Business & Finance
Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Tue, April 12, 2011Mon, April 11, 2011Sun, April 10, 2011Fri, April 8, 2011Thu, April 7, 2011Wed, April 6, 2011Tue, April 5, 2011Atlas Energy, L.P. Announces Natural Gas and Oil Hedge Positions
Published in Business and Finance on Monday, April 11th 2011 at 6:10 GMT by Market Wire
PHILADELPHIA--([ BUSINESS WIRE ])--Atlas Energy, L.P. (NYSE: AHD) (aAtlasa) 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 Atlasa™ 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) | aMcfa represents thousand cubic feet; abbla 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. (aAtlas Energya) 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 Energya™s future financial and operating results, resource potential, the potential effect of Atlas Energya™s ceasing to be a controlled company, and Atlas Energya™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 Energya™s business and its industry are detailed from time to time in Atlas Energya™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 Energya™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.
