Atlas Resource Partners LP (ARP: Quote), or ARP, reported Friday agreeing to acquire approximately 277 bcfe of proved reserves, located in Texas's Barnett Shale, from Carrizo Oil & Gas Inc. (CRZO: Quote) for a consideration of approximately $190 million. The transaction may close in late April.
Further, an immediate boost is expected to ARP's adjusted EBITDA, thanks to which the company anticipates second-half adjusted EBITDA of between $40 and $45 million. Additionally, ARP upped its second-half distribution guidance to a range of $0.85 to $0.90 per unit from the earlier $0.80 per unit, as implied by the annualized rate of $1.60 per unit.
Click here to receive FREE breaking news email alerts for Atlas Resource Partners L.P. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com