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Stock Market & Financial Investment News

News Breaks
February 14, 2014
09:04 EDTGMET, ARPAtlas Resource acquires natural gas production in West Virginia for $107M
Atlas Resource Partners (ARP) announced that it has entered into a definitive agreement to acquire approximately 70 Bcfe of natural gas proved reserves in West Virginia and Virginia from GeoMet (GMET) and certain of its subsidiaries for $107M with an effective date of January 1, 2014. The acquisition is expected to be immediately accretive to ARPís distributable cash flow per unit. The purchase price is subject to customary adjustments to implement the effective date. The transaction is subject to, among other items, approval from GeoMetís stockholders. ARP expects to benefit from the mature, low-decline production from the acquired assets. The company said it expects approximately 70 Bcfe of proved reserves in West Virginia and Virginia, 100% natural gas and proved developed, current net production of approximately 22M cubic feet equivalents per day from over 400 active wells, current expected decline rate of approximately 10-12%, current production costs, lease operating costs of approximately $1.20/mcf; production and ad valorem taxes of approximately 10% and transportation and gathering of approximately $0.40/mcf.
News For ARP;GMET From The Last 14 Days
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March 2, 2015
07:22 EDTARPAtlas Resource Partners now sees FY15 cash distributions of $1.30 per unit
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07:20 EDTARPAtlas Resource Partners reports Q4 EPS ($7.06), may not compare to consensus 8c
Reports Q4 revenue $190.8M, consensus $283.64M. On a GAAP basis, net loss was $580.8M for Q4 compared with net income of $1.1M for Q3 and a net loss of $40.0M for the prior year comparable period. The net loss for Q4 was principally generated by non-cash expenses, specifically depreciation and amortization and an asset impairment charge on certain oil and gas properties due to recent declines in forward commodity prices. President Matthew Jones said, "Our business experienced yet another year of substantial growth and development. We believe that our diversified oil & gas asset base, cash flow from both our production and partnership management business, and the financial actions we have recently taken will allow us to add stability in the current environment."
February 23, 2015
08:35 EDTARPAtlas Energy subsidiary sees annualized cash distribution to be 70c-80c per unit
Atlas Energy Group, a wholly-owned subsidiary of Atlas Energy, announced that it currently expects annualized cash distributions to be 70c to 80c per common limited partner unit based on initial expectations of cash flow to its business. The current forecast includes, among other items, approximately $37.5M of cash distributions expected to be received from Atlas Resource Partners (ARP) from AEG's ownership of ARP's general partner and approximately 24.7M ARP limited partner units, and is based on ARP's current annualized distribution of $1.30 per unit.

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