Atlas Energy Group, LLC, through its subsidiary, Atlas Resource Partners, L.P. (ARP), develops and produces natural gas, crude oil and natural gas liquids (NGLs), in the United States. As of December 31, 2015, the company's operations primarily consisted of its ownership interests in 100% of the general partner Class A units, all of the incentive distribution rights, and an approximate 23.3% limited partner interest in ARP, and an independent developer and producer of natural gas, crude oil and NGLs, with operations in basins across the United States. ARP sponsors and manages tax-advantaged investment partnerships (Drilling Partnerships), in which it coinvests, to finance a portion of its natural gas and oil production activities; 80.0% general partner interest and a 2.1% limited partner interest in Atlas Growth Partners, L.P., a partnership that conducts natural gas and oil operations in the mid-continent region of the United States (AGP); and a 15.9% general partner interest and 12.0% limited partner interest in Lightfoot Capital Partners, L.P. (Lightfoot L.P.) and Lightfoot Capital Partners GP, LLC (Lightfoot G.P. and together with Lightfoot L.P., Lightfoot) its general partner, which incubate new MLPs and invest in existing MLPs. As of December 31, 2015, ARP’s estimated proved reserves were 921 billion cubic feet equivalent (Bcfe), including reserves net to ARP’s equity interest in its Drilling Partnerships. Of ARP’s estimated proved reserves, approximately 82% were proved developed and approximately 66% were natural gas. For the year ended December 31, 2015, ARP’s average daily net production was approximately 266.4 million cubic feet of natural gas equivalent (MMcfe). AGP Overview As of December 31, 2015, AGP’s estimated proved reserves were 53.5 Bcfe. Of the estimated proved reserves, approximately 22% were proved developed and approximately 87% were oil. For the year ended December 31, 2015, AGP’s average daily net production was approximately 5.0 MMcfe. Through December 31, 2015, AGP owned production positions in Marble Falls play in the Fort Worth Basin in northern Texas where AGP has ownership interests in approximately 13 wells and 0.1 Bcfe of total proved reserves with average daily production of 0.9 MMcfe for the year ended December 31, 2015; the Eagle Ford Shale in southern Texas where AGP has ownership interests in approximately 10 wells in the Eagle Ford Shale and 53.2 Bcfe of total proved reserves with average daily production of 4.1 MMcfe for the year ended December 31, 2015; and the Mississippi Lime play in northwestern Oklahoma where AGP has ownership interests in approximately 2 wells and 0.2 Bcfe of total proved reserves with average daily production of 0.1 MMcfe for the year ended December 31, 2015. Lightfoot Overview Lightfoot is a private investment vehicle that focuses on investing directly in master limited partnership-qualifying businesses and assets. Lightfoot investors include affiliates of, and funds under management by, GE EFS, the company, BlackRock Investment Management, LLC, Magnetar Financial LLC, CorEnergy Infrastructure Trust, Inc. and Triangle Peak Partners Private Equity, LP. As of December 31, 2015, the company owns an approximate 15.9% interest in Lightfoot’s general partner and a 12.0% interest in Lightfoot’s limited partner. Direct Natural Gas and Oil Production Overview In 2013, Atlas Energy completed the acquisition of certain natural gas and oil producing assets in the Arkoma Basin from EP Energy. In June, 2015, ARP completed the acquisition of these assets. Subsequent Events First Lien Credit Agreement Amendment-In March, 2016, the company and New Atlas Holdings, LLC (the Borrower) and Atlas Lightfoot, LLC, entered into a third amendment (the Third Amendment) to that certain Credit Agreement with Riverstone Credit Partners, L.P., as administrative agent (Riverstone), and the lenders (the Lenders) from time to time party thereto (the First Lien Credit Agreement). Second Lien Credit Agreement-In March, 2016, the company and the Borrower entered into a new second lien credit agreement (the Second Lien Credit Agreement) with Riverstone and the Lenders. History Atlas Energy Group, LLC was founded in 2011.
atlas energy group llc (ATLS:OTC US)
Park Place Corporate Center One
1000 Commerce Drive
Pittsburgh, PA 15275
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