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Atlas Resource completes acquisition of low decline oil properties in Northwest Colorado


Published Jul 2, 2014
Atlas Resource Partners, L.P.

Atlas Resource Partners, L.P. has completed its previously announced acquisition of approximately 47 million barrels of oil equivalent (Mmboe) reserves, including proved developed producing reserves of approximately 25 Mmboe, for $420 million. The acquired position is located in the Rangely field in northwest Colorado, a mature CO2 flood with low-decline oil production. The transaction has an effective date of April 1, 2014.

The acquired assets are expected to provide ARP with a stable, high margin cash flow stream with a low-decline profile (average 3-4% annual decline rate over the past 15 years). The asset position is a tertiary oil recovery project using CO2 flood activity, and the production mix is predominantly oil at 90%, with the remainder coming from NGLs.

Tags: Atlas Resource Partners




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