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Atlas Resource Partners, L.P. To Acquire Titan Operating, L.L.C.

Atlas Resource Partners, L.P. (NYSE: ARP) will acquire approximately 250 Bcfe of proved reserves and associated assets in the Barnett Shale in Texas for approximately $184 million in ARP units (based on ARP’s closing price on May 16, 2012) through entry into a definitive agreement with Titan Operating, L.L.C. (“Titan”), a privately held company based in Fort Worth, Texas. The transaction has been approved by ARP’s board of directors and will be effective as of January 1, 2012, with an expected closing in July 2012, subject to customary closing conditions and purchase price adjustments.

This transaction represents ARP’s second acquisition in the Barnett Shale in two months, establishing a position of approximately 530 Bcfe of total net proved reserves in the region. ARP’s total net proved reserves pro forma for the acquisition are approximately 700 Bcfe, almost four times greater than its original net reserves upon first trading publicly on March 14, 2012. Titan’s assets are located primarily in Denton, Tarrant, Johnson and Hood Counties in Texas, are in close proximity to the previously acquired Barnett Shale assets, and cover approximately 16,000 net acres, which are 90% held by production. Titan’s current net production is approximately 24 mmcfe/d, including approximately 370 bbl/d of natural gas liquids. ARP believes there are approximately 335 potential undeveloped drilling locations on the new position.

As a result of this transaction, ARP is increasing its distribution guidance for the second half of 2012 to a range of $0.90 to $1.00 per limited partner common unit, up from the prior guidance range of $0.85 to $0.90 per unit. ARP is also increasing 2013 distribution guidance to a range of $2.30 to $2.45 per unit, up from the prior range of $2.25 to $2.40 per unit.

Edward E. Cohen, Chief Executive Officer of ARP, commented, “This transaction continues to solidify our position in the Barnett Shale through opportunistic purchases of ongoing production and associated assets. I would like to welcome to our team Mark Schumacher and other key Titan personnel. We continue to evaluate additional opportunities to expand, and we look forward to providing further news of future similar transactions.”

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