PITTSBURGH, May 19, 2015 /PRNewswire/ -- Atlas Resource
Partners, L.P. (NYSE: ARP) announced today that it has priced an
underwritten public offering of 6,500,000 common units representing
limited partner interests at an offering price of $7.97 per unit. Wells Fargo Securities,
Citigroup, Deutsche Bank Securities, J.P. Morgan and Morgan Stanley
are acting as joint book-running managers for this offering. The
underwriters have been granted a 30-day option to purchase up to an
additional 975,000 common units. The net proceeds of the offering,
assuming no exercise of the over-allotment option, after
underwriting discounts and estimated expenses, are approximately
$49.5 million.
ARP intends to use a portion of the net proceeds from this
offering to fund its announced acquisition of assets in the
Arkoma basin in eastern
Oklahoma from its parent company,
Atlas Energy Group, LLC (NYSE: ATLS). Proceeds raised in this
offering in excess of the purchase price of the Arkoma acquisition are expected to be used for
general partnership purposes, to reduce borrowings outstanding
under ARP's revolving credit facility and for potential future
acquisitions.
The common units are being offered pursuant to an automatic
shelf registration statement that ARP previously filed with the
SEC. The offering is being made only by means of a prospectus
supplement and accompanying prospectus. Copies of the prospectus
and accompanying prospectus supplement relating to these securities
may be obtained by contacting:
Wells Fargo Securities
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Phone: (800) 326-5897
cmclientsupport@wellsfargo.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (800) 831-9146
prospectus@citi.com
Deutsche Bank Securities
Attn: Prospectus Group
60 Wall Street
New York, NY 10005-2836
(800) 503-4611
prospectus.cpdg@db.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: 866-803-9204
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
Atlas Resource Partners, L.P. (NYSE: ARP) is an
exploration & production master limited partnership which owns
an interest in over 14,000 producing natural gas and oil wells,
located primarily in Appalachia, the Barnett Shale (TX), the
Mississippi Lime (OK), the Eagle Ford Shale (TX), the Raton Basin
(NM), Black Warrior Basin (AL) and the Rangely Field (CO).
ARP is also the largest sponsor of natural gas and oil investment
partnerships in the U.S. For more information contact Investor
Relations at InvestorRelations@atlasenergy.com.
Atlas Energy Group, LLC (NYSE: ATLS) is a master
limited partnership which owns the following interests: all of the
general partner interest, incentive distribution rights and an
approximate 28% limited partner interest in its upstream oil &
gas subsidiary, Atlas Resource Partners, L.P.; the general partner
interests, incentive distribution rights and limited partner
interests in its private E&P development subsidiary; and a
general partner interest in Lightfoot Capital Partners, an entity
that invests directly in energy-related businesses and assets. For
more information contact Investor Relations at
InvestorRelations@atlasenergy.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements
that involve a number of assumptions, risks and uncertainties that
could cause actual results to differ materially from those
contained in the forward-looking statements. ARP cautions
readers that any forward-looking information is not a guarantee of
future performance. Such forward-looking statements include,
but are not limited to, statements about future financial and
operating results, resource potential, ARP's plans, objectives,
expectations and intentions and other statements that are not
historical facts. Risks, assumptions and uncertainties that could
cause actual results to materially differ from the forward-looking
statements include, but are not limited to, those associated with
general economic and business conditions; ARP's ability to close
its pending acquisition; changes in commodity prices; changes in
the costs and results of drilling operations; uncertainties about
estimates of reserves and resource potential; inability to obtain
capital needed for operations; ARP's level of indebtedness; changes
in government environmental policies and other environmental risks;
the availability of drilling equipment and the timing of
production; tax consequences of business transactions; and other
risks, assumptions and uncertainties detailed from time to time in
ARP's reports filed with the U.S. Securities and Exchange
Commission, including quarterly reports on Form 10-Q, reports on
Form 8-K and annual reports on Form 10-K. Forward-looking
statements speak only as of the date hereof, and ARP assumes no
obligation to update such statements, except as may be required by
applicable law.
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SOURCE Atlas Resource Partners, L.P.