Atlas Energy, L.P. (NYSE: ATLS) (“Atlas Energy” or “ATLS”) today reported operating and financial results for the third quarter 2012.
- ATLS declared a cash distribution of $0.27 per limited partner unit for the third quarter 2012. The third quarter 2012 distribution represents a $0.02 per unit increase, or 8%, over the second quarter 2012 and a 13% increase over the prior year quarter. The third quarter 2012 ATLS distribution is payable November 19, 2012 to holders of record as of November 5, 2012.
- Atlas Energy’s E&P subsidiary, Atlas Resource Partners, L.P. (NYSE: ARP), reached record average net production of 96.3 Mmcfed for the third quarter 2012, a 54% increase from the sequential quarter and over a 175% increase from the prior year quarter.
- In September 2012, ARP acquired the following for approximately $40 million from Equal Energy, Ltd. (NYSE: EQU), its joint venture partner in the Mississippi Lime formation in Oklahoma: the remaining 50% interest in Equal’s approximately 8,500 net undeveloped acres in the core of the oil & liquids rich Mississippi Lime play in northwestern Oklahoma, approximately 8 Mmcfe/d of net production in the Mississippi Lime region and substantial salt water disposal infrastructure. ARP now controls approximately 20,000 net acres in the play and plans to add a second rig by the end of 2012.
- Atlas Pipeline Partners, L.P. (NYSE: APL), Atlas Energy’s midstream subsidiary, announced record processing volumes at each of its systems, reaching a total of 769.0 Mmcfd and natural gas liquids (NGL) production of 56,363 bpd for the third quarter 2012.
Edward E. Cohen, Chief Executive Officer of Atlas Energy, stated, “ATLS's success reflects the success of both of its subsidiaries --- ARP and APL. ARP is achieving record production and benefitting from its recent acquisitions. APL is rapidly and successfully expanding organically. As a result, ATLS is anticipating near-term substantial increases in distributable cash flow.”