ATLS
Atlas Energy L.P.
Energy
10/03/2014
Presented
| Date | 10/01/2014 |
| Price | $42.70 |
| Market Cap | $2.22B |
| Ent Value | $8.55B |
| P/E Ratio | N/A |
| Book Value | $6.62 |
| Div Yield | 6.5% |
| Shares O/S | 51.91M |
| Ave Daily Vol | 370,000 |
| Short Int | 3.52% |
Current
| Price | $0.01 |
| Market Cap | $0.00B |
| Atlas Energy, L.P. develops and produces natural gas, crude oil, and natural gas liquids (NGLs) in basins across the United States. It also sponsors and manages tax-advantaged investment partnerships. In addition, the company is involved in the provision of natural gas gathering, processing, and treating services in the Anandarko, Arkoma, and Permian Basins of the United States; natural gas gathering services in the Appalachian Basin in the northeastern region of the United States; and NGLs transportation services in the Southwestern region of the United States. As of December 31, 2013, it had ownership interests in 620 wells in the Barnett Shale and Marble Falls play located in the Fort Worth Basin in Northern Texas; 2,950 wells in the Raton Basin in northern New Mexico, the Black Warrior Basin in central Alabama, and the County Line area of Wyoming; 8,170 wells in the Marcellus Shale and the Utica Shale in the Appalachian basin; the Mississippi Lime and Hunton plays in northwestern Oklahoma; and the Chattanooga Shale in northeastern Tennessee, the Niobrara Shale in northeastern Colorado, the New Albany Shale in southwestern Indiana, and the Antrim Shale in Michigan. The company had estimated proved reserves of 1,169 billion cubic feet equivalent (Bcfe); proved undeveloped reserves of approximately 373,773 Bcfe of natural gas, oil, and NGLs; operated 14 natural gas processing plants with aggregate capacity of approximately 1,500 million cubic feet per day; 18 gas treating facilities; and 11,200 miles of active natural gas gathering systems located in Oklahoma, Kansas, Tennessee, and Texas. Atlas Energy GP, LLC serves as a general partner of Atlas Energy, L.P. The company was formerly known as Atlas Pipeline Holdings, L.P. and changed its name to Atlas Energy, L.P. in February 2011. Atlas Energy, L.P. is based in Pittsburgh, Pennsylvania. |
Publicly traded companies mentioned herein: Atlas Energy, L.P (ATLS), Atlas Resource Partners, L.P. (ARP), Atlas Pipeline Partners, L.P. (APL), Pioneer Natural Resources Co. (PXD)
Highlights
Atlas Energy LP (ATLS) is the GP for two MLPs, Atlas Resource Partners LP (ARP) and Atlas Pipeline Partners (APL) (28% and 6% stake, respectively). The presenter is long shares of the GP, and believes ATLS is undervalued on a sum-of-the-parts and relative value basis. At ~$43 per share, he sees the potential for a 30-40% gain over the next 12-18 months, and said the downside risk should be limited.
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