based on the ARP closing price of $24.23 on the date of the transaction announcement on May 16, 2012), as well as approximately $15.4 million in cash for closing adjustments. Through the Titan transaction, ARP has acquired approximately 250 Bcfe of proved reserves and associated assets in the Barnett Shale in Texas. This transaction represents ARP’s second acquisition in the Barnett Shale in 2012, establishing a position of approximately 530 Bcfe of total net proved reserves in the region. ARP’s total net proved reserves pro forma for the acquisition are approximately 700 Bcfe, almost four times greater than its original net reserves upon first trading publicly in March 2012. Concurrent with the closing of the transaction, ARP entered into an amendment to increase the borrowing base on its revolving credit facility to $310 million. J.P. Morgan acted as financial advisor, and Jones Day (Houston) and Ledgewood (Philadelphia) acted as legal advisors on the transaction. Full Article
TEXT - S&P rates Atlas Resource Partners LP
Overview -- Independent U.S. oil and gas exploration and production (E&P) company and master limited partnership (MLP) Atlas Resource Partners L.P. (Atlas) is planning to issue $250 million of senior unsecured notes. -- We are assigning a 'B' corporate credit rating to the company. We are assigning a 'B-' issue rating and '5' recovery rating to Atlas' proposed $250 million senior unsecured notes due 2021. -- The stable outlook reflects our expectation that Atlas' leverage will
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