Atlas Energy acquires gas assets from EP Energy

Atlas Energy (ATLS) and its subsidiary Atlas Resource Partners (ARP) have completed the acquisition of a number of US natural gas reserves from EP Energy.

ATLS has acquired approximately $67m of reserves from EP Energy in the Arkoma Basin in southeastern Oklahoma.

The acquired assets are expected to hold around 45 billion cubic feet (bcf) of natural gas proved reserves in the area.

ARP has also bought EP Energy natural gas assets in the Raton Basin in New Mexico and Black Warrior Basin in Alabama for a total of approximately $733m.

The acquired assets in both of the basins are expected to include around 466bcf of natural gas proved reserves.

ATLS has a 37% limited partner interest in ARP, and around a 6% limited partner interest in its midstream oil and gas subsidiary Atlas Pipeline Partners.

ARP holds a stake in around 12,000 producing natural gas and oil wells located in Appalachia, Barnett Shale, Raton Basin and Black Warrior Basin.

In April, Atlas Pipeline Partners signed an agreement to acquire 100% of equity interests in the Eagle Ford midstream business from TEAK Midstream, for $1bn in cash.

In December 2012, the company signed an agreement to purchase all of the operating assets of Cardinal Midstream, a privately-owned midstream operator, for $600m in cash.