Atlas Resource Partners, L.P. ARP announced today that it has priced
an underwritten public offering of 5,500,000 common units representing limited
partner interests at an offering price of $21.18. Wells Fargo Securities,
Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC
Capital Markets 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 825,000 common units. The net proceeds of the offering, assuming no
exercise of the over-allotment option, after underwriting discounts and
estimated expenses, are approximately $112.1 million.
ARP intends to use the net proceeds from this offering to fund its
previously-announced acquisition of natural gas assets from GeoMet, Inc. and
its subsidiaries. Prior to funding the pending acquisition, ARP may use some
or all of the net proceeds for general partnership purposes, which may include
repayment of outstanding borrowings under its revolving credit facility.
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, NY 10152
Phone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-800-831-9146
batprospectusdept@citi.com
Deutsche Bank Securities Inc.
Attn: Prospectus Department
Harborside Financial Center
100 Plaza One
Jersey City, New Jersey 07311
Telephone: (800) 503-4611
J.P. Morgan
C/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: 866-803-9204
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, NY 10014
RBC Capital Markets
Attn: Prospectus Department
3 World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281-8098
Phone: (877) 822-4089
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 such state or other jurisdiction.
Atlas Resource Partners, L.P. ARP is an exploration & production
master limited partnership which owns an interest in over 13,000 producing
natural gas and oil wells, located primarily in Appalachia, the Barnett Shale
(TX), the Raton Basin (NM) and Black Warrior Basin (AL). ARP is also the
largest sponsor of natural gas and oil investment partnerships in the U.S.
Atlas Energy, L.P. ATLS is a master limited partnership which owns all
of the general partner Class A units and incentive distribution rights and an
approximate 37% 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 6% limited partner interest.
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 the proposed GeoMet
acquisition, on the terms described or at all; ARP's ability to obtain
required consents in order to permit the transfer of the assets included in
the proposed GeoMet acquisition; ARP's ability to obtain the required
financing for the proposed GeoMet acquisition, on desirable terms or at all;
the ability to obtain required regulatory approvals for the proposed GeoMet
acquisition; ARP's ability to realize the anticipated benefits of the proposed
GeoMet 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in