Just as with Atlas’ pipeline where we are enjoying a crescendo of growth in distribution through our IDRs and from our common units, the ownership of incentive distribution rights – these IDRs – in Atlas Resource Partners will become increasingly more valuable when and as the distributable cash flow of Atlas Resource Partners increases in the future. Most importantly, such gains at APL and at ARP will occur without ATLS shareholders themselves suffering any dilution through the issuance of new shares and without ATLS itself borrowing any monies.Now, you may remember that in an October call, we had set forth our expectations for the new ARP and the benefits that we thought it would bring to its own unitholders and to ATLS’ unitholders. All this is on the verge of being realized. I know that some observers thought that we were being overly optimistic in suggesting that we could move within three to four months from concept to reality, but the SEC has been quite efficient and our Form 10 filing was declared effective on February 14. We are now in a position to reaffirm our initial expectation that in the first 12 months of operation, ARP will be able to distribute $1.60 to its unitholders.
Atlas Energy's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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