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Atlas Resource Partners Works to Cut $1.55B Debt Load
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Atlas Resource Partners, L.P. reported operating and financial results for the first quarter 2016.
Highlights: At March 31, 2016, ARP had $1.553 billion of total debt, including $672.0 million outstanding under its revolving credit facility. Adjusted EBITDA was $43.7 million for the first quarter 2016 Natural gas and oil production in the first quarter 2016 were hedged approximately 76% and 99%, respectively; current market value of ARP's hedge portfolio is approximately $293 millionDaniel Herz, Chief Executive Officer of ARP, stated, "The energy environment remains extremely challenging, and ARP is not immune. We continue to work to reduce ARP's outstanding debt. I am pleased with how our assets have performed over the last quarter, and appreciate all of our employee's dedication to…
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