Atlas Resource Partners, L.P. Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Fourth Quarter of 2015
For the six months, the company reported total revenues of $339,714,000 compared to $300,254,000 a year ago. Operating income was $90,589,000 compared to operating loss of $1,398,000 a year ago. Net income attributable to common limited partners and the general partner was $32,875,000 or $0.36 per basic and diluted share compared to net loss attributable to common limited partners and the general partner of $38,266,000 or $0.63 per basic and diluted share a year ago. Total net debt as at June 30, 2015 was $1,491,005,000 compared to $1,379,213,000 a year ago. Adjusted EBITDA was $135,631,000 compared to $125,627,000 a year ago. Maintenance capital expenditures were $29,332,000 compared to $21,150,000 a year ago.
For the quarter, the company reported natural gas production of 219,844 Mcfd compared to 238,375 Mcfd a year ago. Oil production was 5,293 Bpd compared to 2,084 Bpd a year ago. Natural gas liquids production was 3,194 Bpd compared to 3,689 Bpd a year ago. Total production was 270,761 Mcfed compared to 273,014 Mcfed a year ago.
For the six months, the company reported natural gas production of 223,571 Mcfd compared to 233,186 Mcfd a year ago. Oil production was 5,412 Bpd compared to 1,827 Bpd a year ago. Natural gas liquids production was 3,340 Bpd compared to 3,556 Bpd a year ago. Total production was 276,083 Mcfed compared to 265,488 Mcfed a year ago.
The company expects the 2015 third quarter to be consistent with the second quarter with a significant increase in EBITDA in the fourth quarter.
The company expects overall gas equivalent volumes to continue to decline, but EBITDA to rise meaningfully in the fourth quarter of 2015.