Now in connection with the planned distribution of common units of our newly formed E&P MLP, Atlas Resource Partners, which will trade under the ticker symbol ARP on the New York Stock Exchange starting March 14, Atlas Resource Partners’ Form 10 registration statement was declared effective by the SEC earlier this month. The Form 10 registration statement contains important information about Atlas Research Partners and the planned distribution, including a discussion of risks and uncertainties. All Atlas Energy unitholders of record as of today will receive their proportionate share of common units of Atlas Research Partners on March 13.
In our earnings release, we provide a reconciliation from net income to adjusted EBITDA and distributable cash flow as we believe that these non-GAAP measures offer the best means of evaluating the results of our business. Lastly, Atlas Energy will be participating in several upcoming investor conferences, including the Morgan Stanley MLP Corporate Access Day on March 7 and 8, and the IPAA conference in New York on March 16 through 18.
With that, I’d like to turn the call over to our Chief Executive Officer, Ed Cohen for his remarks. Ed?
Edward CohenHello everyone. First of all, let me assure you that this is no routine quarterly conference report. Today, we celebrate the completion of the reconstruction of Atlas Energy. One year and 10 days ago, after the sale of old Atlas to Chevron, we’re now launching our new E&P subsidiary, Atlas Resource Partners. All holders of ATLS stock as of today’s date will be entitled to receive on March 13 the proportionate share of the 19.6% of Atlas Resource Partners which is being distributed. ATLS will of course retain the remaining 80.4% and will retain all the incentive distribution rights – the so-called IDRs – in Atlas Resource Partners. These IDRs together with Atlas’ general partnership interest progress to a maximum split level of 50%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV