Atlas Energy, L.P. Announces Natural Gas and Oil Hedge Positions
April 11 2011 - 9:05AM
Business Wire
Atlas Energy, L.P. (NYSE: AHD) (“Atlas”) announced today that it
has established new hedge positions for its future natural gas
& oil production through 2013. Atlas executed a combination of
fixed-price swap and costless collar positions to protect its
future production from movement in commodity prices. The crude oil
hedges are intended to protect Atlas’ condensate and natural gas
liquids production.
The following is a summary of the newly established hedge
positions:
Natural Gas
Hedges:
Year
Hedge
Instrument
Volume Hedged
(mcf)(1)(2)
Price per
mcf(1)
2011(3) Swap 4,629,080 $4.58 2011 Collar 1,602,373 $3.84 -
$5.72 2012 Swap 5,459,941 $5.11 2012 Collar 1,899,110 $4.35
- $6.20 2013 Swap 3,086,053 $5.40 2013 Collar 3,086,053
$4.85 - $6.19
Crude Oil
Hedges:
Year
Hedge
Instrument
Volume Hedged
(bbls) (1) (2)
Price per
bbl(1)
2011(3) Collar 45,000 $90.00 - $125.31 2012 Collar 60,000
$90.00 - $117.91 2013 Collar 60,000 $90.00 - $116.40 (1)
“Mcf” represents thousand cubic feet; “bbl” represents
barrels. (2) Costless collar prices represent the floor and
ceiling price established in the collar position. Also, for natural
gas hedges, price includes an estimated positive basis differential
and Btu (British thermal unit) adjustment. (3) Reflects
hedges covering the last nine months of 2011.
Atlas Energy, L.P. (NYSE: AHD) is a master limited
partnership which owns an interest in over 8,500 producing natural
gas and oil wells, representing over 185 Bcfe of net proved
developed reserves. Additionally, AHD 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. 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, 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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