Atlas Resource Partners, L.P. Provides Operational and Financial Update, Announces Third Quarter 2013 Earnings Call Date

  Atlas Resource Partners, L.P. Provides Operational and Financial Update,
  Announces Third Quarter 2013 Earnings Call Date

  *Atlas Resource Partners, L.P. (ARP) reached record peak net daily
    production of approximately 275 Mmcfed during the third quarter 2013
  *Raton and Black Warrior Basin assets, acquired in July and representing
    almost 50% of ARP’s net production, are producing at levels higher than
    anticipated at time of acquisition
  *Initial flow rates suggest that newly connected wells in the Marcellus
    Shale rank among the best-producing wells in the United States
  *ARP’s initial Utica Shale wells began producing in the third quarter, with
    initial flow rates yielding significant levels of high grade condensate
  *ARP has identified additional productive zones above and below the oil and
    liquids rich Marble Falls play where the Company has already successfully
    drilled 40 wells
  *ARP provides update to 2013 and 2014 distribution guidance responsive to
    change in operational outlook
  *ARP to host third quarter 2013 earnings conference call on Friday,
    November 8^th

Business Wire

PHILADELPHIA -- October 16, 2013

Atlas Resource Partners, L.P. (NYSE: ARP) (“ARP” or “the Company”) hereby
provides an operational update on its activities, as well as an update to its
oil & natural gas hedge positions and financial outlook for the remainder of
2013 and full year 2014. The Company also plans to release results for the
third quarter 2013 on Thursday, November 7, 2013 after market hours, and
invites investors and other interested parties to listen to the live webcast
of its quarterly conference call on Friday, November 8, 2013, at 9:00 am ET.

Operations Update

ARP continued to develop its oil & gas properties in the third quarter 2013,
further expanding several key operating areas.

Edward E. Cohen, Chief Executive Officer, commented, “Our well results in
recent months have been exhilarating. But we are not immune from adverse
outside phenomena --- natural disasters, third-party delays in providing
infrastructure, reductions in forward “strip” prices, and so forth. Achieving
or exceeding the upper end of our new guidance range of $2.60 in 2014 depends
largely on performing in line with or better than analysts’ expectations in
our operating areas, in syndication achievements, and in new growth
opportunities. We’ve often done it before, and I’m confident that we’ll do it
again.”

Matthew A. Jones, President, added, “Few would have anticipated the scale of
our growth during the first 18 months of ARP’s existence --- a short time
during which we have expanded our proved reserves by over 700% while
increasing distributions to our unitholders by a peer-leading 40%. We believe
that we will continue to accelerate growth in 2014 and beyond.”

  *During the third quarter 2013, ARP connected eight horizontal Marcellus
    Shale wells located in Lycoming County, PA, which demonstrated
    exceptionally strong initial flow rates. Despite limitations of
    infrastructure that have inhibited operation at full capacity, total gross
    daily production from the eight wells reached maximum pipeline capacity of
    approximately 62 Mmcfd. The characteristics of these well sites are highly
    favorable compared to other wells in the region due to: the thickness and
    depth of the shale in the area, level of porosity (~10-14%), permeability
    (up to 400 nD), TOC (up to 6%), and a high pressure gradient (~0.89
    psi/ft). Nonetheless, ARP has experienced substantially lower than
    expected natural gas revenues from these wells due to weakness in
    Transco-Leidy Line pricing.
  *In September 2013, ARP began connecting its five initial wells drilled in
    the Utica-Point Pleasant formation in northern Harrison County, OH. Early
    results indicated higher levels of high-grade condensate than originally
    expected. ARP had previously secured capacity to several processing plants
    in the area, namely the Natrium and Hastings plants via Blue Racer
    Midstream’s gathering system. A major fire occurred at the Natrium
    processing plant on September 21^st, causing the plant to shut down and,
    subsequently, forcing ARP to temporarily shut in the Harrison County
    wells. ARP has successfully made arrangements in the interim to send a
    portion of the Harrison County production to other plants, and several of
    the wells have been brought back online at limited production. ARP is in
    the process of identifying additional third-party capacity in order to
    optimize production.
  *ARP has drilled approximately 40 wells to date in the oil and liquids rich
    Marble Falls play, primarily in Jack County, TX in which the Company holds
    approximately 75,000 net acres. ARP has now identified additional
    productive zones located above and below the Marble Falls play, including
    the Caddo formation, Bend conglomerates and Chappel Reefs. Early testing
    of these formations has yielded initial production rates of 100-300
    barrels of oil per day. Additional 3-D seismic is being undertaken to
    further develop these formations in conjunction with the Marble Falls.
  *ARP continues to experience favorable results from approximately 466
    billion cubic feet (“Bcf”) of proved reserves in the Raton (NM), Black
    Warrior (AL) and County Line (WY) basins, which were purchased from EP
    Energy in July 2013. To date, the assets have been producing at rates
    higher than the Company’s forecasted expectations. ARP has also identified
    a number of high-returning work over opportunities on Raton and Black
    Warrior locations that are expected to be completed over the coming year.

