Atlas Resources Partners LP, Philadelphia, will acquire 250 bcf equivalent of proved reserves in the Barnett shale in the Fort Worth basin from Titan Operating LLC, private Fort Worth independent, for $184 million in ARP units.
Closing is set for July 2012 with an effective date of Jan. 1, 2012. ARP’s net proved Barnett shale reserves will total 700 bcfe on completion.
Titan’s assets are on 16,000 acres, 90% held by production, in Denton, Tarrant, Johnson, and Hood counties, Tex., near ARP’s previously acquired Barnett shale assets. Titan’s net production is 24 MMcfe/d, including 370 b/d of natural gas liquids. ARP sees 335 potential undeveloped drilling locations.