Atlas Resource Partners LP (NYSE: ARP) completed a $420 million acquisition of reserves in Colorado’s Rangely Field, the company said June 30.
It acquired about 47 million barrels of oil equivalent (boe) of reserves in the mature CO2 field that has low-decline oil production, the company said. Of the total number of acquired reserves, about 25 MMboe are proved developed producing, the company noted.
The transaction’s effective date was April 1, Atlas Resource said.
A “stable, high-margin cash flow” is expected from the acquired assets, the company said, noting that ...