Current Hedge Positions

ARP continues to manage its exposure to oil & gas prices using financial
derivatives, primarily through swaps and costless collars. The Company is
presently hedged over 80% of expected 2014 natural gas volumes, and
approximately 75% of expected 2014 oil volumes. A schedule summarizing ARP’s
current hedge positions is provided at the end of this release.

Financial Outlook

As described above, during the third quarter 2013, ARP connected its first
wells in the Utica Shale in eastern Ohio and in the Marcellus Shale in
northeastern Pennsylvania. Although the results from these wells have been
exceptionally strong, the Company’s revenues from northeastern Pennsylvania
have been adversely affected by substantial, but expected to be temporary,
natural gas price disruption on the Transco Leidy Line, and by the recent fire
at Dominion’s Natrium processing facility. In addition, although the Company
is heavily hedged, forward NYMEX strip prices for natural gas and natural gas
liquids (NGL) have been lower in the third and fourth quarters of 2013 than
anticipated in ARP’s initial guidance. Accordingly, ARP expects to distribute
between $0.56 and $0.57 per unit for the third quarter 2013 and between $0.58
and $0.62 per unit for the fourth quarter 2013. Based on the midpoint of the
fourth quarter guidance range, this represents a 25% increase from the fourth
quarter 2012 distribution, and a 50% increase from the Company’s initial full
quarterly distribution in July 2012.

ARP is also updating its full year 2014 per unit distribution guidance to a
range of $2.40 to $2.60 per unit, representing growth of approximately 10% to
20% compared to the current 2013 distribution forecast. This change is largely
due to a more modest outlook for natural gas and NGL commodity prices between
our last guidance and the present time, which are based upon NYMEX forward
prices. In addition, ARP’s present forecast reflects its current expectation
of the timing of shared general and administrative expenses between the
Company and another subsidiary, sponsored by ARP’s parent, Atlas Energy, L.P,
which will be active in exploration and production. Note that forecasted
distribution amounts do not incorporate any future acquisitions of producing
oil & gas properties, and all distribution amounts are subject to board
approval.

These forecasted distribution amounts above set forth management’s best
estimates based on current and anticipated market conditions and other
factors. While we believe these estimates and assumptions are reasonable, they
are inherently uncertain and subject to, among other things, various
assumptions, including among others, ARP’s expected future production levels
and operating costs in various basins in which ARP operates, the timing and
amount of funds raised and deployed from ARP’s syndicated partnership
business, ARP’s ability to hedge commodity prices, its ability to access the
capital markets to finance future capital expenditures and acquisitions, and
its assumptions regarding required maintenance capital expenditure levels, as
well as other risks and uncertainties that could cause actual distributions to
differ materially from what we have forecasted, as set forth under “Cautionary
Note Regarding Forward-Looking Statements” below.

The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law. In light of these risks and
uncertainties, the forward-looking events and circumstances discussed in this
press release might not occur and actual results, performance or achievement
could differ materially from that anticipated or implied in the
forward-looking statements.

