Atlas Resource Partners, L.P. (NYSE: 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. (NYSE: 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. (NYSE: 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.
Copyright Business Wire 2014