Atlas Resource Partners, L.P. operates as an independent developer and producer of natural gas, crude oil, and natural gas liquids in the United States. The company operates in three segments: Gas and Oil Production, Well Construction and Completion, and Other Partnership Management. As of May 18, 2015, it owned interest in approximately 14,000 producing natural gas and oil wells located primarily in Appalachia, the Barnett Shale and the Eagle Ford Shale (Texas), the Mississippi Lime (Oklahoma), the Raton Basin (New Mexico), Black Warrior Basin (Alabama), and the Rangely Field (Colorado). The company had estimated proved reserves of 1,429 billion cubic feet equivalent. In addition, it sponso...
Park Place Corporate Center One
1000 Commerce Drive
Pittsburgh, PA 15275
Founded in 2011
Atlas Resource Partners Announces Monthly Distribution for October 2015, Payable on December 15, 2015
Nov 25 15
Atlas Resource Partners, L.P. declared its monthly distribution for the month of October 2015 of $0.0125 per common unit, or $0.15 per unit on an annual basis. The October 2015 distribution is payable on December 15, 2015 to holders of record as of December 8, 2015.
Atlas Energy Group, LLC and Atlas Resource Partners, L.P. Announces Appointment of Matthew Skelly as Vice President of Investor Relations
Nov 23 15
Atlas Energy Group, LLC and Atlas Resource Partners, L.P. announced the appointment of Matthew Skelly as Vice President of Investor Relations of both companies. Mr. Skelly has been with the Atlas companies for over five and a half years, previously serving as the Vice President of Investor Relations for Atlas Pipeline Partners, L.P. beginning in 2010 through its merger with Targa Resources in February 2015. Mr. Skelly previously worked at the investment bank of JPMorgan covering financial institutions with a focus on the bank & thrift sector. Prior to JPMorgan, Mr. Skelly was a senior advisor at Taylor Rafferty, focusing on cross-border investor relations consulting and capital markets intelligence to over 70 non-U.S. public companies. Mr. Skelly earned his Bachelor's degree in Finance & Marketing from the University of South Carolina and his MBA in International Business from the Thunderbird School of Global Management.
Atlas Resource Partners, L.P. Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2015; Announces Asset Impairment for the Third Quarter of 2015
Nov 10 15
Atlas Resource Partners, L.P. announced unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenues of $257,895,000 against $206,699,000 a year ago. Operating loss was $535,300,000 against operating income of $18,554,000 a year ago. Net loss attributable to common limited partners and the general partner was $565,147,000 against $2,590,000 a year ago. Net loss attributable to common limited partners per diluted unit was $5.73 against $0.07 a year ago. Maintenance capital expenditures were $13,456,000 against $22,400,000 a year ago. Total capital expenditures were $32,799,000 against $55,930,000 a year ago. Adjusted EBITDA was $68,108,000 against $86,697,000 a year ago. The increase from the second quarter 2015 was due to higher fee income from ARP's partnership management business, partially offset by higher general and administrative expenses related to the timing of fundraising activities from the current year investment program. Distributable cash flow attributable to limited partners and the general partner was $28,846 $54,981,000 a year ago. Net loss in the current period was principally due to non-cash expenses, specifically an asset impairment charge on certain oil and gas properties due to recent declines in forward commodity prices, partially offset by the mark-to-market gains recognized in the current quarter from ARP’s financial hedge positions.
For the nine months, the company reported total revenues of $597,609,000 against $506,953,000 a year ago. Operating loss was $444,711,000 against operating income of $17,156,000 a year ago. Net loss attributable to common limited partners and the general partner was $532,272,000 against $40,856,000 a year ago. Net loss attributable to common limited partners per diluted unit was $5.74 against $0.67 a year ago. Maintenance capital expenditures were $42,788,000 against $46,300,000 a year ago. Total capital expenditures were $102,290,000 against $150,579,000 a year ago. Adjusted EBITDA was $203,739,000 against $212,324,000 a year ago. Distributable cash flow attributable to limited partners and the general partner was $87,631,000 against $128,038,000 a year ago. Total net debt was $1,502,629.
The company reported asset impairment of $672,246,000 for the third quarter of 2015.
The company reported average net daily production for the third quarter 2015 was 264.2 million cubic feet equivalents per day (Mmcfed), as compared to 270.8 Mmcfed for the second quarter 2015. ARP’s third quarter 2015 production was comprised of 82% natural gas, 11% oil and 7% natural gas liquids (NGL). The company connected two Mississippi Lime wells during the third quarter, and now operates 27 wells in the Eagle Ford shale. ARP is currently connecting additional wells on its Eagle Ford position and expects oil volumes to increase into 2016 as a result of its activity.
For the nine months, the company reported total production of 272,077 Mcfed against 276,406 Mcfed a year ago.