Atlas Resource Partners LP (NYSE: ARP) made its debut in the Eagle Ford Shale Sept. 24, announcing acquisitions valued at $340 million that will raise the company’s daily production of oil and liquids.

In the Eagle Ford, that will only buy so much. Atlas said in SEC filings it would acquire 4,000 operated gross acres.

Atlas entered an agreement to acquire oil assets in the Eagle Ford in south Texas from an undisclosed seller for $225 million. In connection with the acquisition, the owner of Atlas’ general partner—Atlas Energy LP (NYSE: ATLS)—will purchase Eagle Ford assets for roughly $115 million. The purchase consists of eight wells that have been drilled but not completed and 53 undeveloped drilling locations.

The Pittsburgh-based company will gain 100% working interest and 74% net revenue interest in the oil window of the Eagle Ford Shale in Atascosa County. As a result, its oil and liquids production is expected to increase to nearly 25% of its total daily oil and gas production.

Atlas reported in the second quarter of 2014 that its oil production was 2,084 barrels per day and 3,689 barrels of NGL per day.

Atlas will acquire production in the Eagle Ford consisting of roughly 87% oil, 7% NGL and 6% natural gas from 22 producing wells. The company reported to the SEC that average net production for the past 12-months from the assets has been about 2,947 barrels of oil equivalent per day (boe/d).

Estimated net reserves are about 12 MMboe, 86% oil, as of July 1. The company predicts net daily production to average about 1,900 boe/d in 2015.

Atlas paid roughly $118,421 per boe/d, according to Ethan Bellamy, senior analyst, Robert W. Baird & Co.

Edward E. Cohen, CEO of Atlas Resource Partners, said in a statement, "This transaction demonstrates the ability of the Atlas companies to acquire high-margin production in a premier U.S. oil and gas basin without diluting common unit holders' interests.”

In addition, Atlas will acquire 19 undeveloped drilling locations in the Eagle Ford. The company expects these drilling locations will provide valuable inventory for its investment partnership business.

Atlas anticipates the entire acreage position to be HBP in the several quarters following the deal’s closing.

The reserves and production information presented by Atlas is based solely on its internal evaluation and interpretation of reserve and other information provided to the company by the third-party seller and has not been independently verified or estimated.

The Eagle Ford assets also have contractual agreements for gathering and processing capacity and salt water disposal.

Lease operating costs and production taxes are roughly $9.75 per barrel. Oil transportation costs are about $7 per barrel and gas gathering and processing costs are roughly $1.70 per million cubic feet.

Cohen said he expect the transaction to immediately enhance the company’s cash flow, distribution coverage and credit metrics, providing additional visibility and growth.

The board of directors of Atlas Resource Partners approved the transaction, which is expected to close in the fourth quarter 2014 with an effective date of July 1. The company will pay $200 million of the purchase price upon closing with the remaining $140 million to be paid in installments in 2015.

The transaction will be partially financing through borrowings under the company’s revolving credit facility. Atlas is also currently working with its lending group to expand the borrowing base on its revolving credit facility as a result of the transaction.

Morgan Stanley and Co. LLC was financial adviser on the transaction, and Jones Day and Ledgewood Law, of Philadelphia, were legal advisers.

Atlas Energy LP is a MLP with a market cap of about $2.3 billion that focuses through its subsidiary companies, Atlas Resource Partners and Atlas Pipeline Partners LP (NYSE: APL), on the production, transportation and processing of natural gas and oil in the U.S.