Atlas Energy, L.P. Announces New Revolving Credit Facility
March 23 2011 - 9:05AM
Business Wire
Atlas Energy, L.P. (NYSE: AHD) (“Atlas”) announced today that it
has established a new senior secured revolving credit facility with
an initial borrowing base of $125 million, which matures on March
22, 2016. Atlas’ new facility replaces its previous $70 million
revolving credit facility. The new credit facility immediately
provides additional liquidity to Atlas for investment and working
capital purposes.
Edward E. Cohen, Chief Executive Officer of Atlas Energy, L.P.,
stated, “We are pleased to have entered into this credit facility
with our newly established bank group, and we look forward to
working with them as we prepare to further expand our business in
the very near future.”
Wells Fargo Securities, LLC and Citibank, N.A. were the lead
arrangers for the credit facility, in which seven financial
institutions are participating.
Atlas Energy, L.P. (NYSE: AHD), formerly Atlas Pipeline
Holdings, L.P., is a master limited partnership which owns and
operates the general partner of Atlas Pipeline Partners, L.P.
(NYSE: APL), through which it owns a 2% general partner interest,
all the incentive distribution rights and approximately 5.75
million common limited partner units of APL. Additionally, AHD owns
an interest in over 8,500 producing natural gas and oil wells,
representing over 185 Bcfe of net proved developed reserves. For
more information, please visit our website at www.atlasenergy.com, or contact Investor Relations
at InvestorRelations@atlasenergy.com.
Safe Harbor for Forward-Looking
Statements
This document 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. Atlas Energy, L.P. (“Atlas Energy”)
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 Atlas Energy’s
future financial and operating results, resource potential, the
potential effect of Atlas Energy’s ceasing to be a controlled
company, the potential effect of Atlas Pipeline Partners’ sale of
its interest in Laurel Mountain Midstream and Atlas Energy’s plans,
objectives, expectations and intentions and other statements that
are not historical facts. Although Atlas Energy believes the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, no assurance can be given that these
expectations will be attained and it is possible that our actual
circumstances and results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties. Other risk factors relating to Atlas
Energy’s business and its industry are detailed from time to time
in Atlas Energy’s reports filed with the U.S. Securities and
Exchange Commission. Atlas Energy undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. The
reader is directed to Atlas Energy’s filings with the U.S.
Securities and Exchange Commission, including quarterly reports on
Form 10-Q, reports on Form 8-K and its annual reports on Form 10-K,
for a discussion of such risks and uncertainties.
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