Atlas Resource Partners LP To Acquire 277 bcfe Of Proved Reserves In Barnett Shale For $190 Million From Carrizo Oil & Gas, Inc

Atlas Resource Partners LP announced that it has entered into a definitive purchase and sale agreement to acquire approximately 277 bcfe of proved reserves, including undeveloped drilling locations, in the Barnett Shale in Texas from Carrizo Oil & Gas for approximately $190 million, or $0.69 per mcfe. The transaction has been approved by ARP’s board of directors, and will be effective as of January 1, 2012, with an expected closing in late April. Transaction Details: Approximately 277 Bcfe of proved reserves, including 198 gross producing wells on over 12,000 net acres; 99% natural gas; 52% proved developed; Current net production of approximately 36 MMcfe per day; R/P ratio of over 20 years ; Approximately 100 gross PUD and PDNP locations; Lease operating expenses of approximately $0.60 per mcfe.