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ARP to acquire West Virginia gas production reserves

Atlas Resource Partners LP

Atlas Resource Partners LP (NYSE: ARP) has entered into a definitive agreement to acquire 70 Bcfe of natural gas proved reserves in West Virginia and Virginia from GeoMet Inc. (OTCQB: GMET) for $107 million.

ARP CEO Edward E. Cohen stated, “We are very pleased to enter into this transaction and to add more low declining production to our portfolio. These assets are situated in one of our core operating areas, the Appalachian Basin, where we currently manage substantial natural gas and oil production.”

Wells Fargo acted as financial advisor, and Paul Hastings LLP acted as legal advisor on the transaction.

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