Atlas Resource Partners, L.P. Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2015; Announces Asset Impairment for the Third Quarter of 2015
For the nine months, the company reported total revenues of $597,609,000 against $506,953,000 a year ago. Operating loss was $444,711,000 against operating income of $17,156,000 a year ago. Net loss attributable to common limited partners and the general partner was $532,272,000 against $40,856,000 a year ago. Net loss attributable to common limited partners per diluted unit was $5.74 against $0.67 a year ago. Maintenance capital expenditures were $42,788,000 against $46,300,000 a year ago. Total capital expenditures were $102,290,000 against $150,579,000 a year ago. Adjusted EBITDA was $203,739,000 against $212,324,000 a year ago. Distributable cash flow attributable to limited partners and the general partner was $87,631,000 against $128,038,000 a year ago. Total net debt was $1,502,629.
The company reported asset impairment of $672,246,000 for the third quarter of 2015.
The company reported average net daily production for the third quarter 2015 was 264.2 million cubic feet equivalents per day (Mmcfed), as compared to 270.8 Mmcfed for the second quarter 2015. ARP's third quarter 2015 production was comprised of 82% natural gas, 11% oil and 7% natural gas liquids (NGL). The company connected two Mississippi Lime wells during the third quarter, and now operates 27 wells in the Eagle Ford shale. ARP is currently connecting additional wells on its Eagle Ford position and expects oil volumes to increase into 2016 as a result of its activity.
For the nine months, the company reported total production of 272,077 Mcfed against 276,406 Mcfed a year ago.