Operational Updates
Atlas Resource Partners, L.P. Reports Mississippi Lime JV
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Atlas Resource Partners, L.P., reported operating and financial results for the first quarter 2012.
Mississippi Lime Joint Venture
On April 17, 2012, ARP acquired a 50% interest in approximately 14,500 net undeveloped acres in the core of the oil & liquids rich Mississippi Lime play in northwestern Oklahoma from subsidiaries of Equal Energy, Ltd. ("Equal") (NYSE:EQU) for approximately $18 million, which was funded through borrowings under ARP's revolving credit facility. The acreage position is located in Alfalfa, Garfield and Grant Counties, Oklahoma and is almost entirely held by Equal's existing production from the Hunton formation. ARP and Equal also entered into a participation and development agreement, whereby ARP and Equal will drill continuously with one rig in the Mississippi…
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