Atlas Resource Partners Buys Arkoma Properties From Parent Atlas Energy
HOUSTON – Paul Hastings LLP, a leading global law firm, announced today that it represented the Conflicts Committee of the board of managers of Atlas Energy Holdings Operating Company LLC, which is a wholly owned subsidiary of Atlas Resource Partners LP, in its acquisition of Arkoma properties from its parent Atlas Energy Group LLC for $35.5 million.
The assets include 41 billion cubic feet of mature, low-decline natural gas reserves that produce 11 million cubic feet per day from 550 active wells. Atlas Energy Group will use the net proceeds to pay down part of its term loan, which had an outstanding balance of $104.4 million.
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