Atlas Resource Partners Entered Into & Closed Agreement with Equal Energy (ARP, ATLS, EQU)
[The transaction is subject to post-closing adjustments and Atlas will finance this transaction with available borrowings under its revolving credit facility]
Online PR News – 25-September-2012 – Las Vegas, NV – Atlas Resource Partners, L.P. (Atlas) (NYSE: ARP) Atlas Energy, L.P. (NYSE: ATLS) Equal Energy Ltd. (Equal) (NYSE: EQU; TSX: EQU) ARP has entered into and simultaneously closed an agreement with EQU to acquire the following for approximately $40 million: the remaining 50% interest in Equals 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. This transaction increases Atlas position in the Mississippi Lime to approximately 19,800 net acres. The transaction is subject to post-closing adjustments and Atlas will finance this transaction with available borrowings under its revolving credit facility. Atlas Resource Partners, L.P. (NYSE: ARP) is an exploration & production master limited partnership which owns an interest in over 8,600 producing natural gas and oil wells, representing approximately 700 Bcfe of net proved reserves, primarily in the Barnett Shale in Texas, the Appalachia basin and the Mississippi Lime in Oklahoma. ARP is also the largest sponsor of natural gas and oil investment partnerships in the U.S. For more information, please visit our website at www.atlasresourcepartners.com. Atlas Energy, L.P. (NYSE: ATLS) is a master limited partnership which owns all of the general partner Class A units and incentive distribution rights and an approximate 52% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P. Additionally, Atlas Energy owns and operates the general partner of its midstream oil & gas subsidiary, Atlas Pipeline Partners, L.P., through all of the general partner interest, all the incentive distribution rights and an approximate 11% limited partner interest. For more information, please visit our website at www.atlasenergy.com. Equal Energy Ltd. (NYSE: EQU)is an exploration and production oil and gas company based in Calgary , Alberta, Canada with its United States operations office located in Oklahoma City , Oklahoma. Equal's shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols (EQU, EQU.DB.B) and Equal's shares are listed on the New York Stock Exchange under the symbol (EQU). The portfolio of oil and gas properties is geographically diversified with producing properties located in Alberta and Oklahoma Equal has compiled a multi-year drilling inventory for its properties including its new oil play opportunities in the Cardium and Viking in central Alberta in addition to its extensive inventory of drilling locations in the Hunton liquids-rich, natural gas play in Oklahoma. For more information, please visit our website at www.enterraenergy.com.
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