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

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.

by RTT Staff Writer

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