Atlas Shifting all Activity to Eagle Ford

Noble Q3 2015
Noble Q3 2015

Atlas Resource Partners counts its Eagle Ford assets as bright spot in the company's portfolio.

Related: Atlas Resource Partners Enter Eagle Ford - $225 Million Deal

After reporting a net loss of $560.9 million for the third quarter of 2015, Atlas is focused on positioning the company to withstand the current markets. Central to this strategy is shifting all development activity entirely to the Eagle Ford.

Our sole focus in development activity is in the Eagle Ford shale where we have a substantial position. The economics there remain very attractive on a heads-up basis, and even more attractive to us through our investment partnership business.
— Daniel Herz - Chief Executive Officer

Eagle Ford Highlights

During the third quarter, Atlas drilled and completed its first three Eagle Ford wells. Those wells are producing an average of 3,573 barrels of oil per day, and an average of 313,000 cubic feet of natural gas per day. The company has over $400 million worth of drilling inventory in the Eagle Ford at current cost of drilling.

Atlas Resource Partners is a relative newcomer to the Eagle Ford, entering the region in November 2014. The company's current Eagle Ford activity includes 22 producing wells in Atascosa County and 19 undeveloped locations.