Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 1:56 AM
|This Slide: #369 of 573|
Slide #369. Atlas Resource Partners, L.P. — Preferred Stock Offering
Atlas Resource Partners, L.P. (ARP)
Preferred Stock Offering Details:
Atlas Resource Partners, L.P. (NYSE: ARP) today announced that it has commenced a public offering of Class D Cumulative Redeemable Perpetual Preferred Units ("Class D Preferred Units") pursuant to an effective shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (the "SEC"). ARP will grant the underwriters a 30-day option to purchase additional Class D Preferred Units. ARP intends to use the net proceeds from the offering to fund a portion of its previously announced acquisition of oil producing assets in the Eagle Ford Shale in south Texas.
Atlas Resource Partners is an an independent developer and producer of natural gas, crude oil and natural gas liquids, with operations in basins across the U.S. Co. is a sponsor and manager of investment partnerships (Drilling Partnerships), in which Co. co-invests, to finance a portion of its natural gas, crude oil and natural gas liquids production activities. As of Dec 31 2015, Co.'s estimated proved reserves were 921.00 billion cubic feet equivalent, including the reserves net to Co.'s equity interest in its Drilling Partnerships. Of Co.'s estimated proved reserves, approximately 82% were proved developed and approximately 66% were natural gas.
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Hold (2.22 out of 4)
(ranked higher than approx. 66% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com