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Atlas Growth Partners L p   (AGP)
Other Ticker:  
 
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
 
Price: $0.0000 $0.00 %
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Day's Low: $ 0.00 30 Day Perf:
Volume (M): 0 52 Wk High: $ 0.00
Volume (M$): $ 0 52 Wk Avg: $0.00
Open: $0.00 52 Wk Low: $0.00



 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) 34
 Employees 389
 Revenues (TTM) (Millions $) 4
 Net Income (TTM) (Millions $) -2
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 0

Atlas Growth Partners L P

We are a Delaware limited partnership and an independent developer and producer of natural gas, crude oil and natural gas liquids (“NGL”) with operations primarily focused in the Eagle Ford Shale in south Texas. Our general partner, Atlas Growth Partners GP, LLC (“AGP GP”) owns 100% of our general partner units (which are entitled to receive 2% of the cash distributed by us without any obligation to make further capital contributions) and all of the incentive distribution rights through which it manages and effectively controls us.

Atlas Energy Group, LLC (“ATLS” or “Atlas Energy”), a publicly traded Delaware limited liability company (OTC: ATLS) manages and controls us through its 2.1% limited partner interest in us and 80.0% member interest in AGP GP. Current and former members of ATLS management own the remaining 20% member interest in AGP GP.

Our primary business objective is to generate an attractive total return, consisting of current distributions and capital appreciation, through the acquisition of oil and gas assets in North America.

Eagle Ford. The Eagle Ford Shale is an Upper Cretaceous-age formation that is prospective for horizontal drilling in approximately 26 counties across South Texas. Target vertical depths range from 4,000 to some 11,000+ feet with thickness from 40 to over 400 feet. The Eagle Ford formation is considered to be the primary source rock for many conventional oil and gas fields including the prolific East Texas Oil Field, one of the largest oil fields in the contiguous United States. We own oil, natural gas and NGL interests in approximately 2,833 net acres, of which 1,592 are undeveloped, non-producing net acres and 704 are developed net acres, in the Eagle Ford Shale in Atascosa County, Texas. We acquired our Eagle Ford position through a series of acquisitions in 2014 and 2015 for approximately $100 million. During the year, we averaged 5.3 MMcfe/d net production volumes. We estimate 23 Bcfe of total proved reserves for our Eagle Ford position, of which 89% are oil.

Marble Falls. The Marble Falls play is Pennsylvanian-age formation located above the Barnett Shale and beneath the Atoka at depths of approximately 5,500 feet and ranges in thickness from 50 and 500 feet. We own oil, natural gas and natural gas liquids interests in approximately 2,208 net acres, of which 770 are undeveloped, non-producing net acres and 1,438 are developed net acres in the Marble Falls formation and the Barnett Shale, in Jack County, Texas. During the year, we averaged 0.32 MMcfe/d net production volumes. We estimate 0.5 Bcfe of total proved reserves for our North Texas positions, of which 100% are proved developed and producing (“PDP”).

Mississippi Lime. The Mississippi Lime formation is an expansive carbonate hydrocarbon system and is located at depths between 4,000 and 7,000 feet between the Pennsylvanian-aged Morrow formation and the Devonian-age world-class source rock Woodford Shale formation. The Mississippi Lime formation can reach 600 feet in gross thickness, with a targeted porosity zone between 50 and 100 feet thickness. We own a non-operated 21.25% working interest in two wells in the Mississippi Lime formation in Garfield County, Oklahoma, operated by SandRidge Energy, Inc. During the year, we averaged 0.043 MMcfe/d net production volumes.

We do not operate any of the rigs or related equipment used in our drilling operations, relying instead on specialized subcontractors or joint venture partners for all drilling and completion work. This enables us to streamline operations and conserve capital for investments in new wells, infrastructure and property acquisitions, while generally retaining control over all geological, drilling, engineering and operating decisions. We perform regular inspection, testing and monitoring functions on each of our operated wells.

 

Natural Gas and Oil Leases

The typical oil and gas lease agreement provides for the payment of a percentage of the proceeds, known as a royalty, to the mineral owner(s) for all natural gas, oil and other hydrocarbons produced from any well(s) drilled on the leased premises. In Oklahoma (Mississippi Lime play) and Texas (Eagle Ford Shale and Marble Falls play), both states where we have acquired acreage positions, royalties are commonly in the 15-25% range, resulting in net revenue interests to us in the 75-85% range.

In the Texas Eagle Ford Shale and Oklahoma Mississippi Lime play, where horizontal wells are generally drilled on much larger drilling units (sometimes approaching 1,000 acres), the mineral and/or surface rights are generally acquired from multiple parties.

Because the acquisition of hydrocarbon leases in highly desirable basins is an extremely competitive process, and involves certain geological and business risks to identify prospective areas, leases are frequently held by other oil and gas operators. In order to access the rights to drill on those leases held by others, we may elect to farm-in lease rights and/or purchase assignments of leases from competitor operators. Typically, the assignor of such leases will reserve an overriding royalty interest (over and above the existing mineral owner royalty), that can range from 2-3% up to as high as 7% or 8%, and sometimes contain options to convert the overriding royalty interests to working interests at payout of a well. Areas where farm-ins are utilized can result in additional reductions in our net revenue interests, depending upon their terms and how much of a particular drilling unit the farm-in acreage encompasses.

There will be occasions where competitors owning leasehold interests in areas where we want to drill will not farm-out or sell their leases, but will instead join us as working interest partners, paying their proportionate share of all drilling and operating costs in a well. However, it is generally our goal to obtain 100% of the working interest in any and all new wells that we operate.



   Company Address: 2400 Market Street Philadelphia 19103 PA
   Company Phone Number: 674-2614   Stock Exchange / Ticker: AGP
   


Customers Net Income grew by AGP's Customers Net Profit Margin grew to


5.13 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
APA        2.86% 
CHKEW        2.86% 
EOG        2.26% 
EQT   -3.24%    
OXY        3.37% 
PXD        3.52% 
• View Complete Report
   



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Introduction
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Factors Affecting Financial Performance:
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