Third Quarter 2013 Conference Call Details

The third quarter 2013 earnings conference call is being webcast live on
Friday, November 8, 2013 at 9:00 a.m. ET and can be accessed by investors and
other interested parties from the Investor Relations section of Atlas Resource
Partners’ website at www.atlasresourcepartners.com. For those unavailable to
listen to the live broadcast, the replay of the webcast will be available
following the live call on the website and telephonically beginning at 11:00
a.m. ET on Friday, November 8, 2013 by dialing 888-286-8010, passcode:
71563674.

Atlas Resource Partners, L.P. (NYSE: ARP) is an exploration & production
master limited partnership which owns an interest in over 12,000 producing
natural gas and oil wells, located primarily in Appalachia, the Barnett Shale
(TX), the Raton Basin (NM) and Black Warrior Basin (AL). 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 37% 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 6% 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; ARP’s ability to realize the anticipated
benefits of the recent acquisition; changes in commodity prices; changes in
estimates of maintenance capital expenses; changes in the costs and results of
drilling operations; uncertainties about 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; external circumstances forcing changes to production levels on
ARP’s systems; 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.
Hedge Position Summary
(as of September 30, 2013)

Natural Gas

Fixed Price Swaps
                     Average
Production Period    Fixed Price       Volumes
Ended December 31,   (per mmbtu)^(a)   (mmbtus)^(a)
2013     ^(b)       $      3.91           15,597,417
2014                 $      4.15           60,152,976
2015                 $      4.24           50,274,492
2016                 $      4.32           43,946,320
2017                 $      4.53           24,840,000
2018                 $      4.72           3,960,000
                                                       
Costless Collars
                     Average           Average
Production Period    Floor Price       Ceiling Price     Volumes
Ended December 31,   (per mmbtu)^(a)   (per mmbtu)^(a)   (mmbtus)^(a)
2013     ^(b)       $      4.40       $   5.44          1,380,000
2014                 $      4.22       $   5.12          3,840,000
2015                 $      4.23       $   5.13          3,480,000

                                              
Natural Gas Liquids

Crude Oil Fixed Price Swaps
                                 Average
Production Period                Fixed Price     Volumes
Ended December 31,               (per bbl)^(a)   (bbls)^(a)
2013         ^(b)                $    93.66      27,000
2014                             $    91.57      105,000
2015                             $    88.55      96,000
2016                             $    85.65      84,000
2017                             $    83.78      60,000


Mt Belvieu Ethane Purity Swaps
                                 Average
Production Period                Fixed Price     Volumes
Ended December 31,               (per gallon)    (bbls)^(a)
                                                 
2014                             $    0.3025     60,000
                                                 
                                                 
Mt Belvieu Propane Swaps
                                 Average
Production Period                Fixed Price     Volumes (bbls)
Ended December 31,               (per gallon)    
2013         ^(b)                $    1.0835     69,000
2014                             $    0.9960     276,000

                                  
Crude Oil
                                     
Fixed Price Swaps
                     Average
Production Period    Fixed Price     Volumes
Ended December 31,   (per bbl)^(a)   (bbls)^(a)
2013     ^(b)        $     93.74     127,650
2014                 $     92.67     552,000
2015                 $     88.14     567,000
2016                 $     85.52     225,000
2017                 $     83.30     132,000
                                                   
Costless Collars
                     Average         Average
Production Period    Floor Price     Ceiling Price   Volumes
Ended December 31,   (per bbl)^(a)   (per bbl)^(a)   (bbls)^(a)
2013     ^(b)        $     90.00     $    116.40     15,000
2014                 $     84.17     $    113.31     41,160
2015                 $     83.85     $    110.65     29,250
                             

    
^(a)   “mmbtu” represents million metric British thermal units.; “bbl”
       represents barrel.
^(b)   Reflects hedges covering the last three months of 2013.

Contact:

Atlas Resource Partners, L.P.
Brian Begley
Vice President - Investor Relations
877-280-2857
215-405-2718 (fax)
 
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