Plus   Neg

Atlas Resource Partners Inks $190 Mln Buy Of Barnett Shale Reserves From Carrizo

Atlas Resource Partners LP (ARP), 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) 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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Follow RTT