Atlas Resource Partners, L.P. has entered into an agreement with subsidiaries of Equal Energy, Ltd. to acquire a 50% interest in Equal's approximately 14,500 net undeveloped acres in the core of the oil & liquids rich Mississippi Lime play in northwestern Oklahoma for approximately $18 million. The acreage position is located in Alfalfa, Garfield and Grant Counties, Oklahoma and is almost entirely held by Equal's existing production from the Hunton formation. Atlas will finance this transaction with available borrowings under its revolving credit facility. The transaction is expected to close in late April 2012, subject to customary closing conditions.

Matthew A. Jones, President and Chief Operating Officer of ARP, commented, 'We are very pleased to enter into the Mississippi Lime, one of the highest returning U.S. oil & gas plays. We expect our future development of the Mississippi Lime with Equal will add valuable oil & liquids reserves to ARP's production profile. This new position also provides potential future drilling locations for our partnership management business. This transaction further strengthens the breadth of our E&P operations, and complements our already expanding presence in some of the highest returning basins in the U.S.'

Tags: Atlas Resource Partners, L.P.